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Aravive Up 8% After Reporting Positive Initial Results For AVB-500 In Clear Cell Renal Cancer

Aravive, Inc. (ARAV) shares are gaining more than 8 percent on Thursday morning trade after reporting positive initial reports from Phase 1b and Phase 1b/2 study of AVB-500 in combination with Cabozantinib in Clear Cell Renal Carcinoma.

The clinical-stage oncology company said it plans to expand the dosing of 15mg/kg of AVB-500 to an additional three patients to determine the potential of initiating the Phase 2 portion with this dose. The Phase 1b dose escalation study will enroll up to 18 patients in 15 mg/kg, 20 mg/kg and 25 mg/kg dosing to evaluate tolerability and pharmacokinetics.

Currently, shares are at $5.77, up 8.46 percent from the previous close of $5.32 on a volume of 19,104,845. The shares have traded in a range of $4.27-$14.94 on average volume of 155,259.

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