arav-8k_20191120.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 20, 2019

 

Aravive, Inc.

(Exact name of registrant as specified in its charter)

 

 

Delaware

 

001-36361

 

26-4106690

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

River Oaks Tower

3730 Kirby Drive, Suite 1200

Houston, Texas 77098

(Address of principal executive offices)

 

(936) 355-1910

(Registrant’s telephone number, including area code)

 

 

(Former Name, Former Address and Former Fiscal Year, if changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading
Symbol(s)

 

Name of each exchange
on which registered

Common stock, par value $0.0001 per share

 

ARAV

 

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 


 

Item 8.01 Other Events

On November 20, 2019, Aravive, Inc. (the “Company”) issued a press release announcing new positive data from the ongoing Phase 1b portion of the Phase 1b/2 clinical trial of AVB-500 in platinum-resistant ovarian cancer patients. The data from the first 31 patients treated at the 10mg/kg dose level are maturing and affirm earlier findings on the relationship between AVB-500 levels and anti-tumor response. In this data analysis, high serum drug levels of AVB-500 were strongly predictive of anti-tumor activity with statistically significant correlation to progression free survival (PFS; p=0.0066). PFS is the primary endpoint for platinum-resistant ovarian cancer clinical trials. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The Company additionally updated its corporate presentation, a copy of which is attached as Exhibit 99.2 hereto and is incorporated herein by reference.

The press release attached as Exhibit 99.1 to this Current Report on Form 8-K and the corporate presentation attached as Exhibit 99.2 to this Current Report on Form 8-K include “safe harbor” language pursuant to the Private Securities Litigation Reform Act of 1995, as amended, indicating that certain statements contained therein are “forward-looking” rather than historical.

The Company undertakes no duty or obligation to update or revise information included in this Current Report on Form 8-K, the press release attached as Exhibit 99.1 hereto or the corporate presentation attached as Exhibit 99.2 hereto.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

The following exhibits are filed with this Current Report on Form 8-K:

 

 

 

 

Exhibit
Number

 

Description

 

 

 

99.1

 

Aravive, Inc. Press Release, dated November 20, 2019

99.2

  

Corporate Presentation, dated November 20, 2019

 

 

 


 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: November 20, 2019

ARAVIVE, INC.

(Registrant)

 

 

 

By:

 

/s/ Jay P. Shepard

 

Name:

 

Jay P. Shepard

 

Title:

 

Chief Executive Officer

 

 

arav-ex991_7.htm

Exhibit 99.1

Aravive Reports Positive Data Supporting Relationship Between AVB-500 Levels, Anti-Tumor Activity and Progression Free Survival in Women with Ovarian Cancer

Statistically significant four-fold increase in progression free survival observed in women with high AVB-500 levels

Aravive to Host Conference Call Today at 8 a.m. EST

 

HOUSTON, Nov. 20, 2019 (GLOBE NEWSWIRE) -- Aravive, Inc. (Nasdaq: ARAV) today announced new positive data from the ongoing Phase 1b portion of the Phase 1b/2 clinical trial of AVB-500 in platinum-resistant recurrent ovarian cancer patients. The data from the first 31 patients treated at the 10mg/kg dose are maturing and affirm earlier findings on the relationship between AVB-500 levels and anti-tumor response. In this data analysis, high serum drug levels of AVB-500 were strongly predictive of anti-tumor activity with statistically significant correlation to progression-free survival (PFS; p=0.0066). PFS is the primary endpoint for platinum-resistant ovarian cancer clinical trials.

At the 10 mg/kg dose, patients that met or exceeded the minimal efficacious concentration of AVB-500 demonstrated a greater than four-fold increase in median PFS over those with low exposure (8.1 vs. 1.8 months; p=0.0016) and approximately two-fold improvement in overall response rate (ORR; 29% vs. 14%), including one complete response (CR). Patients who achieved sufficient AVB-500 exposure also showed improvements in duration of response (from 7.6 to 3.9 months) and clinical benefit rate (82% vs. 43%), with reduced chance of progressing by 3.2-fold (from 57% to 18%).

“Platinum-resistant ovarian cancer is one of the most difficult diseases to treat, not only because of the poor prognosis, but because of the toxicities associated with chemotherapies,” said Katherine Fuh, M.D., Ph.D., Assistant Professor in Obstetrics and Gynecology, Washington University School of Medicine, and an investigator in the study. “The safety profile of AVB-500 along with the emerging data showing improvement in clinical benefit rate and progression-free survival, support the use of AVB-500 to change the treatment landscape for these patients.”

