Acrivon Therapeutics, Inc. Common Stock
ACRVHealthcare|Biotechnology|US
$1.61
+0.04 (+2.55%)
DCF Value
$0.96
Tangible Book / Share
$2.07
Cash / Share
$2.15
Financials
Financial Snapshot
Market Cap
$69.0M
Enterprise Value
$29.7M
Revenue (TTM)
$0.00
Net Income (TTM)
-$74.2M
Cash & Investments
$90.0M
Net Cash
$87.8M
Free Cash Flow (TTM)
-$64.1M
Operating CF (TTM)
-$62.9M
Debt/Equity
0.02
Cash Runway & Burn Rate
Cash on Hand
$90.0M
Quarterly Burn
$15.7M
Monthly Burn
$5.2M
Est. Runway
~5.7 quarters
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $1.6M | $99.6M | $127.8M | $127.5M | $179.5M | $118.6M | $90.0M | |
| Operating Cash Flow | -$2.8M | -$14.0M | -$30.1M | -$42.6M | -$65.7M | -$63.7M | -$62.9M | |
| Free Cash Flow | -$2.8M | -$14.2M | -$32.3M | -$43.9M | -$68.4M | -$65.3M | -$64.1M | |
| Capital Expenditure | -$15.0K | -$238.0K | -$2.2M | -$1.3M | -$2.8M | -$1.7M | -$1.2M | |
| Financing Cash Flow | $2.9M | $112.2M | $101.7M | -$1.6M | $121.0M | -$749.0K | $6.9M |
R&D Spending
R&D (TTM)
$57.3M
R&D Intensity
—
R&D Growth vs Prior
-4.4%
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $1.9M | $13.7M | $23.9M | $45.5M | $64.0M | $60.0M | $57.3M | |
| SG&A | $1.3M | $2.5M | $8.7M | $21.2M | $25.2M | $24.1M | $21.0M |
Income Statement
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $13.0K | $0.00 | $0.00 | $536.0K | $1.0M | $1.4M | -$528.0K | |
| Gross Profit | -$13.0K | $0.00 | $0.00 | -$536.0K | -$1.0M | -$1.4M | $528.0K | |
| R&D | $1.9M | $13.7M | $23.9M | $45.5M | $64.0M | $60.0M | $57.3M | |
| SG&A | $1.3M | $2.5M | $8.7M | $21.2M | $25.2M | $24.1M | $21.0M | |
| Operating Income | -$3.2M | -$16.2M | -$32.7M | -$67.2M | -$89.2M | -$84.1M | -$78.4M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$5.3M | -$16.2M | -$31.2M | -$60.4M | -$80.6M | -$77.9M | -$74.2M | |
| Net Income | -$5.3M | -$16.2M | -$31.2M | -$60.4M | -$80.6M | -$77.9M | -$74.2M | |
| EPS (Diluted) | -0.41 | -1.26 | -1.42 | -2.74 | -2.10 | -2.02 | -1.88 | |
| EBITDA | -$5.3M | -$16.2M | -$30.8M | -$59.9M | -$79.5M | -$76.5M | -$78.9M | |
| Shares Out. (M) | 12.91 | 12.91 | 21.92 | 22.08 | 38.30 | 38.51 | 41.84 |
Balance Sheet
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.6M | $99.6M | $29.5M | $36.0M | $39.8M | $41.5M | $41.4M | |
| Short-Term Investments | $0.00 | $0.00 | $98.2M | $91.4M | $139.7M | $77.1M | $48.5M | |
| Total Current Assets | $1.7M | $100.4M | $132.1M | $129.7M | $181.6M | $120.4M | $91.5M | |
| Total Assets | $2.2M | $106.6M | $181.2M | $138.3M | $196.6M | $129.7M | $99.1M | |
| Total Current Liabilities | $613.0K | $2.9M | $6.5M | $13.3M | $17.2M | $15.7M | $11.4M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $980.0K | |
| Total Liabilities | $10.6M | $130.4M | $10.8M | $17.1M | $19.8M | $17.2M | $12.4M | |
| Stockholders' Equity | -$8.4M | -$23.8M | $170.5M | $121.2M | $176.8M | $112.5M | $86.7M | |
| Retained Earnings | -$8.6M | -$24.9M | -$56.0M | -$116.4M | -$197.0M | -$274.9M | -$311.9M |
Cash Flow Statement
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.8M | -$14.0M | -$30.1M | -$42.6M | -$65.7M | -$63.7M | -$62.9M | |
| Capital Expenditure | -$15.0K | -$238.0K | -$2.2M | -$1.3M | -$2.8M | -$1.7M | -$1.2M | |
