HOUSTON, Nov. 26, 2019 (GLOBE NEWSWIRE) -- Aravive, Inc. (Nasdaq: ARAV), (“Aravive”) a clinical-stage biopharmaceutical company developing treatments designed to halt the progression of life-threatening diseases, including cancer and fibrosis, today announced that it has commenced an underwritten public offering of the sale of its shares of common stock. In connection with this offering, Aravive intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the public offering. All of the shares are being offered by Aravive. Aravive currently intends to use the net proceeds from this offering primarily for research, development and manufacturing of product candidates, and for other general corporate purposes including, to acquire, license or invest in complementary businesses, technologies, product candidates or other intellectual property.
Piper Jaffray and Cantor Fitzgerald & Co. are acting as joint book runners for the offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
About Aravive
Aravive is a clinical-stage biopharmaceutical company developing treatments designed to halt the progression of life-threatening diseases, including cancer and fibrosis. Aravive’s lead product candidate, AVB-500, is an ultrahigh-affinity decoy protein that targets the GAS6-AXL signaling pathway. By capturing serum GAS6, AVB-500 starves the AXL pathway of its signal, potentially halting the biological programming that promotes disease progression. AXL receptor signaling plays an important role in multiple types of malignancies by promoting metastasis, cancer cell survival, resistance to treatments, and immune suppression. The GAS6-AXL signaling pathway also plays a significant role in fibrogenesis. Aravive is evaluating AVB-500 in platinum-resistant ovarian cancer, and intends to expand development into additional oncology and fibrotic indications.