The open-label, Phase 1b portion of the Phase 1b/2 clinical trial of AVB-500 enrolled patients with platinum-resistant recurrent ovarian cancer in two cohorts, one investigating a combination of AVB-500 with pegylated liposomal doxorubicin (PLD) and the other a combination with paclitaxel (PAC). All patients were treated with 10mg/kg AVB-500 every other week. The company previously reported drug exposure-response relationship among the initial patients receiving 10 mg/kg.  

The study identified a minimal efficacious concentration (MEC) (trough level greater than 13.8 mg/L) that is consistent with at least 95% target engagement based on independent pharmacokinetic (PK) modeling. At the 10 mg/kg dose, 17 of 31 patients in the study (approximately 50%) achieved the minimal efficacious concentration after the first dose of AVB-500.

 


 

 

The baseline characteristics, demographics and safety parameters were comparable between patients who achieved the minimal efficacious concentration and those who fell below that threshold. The analysis shows that the clinical benefit at this dose level in the study can be primarily attributed to AVB-500 exposure.

The analysis of the best overall response by investigator determined RECIST v1.1 criteria data are summarized in the table below:

 

 

High AVB-500 Exposure*

Low AVB-500 Exposure*

Number of Patients (n)  

17

14

Complete Response (CR)

1** (6%)

0

Partial Response (PR)

4 (24%)

2 (14%)

Overall Response (ORR, PR+CR)

5 (29%)

2 (14%)

Stable Disease (SD)

9 (53%)

4 (28%)

Progressive Disease (PD)

3 (18%)

8 (57%)

Clinical Benefit (SD+PR)

14 (82%)

6 (43%)

Median PFS (months)

8.1

1.8

Median DOR (months)

7.6

3.9

Number of patients still on study***

8 (47%)

0

* High vs. Low is based on above or below MEC, respectively

**Needs to be confirmed with repeat scan

*** As of Oct. 31, 2019

 

The company cautions that the data analyses were conducted on a small patient population (n=31).

Other notable findings:

 

The patient with CR that is pending confirmation achieved the MEC of AVB-500 and was on paclitaxel. She had a baseline serum GAS6 level typical of the platinum-resistant ovarian cancer population and two-fold higher than that observed in healthy volunteers. She also exhibited poor prognostic factors, including two prior lines of therapy and platinum-free interval of less than three months.

 

Among the patients who responded to AVB-500, four of seven remain responders and continue on study, and two patients remain on AVB-500 as a single agent. All four patients achieved the minimal efficacious AVB-500 concentration.

 

Among the 13 patients whose best response was SD, four achieved the MEC of AVB-500 and remain on study.  One SD patient, whose trough level was below the minimal efficacious concentration, did not progress but withdrew consent. Because the study is still ongoing and includes only patients above the MEC, duration of response and PFS may continue to evolve.

 


 

 

“The strong exposure-response relationship suggests that AVB-500 is adding to the clinical benefit experienced by patients on standard of care therapy,” said Gail McIntyre, Ph.D., chief scientific officer of Aravive. “The improvements in progression-free survival with AVB-500 bodes well for future studies where that will be the primary endpoint measured to support regulatory filing.”

These data confirm the company’s strategy to investigate higher doses in the current Phase 1b study, to determine if a greater proportion of patients can exceed the MEC. According to our modeling, a dose of 20 mg/kg should allow greater than 90% of the patients to achieve the MEC. It is anticipated 6 to 12 patients will be treated with 15mg/kg and an additional 12 patients will be treated with 20mg/kg. An independent safety monitoring group will review data from the 15mg/kg group prior to escalation to the 20mg/kg dose.

AVB-500 continues to be well-tolerated and there have been no serious and unexpected adverse reactions or dose-limiting toxicities to date.

Conference Call Information:

Aravive will host a live conference call and webcast at 8:00 a.m. ET today to discuss these clinical data. The conference call may be accessed by dialing (844) 281-9845 (domestic) and (314) 888-4254 (international) and referring to conference ID 2965263. A webcast of the conference call will be available in the Investors section of the Aravive website at https://ir.aravive.com/. The archived webcast will be available on Aravive’s website after the conference call.

