Key Highlights from travels with management include:
l Tivozanib has a best-in-class profile, may reach market in mid-2013. Positive Phase III data in front-line renal cell carcinoma (RCC)
sets up regulatory filings in the United States and Europe in the back half of 2012. Moreover, we believe that the combination of target
half-life, selectivity, potency, as well as efficacy and tolerability demonstrated to date with tivozanib look compelling relative to
currently approved drugs in the class.
l Ficlatuzumab Phase II trial results and additional pipeline visibility expected. Beyond ASCO, which should provide insight into
details of the Phase III trial of tivozanib and other drugs in the class, we expect Phase II results from ficlatuzumab in non-small cell lung
cancer, as well as initiation of a large combination study of tivozanib in breast cancer and initiation of a Phase I trial of AV-201 in
patients with solid tumors.
AVEO ended the year with $275 million in cash and is expected to end 2012 with $120 million. We believe current share prices offer investors
an attractive entry point to own a well-run company with a positive commercial outlook and underlying drug discovery platform. |
