AVEO Pharmaceuticals, Inc.
|Company Name||AVEO Pharmaceuticals, Inc.|
On January 31, 2019, AVEO announced it would not file a New Drug Application for tivozanib (FOTIVDA®). According to AVEO, the FDA indicated that these “preliminary OS results do not allay their concerns about the potential detriment in OS outlined in the complete response letter dated June 6, 2013.” AVEO “plans to make a NDA filing decision following the availability of more mature OS results.” On this news, shares of AVEO fell $1.07 per share, or over 60%, to close at $0.70 per share on January 31, 2019, thereby injuring investors.
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