About AVB-500

AVB-500 is a therapeutic recombinant fusion protein that has been shown to neutralize GAS6 activity by binding to GAS6 with very high affinity. In doing so, AVB-500 selectively inhibits the GAS6-AXL signaling pathway. In preclinical studies, GAS6-AXL inhibition has shown anti-tumor activity, both as a single agent and in combination with a variety of anticancer therapies including radiation therapy, immuno-oncology agents and chemotherapeutic drugs that affect DNA replication and repair. Increased expression of AXL and GAS6 in tumors is correlated to poor prognosis and survival, and has been implicated in therapeutic resistance to conventional chemotherapeutics and targeted therapies.

Aravive reported positive data from the expansion cohort in the Phase 1b portion of a Phase 1b/2 clinical trial of AVB-500 in platinum-resistant recurrent ovarian cancer. AVB-500 continues to be well tolerated with no dose limiting toxicities. An investigator-sponsored Phase 1 study of AVB-500, in combination with durvalumab in patients with platinum-resistant recurrent epithelial ovarian cancer, is also ongoing. Based on AVB-500’s safety profile and specifically targeted mechanism of action, this drug candidate has the potential to be used both in combination with existing therapies, as well as a maintenance drug. The U.S. Food and Drug Administration granted Fast Track Designation to AVB-500 in platinum-resistant recurrent ovarian cancer.

 


 

 

About Aravive

Aravive, Inc. (Nasdaq: ARAV) is a clinical-stage biopharmaceutical company developing treatments designed to halt the progression of life-threatening diseases, including cancer and fibrosis. Aravive’s lead product candidate, AVB-500, is an ultra-high affinity decoy protein that targets the GAS6-AXL signaling pathway. By capturing serum GAS6, AVB-500 starves the AXL pathway of its signal, potentially halting the biological programming that promotes disease progression. AXL receptor signaling plays an important role in multiple types of malignancies by promoting metastasis, cancer cell survival, resistance to treatments, and immune suppression. The GAS6-AXL signaling pathway also plays a significant role in fibrogenesis. Aravive is evaluating AVB-500 in platinum-resistant ovarian cancer and intends to expand development into additional oncology and fibrotic indications. Aravive is based in Houston, Texas and received a Product Development Award from the Cancer Prevention & Research Institute of Texas (CPRIT) in 2016. For more information, please visit www.aravive.com.

Forward-Looking Statements

This communication contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended), express or implied, concerning the strong exposure-response relationship suggesting that AVB-500 is adding to the clinical benefit experienced by patients on standard of care therapy, the safety profile of AVB-500 along with the improvement in clinical benefit rate and progression-free survival supporting the use of AVB-500 to change the treatment landscape for these patients, the improvements in progression-free survival with AVB-500 boding well for future pivotal studies where that will be the primary endpoint measured to support regulatory filing, a dose of 20 mg/kg should allow 90% or greater of the patients to achieve the desired high drug exposure levels, the existence of a dose response relationship with AVB-500, the potential of AVB-500 to be used both in combination with existing therapies, as well as a maintenance drug, the potential of AVB-500 to halt the biological programming that promotes disease progression and the expansion of the development of AVB-500 into additional oncology and fibrotic indications. Forward-looking statements are based on current beliefs and assumptions, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement as a result of various factors, including, but not limited to, risks and uncertainties related to: the Company’s ability to expand development in 2019 into additional oncology and fibrotic indications, the Company’s dependence upon AVB-500, AVB-500’s ability to have favorable results in clinical trials or receive regulatory approval, potential delays in the Company's clinical trials due to regulatory requirements or difficulty identifying qualified investigators or enrolling patients; the risk that AVB-500 may cause serious side effects or have properties that delay or prevent regulatory approval or limit its commercial potential; the risk that the Company may encounter difficulties in manufacturing AVB-500; if AVB-500 is approved, risks associated with its market acceptance, including pricing and reimbursement; potential difficulties enforcing the Company's intellectual property rights; the Company's reliance on its licensor of intellectual property and financing needs. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as

 


 

 

exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company's Annual Report on Form 10-K and Form 10-K/A for the fiscal year ended December 31, 2018,  recent Current Reports on Form 8-K and subsequent filings with the SEC. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts for Aravive:

Investors:

Christina Tartaglia

Stern Investor Relations

christina@sternir.com

Media:

Heidi Chokeir

Canale Communications

heidi@canalecomm.com

619-203-5391

 

arav-ex992_9.pptx.htm

Slide 1

Halting Disease Progression in its Tracks © 2019 Aravive, Inc. Aravive Corporate Presentation November 2019 Exhibit 99.2