| Free Cash Flow | -$2.8M | -$14.2M | -$32.3M | -$43.9M | -$68.4M | -$65.3M | -$64.1M | |
| Investing Cash Flow | -$15.0K | -$238.0K | -$141.7M | $50.7M | -$51.8M | $66.1M | $55.5M | |
| Financing Cash Flow | $2.9M | $112.2M | $101.7M | -$1.6M | $121.0M | -$749.0K | $6.9M | |
| Issuance of Stock | $0.00 | $0.00 | $104.5M | -$257.0K | $70.0M | $1.0K | $7.3M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $58.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $3.0K | $497.0K | $2.2M | $11.6M | $14.3M | $14.7M | $11.4M | |
| Net Change in Cash | $71.0K | $98.0M | -$70.1M | $6.5M | $3.6M | $1.7M | -$475.0K |
Dilution Tracker
Shares outstanding grew 198.3% over 5 years — significant dilution
Shares Outstanding
43M
5-Year Share Growth
+198.3%
Stock Issuance (TTM)
$7.3M
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 12.91 | 12.91 | 21.92 | 22.08 | 38.30 | 38.51 | 41.84 | |
| Change vs Prior % | — | 0.0% | 69.8% | 0.7% | 73.5% | 0.6% | 8.7% | |
| Stock Issuance | $0.00 | $0.00 | $104.5M | -$257.0K | $70.0M | $1.0K | $7.3M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $3.0K | $497.0K | $2.2M | $11.6M | $14.3M | $14.7M | $11.4M |
Margins & Profitability
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| ROE % | 63.1% | 68.2% | -18.3% | -49.8% | -45.6% | -69.2% | -70.1% | |
| ROA % | -242.8% | -15.2% | -17.2% | -43.7% | -41.0% | -60.1% | -74.9% | |
| ROIC % | -194.4% | -15.5% | -18.6% | -53.4% | -49.4% | -73.0% | -88.3% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | 100.0% | 0.0% | 0.0% | -87.7% | -34.8% | |
| Operating Income | 0.0% | -410.9% | -101.8% | -105.9% | -32.7% | 5.7% | |
| Net Income | 0.0% | -206.1% | -91.9% | -93.8% | -33.4% | 3.3% | |
| EPS (Diluted) | 0.0% | -207.3% | -12.7% | -93.0% | 23.4% | 3.8% | |
| Operating Cash Flow | 0.0% | -398.8% | -115.4% | -41.6% | -54.0% | 3.1% | |
| Free Cash Flow | 0.0% | -404.6% | -127.0% | -36.1% | -55.8% | 4.5% | |
| R&D Expense | 0.0% | 633.6% | 74.6% | 89.9% | 40.7% | -6.3% | |
| SG&A Expense | 0.0% | 90.0% | 253.1% | 143.6% | 18.8% | -4.3% | |
| Total Assets | 0.0% | 4778.1% | 70.0% | -23.7% | 42.2% | -34.0% | |
| Book Value / Share | 0.0% | -183.0% | 521.7% | -29.4% | -15.9% | -36.7% | |
| Debt | 0.0% | 9603.4% | -11.9% | -6.4% | -21.5% | -25.7% | |
| Diluted Shares | 0.0% | 0.0% | 69.8% | 0.7% | 73.5% | 0.6% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B0.78
10Y Low / Med / High0.82 / 1.30 / 1.48
EV/EBITDAAt Loss
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.96
Tangible Book / Share
$2.07
Net Current Assets / Share
$1.85
Graham Net-Net
$1.85
Cash / Share
$2.15
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -40.59 | -13.21 | -8.11 | -1.80 | -2.87 | -1.19 | -0.86 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | -25.53 | -9.02 | 1.48 | 0.90 | 1.30 | 0.82 | 0.78 | |
| EV/EBITDA | -40.30 | -7.46 | -7.40 | -1.29 | -2.44 | -0.71 | -0.38 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-2.78
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $1.5M | $166.3K | $13.8M |
| Net Income | -$74.9M | -$90.3M | -$57.3M |
| EPS | $-1.85 | $-1.66 | $-1.28 |
| # Analysts (EPS) | 5 | 5 | 5 |