$ACRV

Acrivon Therapeutics, Inc.

CIK:0001781174|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Research and development	$ 13,844	$ 16,182	$ 29,010	$ 31,596
General and administrative	4,824	6,467	9,560	12,715
Total operating expenses	18,668	22,649	38,570	44,311
Loss from operations	(18,668)	(22,649)	(38,570)	(44,311)
Other income (expense), net:
Interest income	860	1,730	1,849	3,726
Other expense, net	(156)	(87)	(285)	(101)
Total other income, net	704	1,643	1,564	3,625
Net loss	$ (17,964)	$ (21,006)	$ (37,006)	$ (40,686)
Net loss per share—basic	$ (0.43)	$ (0.55)	$ (0.92)	$ (1.06)
Net loss per share—diluted	$ (0.43)	$ (0.55)	$ (0.92)	$ (1.06)
Weighted-average common stock outstanding—basic	41,841,887	38,461,619	40,291,956	38,406,339
Weighted-average common stock outstanding—diluted	41,841,887	38,461,619	40,291,956	38,406,339
Comprehensive loss:
Net loss	$ (17,964)	$ (21,006)	$ (37,006)	$ (40,686)
Other comprehensive loss:
Unrealized loss on available-for-sale investments, net of tax	(37)	(177)	(144)	(341)
Comprehensive loss	$ (18,001)	$ (21,183)	$ (37,150)	$ (41,027)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (37,006)	$ (40,686)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	788	646
Stock-based compensation expense	4,395	7,718
Non-cash operating lease expense	549	503
Net amortization of premiums and accretion of discounts on investments	222	(533)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	329	1,169
Accounts payable	(1,416)	264
Accrued expenses and other current liabilities	(2,667)	(4,844)
Operating lease liabilities	(594)	(382)
Net cash used in operating activities	(35,400)	(36,145)
Cash flows from investing activities:
Purchases of investments	(26,825)	(35,284)
Proceeds from maturities of investments	55,000	74,500
Purchases of property and equipment	(101)	(551)
Net cash provided by investing activities	28,074	38,665
Cash flows from financing activities:
Proceeds from issuance of common stock under at-the-market offering	7,299
Proceeds from exercise of common stock options	8	1
Payments of issuance costs	(4)
Payments of tax withholdings related to vesting of restricted stock units	(67)	(441)
Net cash provided by (used in) financing activities	7,236	(440)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(90)	2,080
Cash, cash equivalents and restricted cash at beginning of period	41,702	40,016
Cash, cash equivalents and restricted cash at end of period	41,612	42,096
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment included in accounts payable and accrued expenses and other current liabilities	0	722
Issuance of common stock upon exercise of pre-funded warrants	7
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	41,417	41,895
Restricted cash	195	201
Total cash, cash equivalents, and restricted cash	$ 41,612	$ 42,096

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 41,417	$ 41,499
Short-term investments	48,542	77,083
Prepaid expenses and other current assets	1,534	1,863
Total current assets	91,493	120,445
Property and equipment, net	4,248	4,889
Operating lease right-of-use assets	1,977	2,527
Restricted cash	195	203
Other assets	1,179	1,653
Total assets	99,092	129,717
Current liabilities:
Accounts payable	861	2,277
Accrued expenses and other current liabilities	9,451	12,215
Operating lease liabilities, current	1,135	1,172
Total current liabilities	11,447	15,664
Operating lease liabilities, non-current	980	1,537
Total liabilities	12,427	17,201
Commitments and contingencies (Note 12)
Stockholders’ deficit:
Common stock, $0.001 par value; 500,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 42,847,215 and 31,648,856 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	42	31
Additional paid-in capital	398,543	387,255
Accumulated other comprehensive (loss) income	(33)	111
Accumulated deficit	(311,887)	(274,881)
Total stockholders' equity	86,665	112,516
Total liabilities and stockholders' equity	$ 99,092	$ 129,717