Slide 2

Important Information © 2019 Aravive, Inc. Forward-Looking Statements This presentation contains forward-looking statements that may discuss Aravive’s plans, goals, intentions and expectations as to future trends, events, results of operations, financial condition or other matters. Forward- looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and they often include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” and other similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements included in this presentation include statements regarding Aravive’s planned clinical activities, including the design, initiation, patient enrollment and availability of data from clinical studies, future indications and cash position and the anticipated safety, activity and manufacturability of Aravive’s product candidates. Forward-looking statements are based on Aravive’s current beliefs and assumptions, are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the unpredictability of clinical development activities; risks related to Aravive’s ability to estimate and control its operating expenses; Aravive’s ability to protect its intellectual property rights; changes in the competitive environment; and legislative, regulatory, political and economic developments. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in Aravive’s most recent Annual Report on Form 10-K and 10-K/A, subsequent Quarterly Report on Form 10-Q and Current Reports on Form 8-K filed with the Securities and Exchange Commission. Except as required by law, Aravive undertakes no obligation to revise or update any forward-looking statement or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Slide 3

Company Overview The Company Lead Clinical Program (AVB-500) Aravive is a clinical stage company developing treatments designed to halt the progression of life-threatening diseases, including cancer and fibrosis NASDAQ-listed company (ARAV) Offices in Houston, TX (hdqtrs.) and Palo Alto, CA $20 million Product Development Award from the Cancer Prevention & Research Institute of Texas (CPRIT) Led by a team of industry veterans with decades of target biology, drug development, & commercialization expertise Multiple clinical and program milestones during 2020 A first-in-class, ultra-high affinity, Fc-fusion protein designed to selectively block the novel GAS6-AXL signaling pathway Proof-of-mechanism established in clinic using proprietary biomarker for target engagement Early proof-of-concept for anti-tumor activity demonstrated in platinum-resistant ovarian cancer Currently in expanded Phase 1b/2 for platinum-resistant ovarian cancer; Fast-track designation granted by the FDA Ideal profile for combination with chemo, check-point inhibitors and PARP inhibitors in broad range of indications IP coverage through 2033 and beyond Our approach draws on novel insights into targeting signaling pathways that drive the activation, migration and invasion of abnormal cells into healthy tissues © 2019 Aravive, Inc.

Slide 4

Pipeline Focused on GAS6/AXL Signaling in Oncology & Fibrosis Indication Preclinical Phase 1 Phase 1*Phase 1b Phase 2 Phase 3 AVB-S6-TBD Ovarian Cancer platinum resistant Clear Cell Renal Cancer 3rd Oncology (undisclosed indication) Kidney Fibrosis (IgAN) Chronic Fibrosis (undisclosed indication) AVB-500 Status: P1b/P2 Initiation expected 4Q19/1Q20 Status: P1b expansion to confirm early efficacy Status: Initiation expected 4Q 2019 © 2019 Aravive, Inc. Ovarian Cancer platinum resistant (PD-L1i combo; AZ; IST) Status: Recruiting 4Q2019 IST= investigator sponsored trial

Slide 5

AXL Tyrosine Kinase Promotes Invasion, Metastasis, and Resistance AXL is a member of tyrosine kinases that include Tyro3, AXL, and Mer (TAMs) AXL is activated by a single ligand, growth arrest–specific 6 (GAS6); Mer and Tyro3 can be activated by GAS6 and Protein S 1 Upregulated in many cancers 2, AXL overexpression linked to metastasis 3,4, poor survival 5-7, and drug resistance 8,9 Unusually strong binding affinity between GAS6 and AXL of ~ 30 pM makes development of inhibitors to the pathway challenging 1 1 J Clin Invest. 2017;127(1):183–198. 2 Adv Cancer Res. 2008;100:35–83. 3 Oncogene. 2009;28(39):3442–3455 4 Cancer Res. 2010;70(19):7570–7579 5 Proc Natl Acad Sci U S A. 2006;103(15):5799–5804 6 Ann Diagn Pathol. 2013;17(5):425–429 7 Proc Natl Acad Sci U S A. 2010;107(3):1124–1129 8 Nat Genet. 2012;44(8):852–860 9 Cancer Res. 2013;73(1):331–340 Figure from Clinical Science Apr 01, 2012, 122 (8) 361-368

Slide 6

GAS6/AXL Signaling: Decoy Receptor is the Best Approach for Potent and Selective Inhibition WT AXL has pM Affinity; AVB-500 AXL Decoy has fM Affinity Selectivity limited by RTK homology Off-target toxicity Multiple resistance mechanisms Many potential competitors Decoy AXL Receptor AXL or GAS6 Antibody Tyrosine Kinase Inhibitor Requires a mAB affinity that competes with receptor Not achievable for AXL Many potential competitors Binds more tightly to GAS6 than WT AXL Complete target coverage with no anticipated off-target toxicity First-in-Class with strong IP position kinase domain © 2019 Aravive, Inc.

