The company continues to operate without commercial revenue, with R&D expenditures peaking at $18.9M in 2024Q3, reflecting the non-discretionary costs of its clinical-stage oncology pipeline.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - |
| Cost of Goods Sold | -228K | 1.36M | 1.01M | 536K | 0 | 0 | 13K |
| COGS % of Revenue | - | - | - | - | - | - | - |
| Gross Profit | 228K | -1.36M | -1.01M | -536K | 0 | 0 | -13K |
| Gross Margin % | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | -34.79% | -87.69% | - | - | 100% | - |
| Operating Expenses | 82.58M | 82.76M | 88.19M | 66.7M | 32.66M | 16.18M | 3.17M |
| OpEx % of Revenue | - | - | - | - | - | - | - |
| Selling, General & Admin | 22.61M | 24.12M | 25.21M | 21.21M | 8.71M | 2.47M | 1.3M |
| SG&A % of Revenue | - | - | - | - | - | - | - |
| Research & Development | 59.66M | 59.99M | 63.99M | 45.49M | 23.95M | 13.72M | 1.87M |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | 311K | -1.36M | -1.01M | 0 | 0 | 0 | 0 |
| Operating Income | -82.35M | -84.11M | -89.2M | -67.24M | -32.66M | -16.18M | -3.17M |
| Operating Margin % | - | - | - | - | - | - | - |
| Operating Income Growth % | - | 5.7% | -32.66% | -105.89% | -101.79% | -410.86% | - |
| EBITDA | -82.23M | -82.76M | -88.19M | -66.7M | -32.29M | -16.15M | -3.15M |
| EBITDA Margin % | - | - | - | - | - | - | - |
| EBITDA Growth % | 10.71% | 6.16% | -32.22% | -106.55% | -99.99% | -411.79% | - |
| D&A (Non-Cash Add-back) | 121K | 1.36M | 1.01M | 536K | 364K | 37K | 13K |
| EBIT | -85.79M | -84.11M | -80.56M | -60.39M | -32.66M | -16.18M | -5.31M |
| Net Interest Income | 5.47M | 6.48M | 9.2M | 0 | 0 | 0 | 0 |
| Interest Income | 5.47M | 6.48M | 9.2M | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 5.09M | 6.21M | 8.64M | 6.85M | 1.49M | -59K | -2.14M |
| Pretax Income | -77.27M | -77.91M | -80.56M | -60.39M | -31.17M | -16.24M | -5.31M |
| Pretax Margin % | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -77.27M | -77.91M | -80.56M | -60.39M | -31.17M | -16.24M | -5.31M |
| Net Margin % | - | - | - | - | - | - | - |
| Net Income Growth % | 7.74% | 3.29% | -33.4% | -93.76% | -91.88% | -206.13% | - |
| Net Income (Continuing) | -77.27M | -77.91M | -80.56M | -60.39M | -31.17M | -16.24M | -5.31M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.00 | -2.02 | -2.10 | -2.74 | -1.42 | -1.26 | -0.41 |
| EPS Growth % | 9.91% | 3.81% | 23.36% | -92.96% | -12.7% | -207.32% | - |
| EPS (Basic) | - | -2.02 | -2.10 | -2.74 | -1.42 | -1.26 | -0.41 |
| Diluted Shares Outstanding | 38.72M | 38.51M | 38.3M | 22.08M | 21.92M | 12.91M | 12.91M |
| Basic Shares Outstanding | 38.72M | 38.51M | 38.3M | 22.08M | 21.92M | 12.91M | 12.91M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Clinical trial execution failure
As reported in financial statements, Acrivon's R&D expenditure remains the primary driver of its quarterly losses, with recent figures showing a peak of $18.9M in 2024Q3, reflecting the non-discretionary nature of clinical trial execution and the ongoing development of the proprietary AP3 proteomic platform.
The company's cost structure is heavily skewed toward clinical advancement, which is typical for a pre-revenue biotechnology firm. Investors should monitor whether the recent stabilization of R&D spend near $15M per quarter indicates improved operational efficiency or a potential slowdown in trial enrollment velocity.
Based on reported figures, Acrivon continues to operate with a significant negative operating margin, as the firm lacks commercial revenue to offset the fixed costs associated with its specialized oncology pipeline and the necessary infrastructure for its OncoSignature companion diagnostic development and regulatory compliance efforts.
The absence of revenue means that operating leverage is currently non-existent, as every dollar spent on R&D and SG&A directly expands the net loss. Future scalability will depend entirely on the successful commercialization of ACR-368 and the ability to transition from a research-heavy to a revenue-generating model.
According to recent SEC filings, the company's net losses are periodically exacerbated by stock-based compensation, which reached $3.9M in 2025Q2, suggesting that equity-based incentives remain a significant component of the firm's talent retention strategy despite the lack of commercial product revenue or positive cash flow.
The reliance on non-cash compensation helps preserve cash reserves but dilutes existing shareholders, which warrants investigation into the long-term impact on EPS. Analysts should distinguish between core operational burn and these non-cash charges when assessing the true sustainability of the company's current financial trajectory.
While the AP3 platform offers a unique proteomic approach, the market may be underestimating the complexity of commercializing a drug that is inextricably linked to a proprietary diagnostic test, which could lead to slower-than-expected adoption rates compared to standard genomic-based therapies in the oncology sector.
The requirement for a companion diagnostic creates a potential bottleneck in the patient identification process that could hinder rapid market uptake. Investors should consider whether the clinical benefits of ACR-368 are sufficient to overcome the logistical hurdles inherent in the company's precision-medicine-first business model.
Quick answers to the most common questions about buying ACRV stock.
For fiscal year 2025, Acrivon Therapeutics, Inc. Common Stock (ACRV) reported total revenue of $0.0M.
Acrivon Therapeutics, Inc. Common Stock (ACRV) reported a net loss of $77.9M for the fiscal year ending 2025.