Acrivon Therapeutics Inc 2025年度报告

Table of Contents PART I Item 1.Business4Item 1A.Risk Factors32Item 1B.Unresolved Staff Comments79Item 1C.Cybersecurity79Item 2.Properties80Item 3.Legal Proceedings80Item 4.Mine Safety Disclosures80 PART II Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities81Item 6.Reserved81Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations82Item 7A.Quantitative and Qualitative Disclosures About Market Risk94Item 8.Financial Statements and Supplementary Data94Item 9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure94Item 9A.Controls and Procedures94Item 9B.Other Information94Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections95 PART III Item 10.Directors, Executive Officers and Corporate Governance96Item 11.Executive Compensation96Item 12.Security Ownership of Certain Beneficial Owners and Management and Related StockholderMatters96Item 13.Certain Relationships and Related Transactions, and Director Independence96Item 14.Principal Accounting Fees and Services96 PART IVItem 15.Exhibits, Financial Statement Schedules97Item 16.Form 10-K Summary99 Special Note Regarding Forward-Looking Statements This Annual Report on Form 10-K, or the Annual Report, contains forward-looking statements within themeaning of the Private Securities Litigation Reform Act of 1995 about us and our industry that involve substantialrisks and uncertainties. All statements other than statements of historical facts contained in this Annual Report,including statements regarding our future results of operations or financial condition, business strategy and plansand objectives of management for future operations, are forward-looking statements. In some cases, you can identifyforward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,”“could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,”or “would” or the negative of these words or other similar terms or expressions. These forward-looking statementsinclude, but are not limited to, statements about the following: •the timing, progress and results of our preclinical studies and clinical trials of our drug candidates,including statements regarding the timing of initiation and completion of studies or trials and relatedpreparatory work, the period during which the results of the trials will become available and ourresearch and development programs;•the timing of any Investigational New Drug, or IND, submissions, initiation of clinical trials and timingof expected clinical results for ACR-368, ACR-2316, and our other future drug candidates;•the timing of any submission of filings for regulatory approval of, and our ability to obtain and maintainregulatory approvals for ACR-368, ACR-2316, and any other drug candidates for any indication;•our ability to identify patients with the cancers treated by our drug candidates, and to enroll patients intrials;•our expectations regarding the size of the patient populations, market acceptance and opportunity forand clinical utility of our drug candidates, if approved for commercial use;•our manufacturing capabilities and strategy, including the scalability and commercial viability of ourmanufacturing methods and processes;•our expectations regarding the scope of any approved indication for ACR-368, ACR-2316, or any otherdrug candidate;•our ability to successfully commercialize our drug candidates;•our ability to leverage our proprietary precision medicine platform, Acrivon Predictive PrecisionProteomics, or AP3, to identify and develop future drug candidates;•our estimates of our expenses, ongoing losses, future revenue, capital requirements and our need for orability to obtain additional funding before we can expect to generate any revenue from drug sales;•our ability to establish or maintain collaborations or strategic relationships;•our ability to identify, recruit and retain key personnel;•our reliance upon intellectual property licensed from third parties and our ability to obtain such licenseson commercially reasonable terms or at all;•our ability to protect and enforce our intellectual property position for our drug candidates, and thescope of such protection;•our financial performance;•our competitive position and the development of and projections relating to our competitors or ourindustry;•our estimates regarding future revenue, expenses and needs for additional financing;•the impact of laws and regulations; and•our expectations regarding the time during which we will be an emerging growth company under theJOBS Act. You should not rely on forward-looking statements as predictions of future events. We have based theforward-looking statements contained in this Annual Report primarily on our current expectations and projectionsabout future events and trends that we believe may affe