Slide 7

Other Drugs Targeting AXL Signaling in Clinical Development are Not Selective Drug (Stage) Company Target Selective for AXL AVB-500 (Ph Ib/II) Aravive GAS6 YES Gilterinib (Market) Astellas AXL NO Cabozantinib (Market) Exelixis AXL NO Sitravatinib (Ph III) Mirati (BeiGene) AXL NO Merestinib (Ph II) Lilly AXL NO BGB324 (Ph II) BergenBio AXL NO S49076 (Ph i/II) Servier AXL NO TP-0903 (Ph I/II) Tolero (Sumitomo) AXL NO BPI-9016M (Ph I) Betta Pharmaceuticals AXL NO ONO-7475-01 (Ph I) Ono Pharmaceuticals AXL NO RXDX-106 (Ph I) Ignyta AXL NO © 2019 Aravive, Inc. VS.

Slide 8

AVB-500 Inhibits AXL Signaling by Neutralizing GAS6, Sole Ligand for AXL Decoy receptor engineered for very high affinity for GAS6 – ~200 fold greater than native AXL Favorable safety and PK profile GAS6 not needed by normal tissue GLP preclinical studies demonstrate ≥ 30-fold safety margin (relative to max feasible dose in tox; 3-month tox study completed) As biologic, does not compete for metabolism with chemotherapies; facilitates combination with other therapies Small molecules targeting AXL can have off target activities Strong IP position on GAS6 inhibition Proprietary biomarker tests to monitor GAS6 levels; serum GAS6 levels associated with efficacy in preclinical studies Robust CMC Drug candidate manufactured at high yield and purity AVB-S6-500 Demonstrated Favorable Safety Profile and Proof-of-Mechanism in FIH Phase 1 Trial J Clin Invest. 2017;127(1):183–198

Slide 9

GAS6/AXL Signaling is Critical in Resistant Metastatic Ovarian Cancer Expression in 0% (0/10) of normal ovarian tissue Expression in 73% (219/297) ovarian tumor samples including low grade serous, endometroid and advanced stage tumors1 Preclinical in vitro 1,2,3 Inhibition decreases invasion/migration Preclinical in vivo 1,2,3 Inhibition decreases tumor Correlates with chemoresistance to carboplatin and paclitaxel Inhibition improves sensitivity to platinum and taxane therapies Rankin et al, Cancer Res. Oct 1; 70 (19) 2010 Divine et al, Oncotarget 7 (47) 2016; Quinn et al, Mol Cancer Ther November 26 2018; Kariolis et al, J Clin Invest. 2017 Quinn et al. Mol Cancer Therapeutics 2019

Slide 10

AVB-500: A Novel Lead Clinical Program With Attractive Attributes Fast-track designation granted by the FDA for platinum-resistant ovarian cancer; currently in expanded Phase 1b/2 trial with early proof-of-concept data Well-tolerated to date and no anticipated drug-drug interactions facilitate combination studies (unlike small molecules) The ability to combine with common standards of care allows access to a large total accessible market Robust chemistry manufacturing control with high yield and purity © 2019 Aravive, Inc.

Slide 11

AVB500-OC-002: A P1b Study of AVB-500 in Combination with Single Agent Chemotherapy in Platinum-Resistant Ovarian Cancer Key Eligibility Criteria 1-3 prior lines Measurable disease Platinum free interval ≤ 6mo after most recent platinum-containing regimen Adenocarcinoma NOS, high grade endometroid adenocarcinoma, mixed epithelial (≥ 80% high grade serous), high grade serous, or undifferentiated carcinoma ECOG performance status 0-1 Goals for expansion: 1. Safe & tolerated 2. AVB serum biomarker targets met Expansion Cohort PAC: n = 18 PLD: n = 18 AVB + PLD n=6 AVB + PAC n=6 AVB-500 (AVB): Initial dose 10 mg/kg q14 days Pegylated liposomal doxorubicin (PLD): 40 mg/m2 d1; 28 day cycle Paclitaxel (PAC): 80 mg/m2 day 1, day 8, day 15; 28-day cycle NOS= Not Otherwise Specified ECOG= Eastem Cooperative Oncology Group Trial Design (NCT03639246) © 2019 Aravive, Inc.

