Analyst Downgrades Aravive: Grapples With Trial Setback, Strategic Alternatives
Portfolio Pulse from Vandana Singh
Aravive Inc (ARAV) has terminated Phase 1b/P2 trials of batiraxcept due to cash preservation. The company's Phase 3 AXLerate-OC trial did not meet its primary endpoint, leading to a downgrade of ARAV stock by Cantor Fitzgerald and William Blair. The company is exploring strategic alternatives and may cease operations if it fails to raise capital or engage a strategic partner. ARAV shares closed 23.60% lower at $0.16 on Tuesday.
August 22, 2023 | 8:35 pm
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Aravive Inc's stock has been downgraded due to the termination of trials and failure of the Phase 3 AXLerate-OC trial. The company may cease operations if it fails to raise capital or engage a strategic partner.
The termination of trials and failure of the Phase 3 AXLerate-OC trial has led to a downgrade of Aravive Inc's stock. The company's future is uncertain as it may cease operations if it fails to raise capital or engage a strategic partner. This has a negative impact on the stock price.
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