Avacta Group PLC (AVCT)

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Avacta hails "important milestones" in start of "transformative" year

Avacta hails "important milestones" in start of "transformative" year 2026-04-09T12:04:51+0000

(Alliance News) - Avacta Group PLC on Thursday said it "continued to build momentum" in the first quarter, highlighting favourable developments for its oncology products.

In response, Avacta shares rose 2.1% to 69.64 pence in London on Thursday.

The London-based biopharmaceutical company, which is developing the 'pre|CISION' oncology delivery platform, noted that on March 31 the first patient was treated with its AVA6103 programme in the Focus-01 phase 1 clinical trial.

Avacta also noted the publication of "highly favourable data" in February, comparing the pre|CISION sustained release payload delivery of AVA6103 with antibody drug conjugate Enhertu.

For its AVA6000 programme, meanwhile, Avacta said that "positive health authority interactions" resulted in an increased lifetime maximum dose and an agreement on dose selection for subsequent trials.

Avacta expects initial clinical data from the AVA6103 programme late in the second half of this year, after updated preclinical and translational data are presented on April 21. It also anticipates an update on AVA6000 clinical data from the phase 1a and 1b cohorts in the first half of this year.

Avacta will, in addition, present updated preclinical data on its AVA6207 dual payload programme on April 21, followed by payload selection and clinical candidate selection in the second half-year.

"Avacta continued to build momentum, having reached a number of important milestones in the first quarter of 2026, with treatment of the first patient in the Focus-01 trial of AVA6103 being a critical step forward in the development of our pre|CISION platform," Chief Executive Officer Christina Coughlin commented.

She added: "Furthermore, our AVA6000 (faridoxorubicin) program is especially well-positioned following the updates from health authorities...Our first, second and third generation assets are all attracting substantial interest from multiple parties for potential partnering."

Avacta also noted that, as announced on March 27, it raised GBP10 million through an oversubscribed placing and subscription, extending its cash runway into the early first quarter of 2027.

Consequently, Coughlin said, "we now have funding in place beyond multiple value inflection points through the rest of 2026 and we are excited about this potentially transformative period for the company, delivering benefit for our patients and our shareholders alike."

By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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