Slide 12

Safety data for the first 31 patients: AVB-500 (10mg/kg) well-tolerated No serious and unexpected adverse reactions No dose limiting toxicities Infusion reactions managed by premedication regimen 40 patients total have been dosed at 10mg/kg Similar safety profile as that seen with first 31 patients Additional 3 patients have been dosed at 15mg/kg To date, similar safety profile to the 10mg/kg dose © 2019 Aravive, Inc. Safety Summary from Phase 1B to Date

Slide 13

Efficacy Outcomes to Date from Phase 1b Study More Mature Data on 31 Evaluable Patients As of Oct 31 2019 31 Patients First 12 Patients Next 19 Patients Complete Response (CR) + Partial Response (PR) 7 (22%) 5 (42%) 2 (10%) Stable Disease (SD) 13 (42%) 2 (16%) 11 (58%) CBR (SD+CR+PR) 20 (64%) 7 (58%) 13 (68%) Progressive Disease (PD) 11 (35%) 5 (42%) 6 (32%) Both stable disease and response influence progression free survival (PFS) times Response Determined by Investigator-Assessed RECISTv1.1

Slide 14

Identifying Minimal Efficacious Concentration Efficacy Related to Amount of AVB-500 in the Body Investigated the difference between the patients who received 10mg/kg and had clinical benefit (stable disease or response) vs those who did not benefit at this same dose. An unsupervised analysis of all variables (including demographics and baseline characteristics and AVB-500 levels in the blood) demonstrated that the only parameters that were significantly associated to efficacy were drug exposure levels (i.e. trough levels and Cmax levels). Initially found statistically significant relationship between Cmax and response With current data from 31 patients, including progression free survival (PFS) and additional PK data, now see strong significance between PFS and Ctrough levels (p=0.0066) Cmax and Ctrough levels do still correlate The analysis identified a minimal efficacious concentration (13.8 mg/L) that is consistent with at least 95% target engagement based on independent PK modeling. Initially targeted 90% target engagement but PROC data suggests 95% needed At the 10 mg/kg dose, 17 of 31 platinum-resistant ovarian cancer patients (approximately 50%) achieved the minimal efficacious concentration after the first dose of AVB-500.  

Slide 15

© 2019 Aravive, Inc. Sufficient AVB-500 Exposures at 10 mg/kg Increased Median PFS 4-fold, from 2 Months to 8 Months Median progression free survival (PFS) will be the primary endpoint for platinum-resistant ovarian cancer trials Median PFS for platinum-resistant ovarian cancer patients given PAC or PLD is 3-4 months but 6-8 weeks in patients with platinum free interval of less than 3 months and/or on 3rd or greater lines of therapy Above Minimal Efficacious Exposure Below Minimal Efficacious Exposure

Slide 16

Exposure-Response Analysis Demonstrated AVB-500 Levels at 10mg/kg Dose Predict Clinical Benefit © 2019 Aravive, Inc.   Above Minimal Efficacious Exposure Below Minimal Efficacious Exposure Number of Patients (n) 17 14 Complete Response (CR) 1 (6%) 0 Partial Response (PR) 4 (24%) 2 (14%) Overall Response Rate (ORR) 5 (29%) 2 (14%) Stable Disease (SD) 9 (53%) 4 (28%) Clinical Benefit (SD+ORR) 14 (82%) 6 (43%) Median DOR (months) 7.6 3.9 Median PFS (months) 8.1 1.8 Progressive Disease (PD) 3 (18%) 8 (57%) Patients remaining on study as of Oct 31 2019 8 (47%) 0 Sufficient AVB-500 exposures doubled ORR, Clinical Benefit Rate, and duration of response Response rate in below minimal efficacious exposure patients consistent with historical control rates of 10-15% for PAC or PLD Best Response Determined by Investigator-Assessed RECIST 1.1

Slide 17

Historical Control Information Cancer Chemotherapy and Pharmacology (2019) 84:33-39 37 European Journal of Obstetrics & Gynecology and Reproductive Biology 166 (2013) 94–98 Prior Lines AVB500-OC-002 Data from Literature (Plat-S/Plat-R not parsed) 2 (N=14) ORR 29% 12% (6.9%CR) CBR 64% 16% 3 (N=8) ORR 25% 2.9% (0 CR) CBR 75% 9% 26% of the 62 patients in the less than 3 mo PFI group had primary refractory disease

