AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) announced that additional biomarker analyses from the BATON- (Biomarker Assessment of Tivozanib in ONcology) CRC study will be presented at theEuropean Society for Medical Oncology (ESMO) 17th World Congress on Gastrointestinal Cancer, taking place July 1-4 in Barcelona, Spain. Tivozanib is an oral, potent, selective inhibitor of vascular endothelial growth factor (VEGF) with a long half-life and activity against all three VEGF receptors.

The BATON-CRC study is a randomized Phase 2 clinical trial of modified FOLFOX6 combined with tivozanib or bevacizumab in metastatic colorectal cancer (CRC). The presentation, titled “Neuropilin 1 (NRP1) may be Prognostic and Identify a Subgroup of Patients with Metastatic Colorectal Cancer (mCRC) who Benefit from Tivozanib + mFOLFOX6 compared to Bevacizumab + mFOLFOX6,” will be presented in an oral session titled “Session X: Presentation of Selected Abstracts: Colorectal Cancer,” which begins at8:00 a.m. CEST on Friday, July 3, 2015, and in a poster session that begins at 10:25 a.m. CEST that day.

As previously announced, the additional analyses, which produced similar results to those presented at the American Association for Cancer Research Tumor Angiogenesis and Vascular Normalization Conference in March 2015 used a different NRP1 assay and were conducted as part of the Company’s ongoing effort to develop an NRP1 assay suitable for further clinical study and eventual commercialization. Al B. Benson III, MD, FACP, Professor of Medicine at the Feinberg School of Medicine, Associate Director for Clinical Investigations at the Robert H. Lurie Comprehensive Cancer Center of Northwestern University, and principal investigator of the BATON-CRC study, will present the updated findings. (Original Source)

Shares of AVEO Pharmaceuticals closed yesterday at $1.66 . AVEO has a 1-year high of $3.50 and a 1-year low of $0.61. The stock’s 50-day moving average is $1.92 and its 200-day moving average is $1.39.

On the ratings front, RBC analyst Adnan Butt upgraded AVEO to Hold, with a price target of $3, in a report issued on March 9. The current price target represents a potential upside of 80.7% from where the stock is currently trading.

According to TipRanks.com, Butt has a total average return of -1.6%, a 48.1% success rate, and is ranked #2990 out of 3684 analysts.

AVEO Pharmaceuticals Inc is a biopharmaceutical company. It is involved in discovering, developing and commercializing novel cancer therapeutics.