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Highlights

  • Completed Phase 1a trial and initiated Phase 1b expansion for lead candidate AVA6000 targeting multiple cancer types.

  • Advanced AVA6103 to IND-enabling studies, paving the way for clinical trials in early 2026.

  • Strategic AI partnership and divestment of diagnostics arm bolsters cash position, extending runway to Q1 2026.

Avacta Therapeutics plc (LSE:AVCT), a UK-based life sciences company specialising in oncology therapeutics, has released its unaudited preliminary financial and operational results for the full year ended December 31, 2024 (FY24). The company marked a pivotal year in its transformation into a pure-play oncology biopharmaceutical firm, driven by the continued development of its proprietary pre|CISION® peptide drug conjugate (PDC) platform.

During FY24, Avacta reinforced its focus on targeted cancer therapies by progressing its lead drug candidate, AVA6000, also referred to as FAP-Dox. This investigational therapy uses the pre|CISION® platform to selectively deliver a potent chemotherapy agent, doxorubicin, to tumour sites while limiting exposure to healthy tissues. The company successfully completed the Phase 1a dose escalation trial, and initiated Phase 1b expansion cohorts focused on three specific indications: salivary gland cancers, triple negative breast cancer (TNBC), and high-grade soft tissue sarcomas.

Initial clinical data from the salivary gland cancer cohort is expected by late 2025, while data from the TNBC group is anticipated in the first half of 2026. Planning is already underway for Phase 2 trials in all three indications, with launches targeted in H1 2026.

Avacta also reported significant advancement on its second candidate, AVA6103 (FAP-EXd), which is also part of the pre|CISION® platform. The candidate has progressed through clinical candidate selection, enabling the company to begin IND-enabling studies and Good Manufacturing Practice (GMP) process development. These milestones position AVA6103 to enter Phase 1 clinical trials in Q1 2026.

In addition to pipeline advancements, Avacta entered into a strategic partnership with Tempus, a technology company leveraging artificial intelligence to enhance precision medicine and clinical development. 

On the financial front, cash and short-term deposits stood at £12.9 million as of December 31, 2024, compared to £16.6 million a year earlier. However, this figure increased to £17.3 million by April 30, 2025, following the company’s divestment of Launch Diagnostics. This extended the company's cash runway into the first quarter of 2026.