Slide 18

Best Response Determined by Investigator-Assessed RECISTv1.1 for First 31 Patients (10mg/kg): One CR Percent Change in Sum of Target Tumors from Baseline to Best Response Note: 2 pts who were PD at best response (Pac arm) are excluded from the waterfall Pac PLD High exposure patients

Slide 19

Summary of First 31 Patients’ Response as of October 31 2019 CT Scans PAC PLD Partial response Progressed Complete response Stable disease represented by continuous bar * * * * * * * * * * * * * * * * * * High exposure patients

Slide 20

Observations on Patients Continuing On Study The patient with CR achieved the minimal efficacious concentration of AVB-500 while on PAC. She had a baseline serum GAS6 level that was typical of the platinum-resistant ovarian cancer population and 2-fold higher than that observed in healthy volunteers. She also exhibited poor prognostic factors, including two prior lines of therapy and PFI less than 3 months. Confirmatory scan will be done in 4 weeks Among the patients who responded to AVB-500, four of seven remain responders and on study, and two patients remain on AVB-500 as single agent. All 4 achieved minimal efficacious AVB-500 concentration. Among the 13 patients whose best response was SD, four who achieved the minimal efficacious concentration of AVB-500 remain on study. One SD patient whose trough level was below the minimal efficacious concentration did not progress but withdrew consent. Eight (47%) of the patients who achieved the minimal efficacious concentration of AVB-500 remain on study versus none of the patients whose trough values were below that concentration. Because the study is still ongoing, DOR and PFS may continue to evolve.

Slide 21

Comparable Demographics and Baseline Characteristics Confirming AVB-500 Exposure Drives Anti-Tumor Activity Above Minimal Efficacious Concentration Below Minimal Efficacious Concentration Age, years median (min, max) 71 (52-82) 63.0 (53-80) Prior lines* 1 (%) 6 (35.3%) 2 (14.3%) 2 (%) 8 (47.1%) 6 (42.9%) 3 (%) 3 (17.6%) 5 (35.7%) Platinum Free Interval ≥ 3mo 11 (64.7%) 8 (57.1%) < 3mo 6 (35.3%) 6 (42.9%) ECOG 0 11 (64.7%) 6 (42.9%) 1 6 (35.3%) 8 (57.1%) * PAC PT IN BELOW MINIMAL EFFICACIOUS GROUP MISSING VALUE

Slide 22

Next Steps Data confirm strategy to investigate higher doses in the current Phase 1b study to determine if a greater proportion of patients achieve high drug exposure levels PK modeling predict a dose of 20 mg/kg should allow >90% of patients to achieve desired high exposure levels Anticipate 18-24 more patients across both cohorts and at 15 and 20mg/kg Will evaluate percentage of patients achieving minimal efficacious concentration and correlate to response rates Anticipate preliminary data read-out middle of 2020 for 15 and 20mg/kg

Slide 23

Platinum-Resistant Ovarian Cancer Phase 2/3 P1b Will Determine RP2D Anticipate initiating 2H20 Same population as P1b portion Effect size from P1b (all AVB-500 doses) will drive regulatory strategy, statistical plan, Ns Randomized (2:1), double-blind, placebo- controlled study to compare efficacy and tolerability of AVB-500 in combination with PLD or Pac versus placebo plus PLD or Pac Primary objective to assess anti-tumor activity of AVB-S6-500 in combination with Pac Or PLD as measure by PFS Secondary objectives include assessment of PK/PD and additional efficacy endpoints (ORR, OS, DOR, DCR) Platinum Resistant Ovarian Cancer 1-3 prior lines PLD SOC + placebo SOC= standard of care; PLD or PAC SOC + AVB-500

Slide 24

Pipeline Focused on GAS6/AXL Signaling in Oncology & Fibrosis Indication Preclinical Phase 1 Phase 1*Phase 1b Phase 2 Phase 3 AVB-S6-TBD Ovarian Cancer platinum resistant Clear Cell Renal Cancer 3rd Oncology (undisclosed indication) Kidney Fibrosis (IgAN) Chronic Fibrosis (undisclosed indication) AVB-500 Status: P1b/P2 Initiation expected 4Q19/1Q20 Status: P1b expansion to confirm early efficacy Status: Initiation expected 4Q 2019 © 2019 Aravive, Inc. Ovarian Cancer platinum resistant (PD-L1i combo; AZ; IST) Status: Recruiting 4Q2019 IST= investigator sponsored trial

