Ryvu Therapeutics Reports Third Quarter 2023 Financial Results and Provides Corporate Update

• The total operating revenues amounted to $11.9M and increased by 42% compared to Q3 2022.
• Updated data from Phase Ib study of RVU120 in AML/HR-MDS to be presented at the upcoming American Society of Hematology (ASH) Annual Meeting in December.
• Preparations for executing Phase II clinical trials of RVU120 in AML and HR-MDS are in advanced stages.
• Ryvu’s PRMT5 program and synthetic lethality platform were highlighted with preclinical data recently presented at the 2023 AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics.
• The current cash position of $64.5M, together with other already secured funding sources provides a runway until Q1 2026.
  

KRAKOW, Poland, Nov. 29, 2023 (GLOBE NEWSWIRE) -- Ryvu Therapeutics (WSE: RVU), a clinical-stage drug discovery and development company focusing on novel small molecule therapies that address emerging targets in oncology, today reported financial results for the third quarter of 2023 and provided a corporate update.

“The third quarter and the last months of 2023 proved to be an exceptionally productive period for our company,” said Pawel Przewięźlikowski, CEO of Ryvu Therapeutics. “In October, we announced the updated development plan for the RVU120 program. Considering the attractive development opportunities, we plan to advance RVU120 into multiple Phase II studies, focusing on hematologic malignancies. We have also entered into key partnerships with service providers that will enable a quick study start for planned studies. As our clinical-stage pipeline advances, we continue to make significant progress in our earlier-stage pipeline, highlighted by the presentation of data from our synthetic lethality program at this year’s AACR-NCI-EORTC meeting, including our potentially best-in-class MTA-cooperative PRMT5 inhibitors. Looking ahead, Ryvu remains well capitalized to execute our clinical development strategy, with our cash runway still through the first quarter of 2026.”

Third Quarter 2023 and Recent Highlights

Announced updated clinical development plan for RVU120

• In Q4 2023, Ryvu expects to initiate two Phase II studies evaluating RVU120 as a single agent in two cohorts of genetically defined patients with AML or HR-MDS (RIVER-52) and in combination with venetoclax in patients with AML (RIVER-81).
• Ryvu will financially support a dedicated Phase II clinical trial in patients with low-risk myelodysplastic syndromes (LR-MDS) – the REMARK study. REMARK will be conducted as an investigator-initiated study through the EMSCO network, with Prof. Uwe Platzbecker, a globally renowned expert in the field of LR-MDS, taking on the role of Coordinating Principal Investigator. The start-up activities for the study have already been initiated, and patient enrollment is planned to start in H1 2024.
• Ryvu will initiate a new study, POTAMI-61, evaluating RVU120 in patients with myelofibrosis (MF). Start-up activities for the study are ongoing, with patient enrollment planned to begin in Q2 2024.
• Translational research in solid tumors will be ongoing, including combination studies in multiple solid tumor types, as well as academic collaborations on medulloblastoma and sarcoma.
• The updated RVU120 clinical development plan includes studies that may lead to three drug approvals in 2026-2027 (RIVER-52, RIVER-81, and POTAMI-61 studies).