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Aravive Inc. (ARAV) stock is soaring high in after-hours. Let’s find out why?

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Aravive Inc. (NASDAQ: ARAV) stock price was high in the last trading close by 4.38%, while the stock also rises by 15.87% during after-hours. The ARAV stock price has been uptrending since Aravive has announced its fourth quarter and full-year 2020 financial results on 16 March 2021.  Aravive is a biotechnology company related to oncology that focuses on developing transformative therapeutics for the treatment of life-threatening diseases.

Financial Results

  • The revenue generated by ARAV in fourth quarter and full year 2020 was $5.7 million for both periods, whereas it was $0 and $4.8 million for the same periods in 2019. The revenue gathered in 2020 by ARAV is due to its collaboration and license agreement with 3D medicines.
  • ARAV stock news shows that the total operating expense was $9.7 million for the fourth quarter of 2020 and it was $36.5 million for the full year of 2020. Whereas it was $5.2 million and $26.5 million for the fourth quarter and full-year 2020, respectively.
  • For the full year 2020, the non-recurring non-cash charges for the impairment of the Company’s right-of-use asset and also its leasehold improvements was $5.8 million.
  • ARAV has recorded a net loss of $4.0 million or $0.25 per share for the fourth quarter of 2020 and $30.5 million or $1.93 million per share for the full year 2020. Compared to 2020, in 2019 the net loss faced by ARAV was $4.3 million or $0.35 per share and $18.2 million or $1.57 per share for the same periods.

Important Events

  • Aravive Inc. has announced that the management will participate in the 2021 Society of Gynecologic Oncology Annual Meeting on Women’s Cancer to present the revised data of its Phase 1b trial evaluating AVB-500 in platinum-resistant ovarian cancer (PROC). The meeting is set to happen virtually on 19-25 March, 2021.
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