Slide 25

Rationale for AVB-500 in Kidney Cancer Strong biological rationale for clear cell Renal Cell Cancer AXL/GAS6 levels predict prognosis & survival in human Strong in vivo Activity in Preclinical models single agent combo with TKI Xiao et al, Cancer Research October 4, 2019; © 2019 Aravive, Inc. Rankin et al, PNAS | September 16, 2014 | vol. 111 | no. 37 | 13375

Slide 26

Rationale for AVB-500 in Kidney Fibrosis GAS6 acts as a mitogen, stimulating mesangial cell proliferation through binding to its cell-surface receptor AXL Mesangial proliferation is a hallmark of IgAN Coppo et al, Kidney Intl (2014) 86:828-36; Reich et al, J Am Soc Nephrol (2007) 3177-83 M. Yanagita, et al. (1999) J Am Soc Nephrol 10: 2503–2509. Yanigati et al, (2001) Am J Pathol. Apr; 158(4): 1423–1432 © 2019 Aravive, Inc. Strong biological rationale for IgA nephropathy (IgAN) GAS6 levels predict prognosis in human Strong in vivo activity in Preclinical models

Slide 27

AXL Promotes a Suppressive Myeloid Micro-environment ISTs Investigating Combinations of AVB-500 + PDL1 inhibitor AXL presence Decreases tumor T cells (killer) infiltration Decreases Tumor antigen presentation Increases suppressive myeloid cells and macrophages AXL loss Increases Tumor antigen expression Decreases suppressive myeloid cells and macrophage Increases Tumor T cell infiltration Sensitizes tumor cells to checkpoint immunotherapy when they were previously resistant AXL expressed in patients unresponsive to PD-1/PD-L1 immunotherapy Adapted from NATURE COMMUNICATIONS | 7:13898 | DOI: 10.1038/ncomms13898 | © 2019 Aravive, Inc.

Slide 28

Experienced, Methodical, Efficient Development Execution Strong Clinical Development Team © 2019 Aravive, Inc. Dev Plan Enabled Bifurcated Strategy- Oncology and Fibrosis 4Q 2017- IND filed 1Q 2018- FIH in NHV initiated 2Q 2018- POM in NHV 3Q 2018- Tolerability in NHV 4Q 2018- P1b in Ovarian Cancer initiated 2Q 2019- POM in Ovarian Cancer 2Q 2019- Tolerability in Ovarian Cancer 3Q 2019- Early POC in Ovarian Cancer 3Q 2019- Expanded P1b Ovarian Cancer 4Q2019- Kidney fibrosis trial initiation 4Q2019/1Q2020- Renal cell carcinoma trial initiation Mid-2020- RP2D established from Ph1b Ovarian (after 15 and 20mg/kg doses) 2H-2020- P2/P3 Platinum-resistant ovarian cancer initiation 2020- Safety and early efficacy in kidney fibrosis Achieved MilestonesUpcoming Milestones FIH=first in human; IND= investigational new drug application; POM=proof of mechanism; POC=proof of concept; R2PD=recommended P2 dose

Slide 29

Financials and Capitalization NASDAQ: ARAV; Shares Outstanding*: 11.3M basic * As of September 30, 2019 Cash and cash equivalents*: $45M Cash and cash equivalents expected to enable the company to fund its operating plans through 2020 © 2019 Aravive, Inc.

Slide 30

AVB-500 Offers First- and Best-In-Class Opportunity in Oncology and Fibrosis Uniquely positioned in competitive landscape Robust pipeline addressing significant drivers of mortality in oncology and fibrosis: metastasis and drug resistance © 2019 Aravive, Inc. AVB-500: high affinity decoy protein, a potent and selective drug targets GAS6/AXL signaling Validated pathway drives activation, migration and invasion of abnormal cells Suppresses GAS6 to undetectable levels in early clinical studies; prolonged target engagement Safety and tolerability profile to date support use as combination and/or maintenance therapy Compelling early efficacy signal in platinum-resistant ovarian cancer No adverse events that limit dosing High AVB-500 levels predictive of anti-tumor activity; statistically significantly association with PFS (p=0.006568) In first 31 patients, median PFS for patients with high drug levels was 4-fold greater than those with low drug levels (p=0.0016). Expanded P1b portion to validate efficacy signal, evaluate higher doses and explore the most efficient regulatory path to approval Additional programs advancing into the clinic in high need indications Kidney fibrosis (IgA nephropathy) trial initiation anticipated in 4Q 2019 Renal cell carcinoma trial initiation anticipated in 4Q 2019-1Q 2020

Slide 31

Halting Disease Progression in its Tracks © 2019 Aravive, Inc. Thank You