Aravive Inc. (NASDAQ:ARAV), a late clinical-stage oncology company developing innovative therapeutics to treat life-threatening diseases, today announced that it received a $6 million development milestone payment from its licensee, 3D Medicines Inc. This milestone is based on the initiation of the global Phase 3 platinum resistant ovarian cancer (PROC) clinical trial in China for the development of Aravive’s batiraxcept.
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U.S. stocks settled mostly lower on Friday, following an increase in crude oil prices and higher inflation expectations. However, the Dow and S&P 500 recorded weekly gains, closing higher by around 0.8% and 0.45% respectively.
