Aravive Inc (NASDAQ: ARAV) shares plunged after the company’s Phase 3 AXLerate-OC trial evaluating the safety and efficacy of batiraxcept in platinum-resistant ovarian cancer did not meet its primary endpoint of progression-free survival (PFS) in the pre-specified subset of patients naïve to prior bevacizumab treatment.
The trial did not show any difference between the two arms in the overall population (which included patients previously treated with bevacizumab).
Bevacizumab is marketed as Avastin by Genentech, a Roche Holdings AG (OTC: RHHBY) unit.
The company will continue to evaluate the complete dataset and determine the next steps in developing batiraxcept.
“We are conducting additional analyses on the …
