LONDON and PHILADELPHIA – September 30, 2025 – Avacta Therapeutics (AIM: AVCT), a life sciences company developing innovative, targeted oncology drugs, announces the publication of the interim results for the six months ended June 30, 2025 (“H1 25”).
Highlights – pre|CISION® medicine pipeline
- Clinical stage programs continue to advance with enrolment ongoing in Phase 1b expansion cohorts in the faridoxorubicin1 (FAP-Dox, AVA6000) program. The initial clinical activity observed in Phase 1b is highly encouraging.
- FAP-EXd (AVA6103) remains on track to dose the first patient in Q1 2026.
- Clinical data with faridoxorubicin (FAP-Dox, AVA6000), FAP-EXd (AVA6103) and translational work in FAP pre|CISION® programs was presented in April 2025 at American Association of Cancer Research Annual Meeting (AACR, 2025).
- Avacta to present the final faridoxorubicin Phase 1a dose escalation data at ESMO 2025 in Berlin, October 2025, with longer term cardiac safety data and updated efficacy data.
Financial and operational – including post period end
- Period end cash and cash-equivalent balances were £12.65 million (30 June 2024: £28.56 million; 31 December 2024: £12.87 million).
- Cash outflow from operations and working capital movements were £12.14 million (H1 2024: £12.60 million; FY 2024: £26.05 million) and cash inflow from investing activities were £8.77 million reflecting the proceeds of the sale of Launch Diagnostics (H1 2024: outflow of £0.80 million; FY 2024: outflow of £1.43 million).
- Renegotiated terms of Heights Convertible Bond (the “Bond”) and raised £6.5 million (gross) to fund two quarterly cash payments of the Bond. Year to date bond settlement was £5.1 million, 30 June 2025 bond balance is £25.5 million reducing to £22.95 million by 30 September 2025.
Christina Coughlin, MD, PhD, CEO of Avacta, said,
“We have continued to make strong progress with our R&D pipeline, seeing a number of advances in our clinical programs. Notably the activity we are seeing in the faridoxorubicin Phase 1b trial has further increased our confidence in the value and utility of the pre|CISION® platform. Further, we continue to see increasing industry interest in our innovative platform.
“Raising £6.5 million to fund the July and October bond payments and renegotiating the terms of the convertible bond reflect the progress and growing confidence in our R&D pipeline.
“We anticipate multiple pipeline updates in the last quarter of 2025, including the data from the first expansion cohort (salivary gland cancer) in the faridoxorubicin program. We look forward to continuing to update on our progress across our programs and exploiting our unique technology.”
1faridoxorubicin: generic nomenclature assigned to the AVA6000 program by the World Health Organization (WHO)
- Download the full statement here