AVEO Oncology Announces Strategic Restructuring
AVEO Oncology (NASDAQ: AVEO) today announced a strategic restructuring
designed to optimize resources and reduce expenses to ensure AVEO is
well positioned for a successful launch of tivozanib in renal cell
carcinoma (RCC) and continued development in other cancer types, while
maintaining a focused research engine. In addition, AVEO reported
consolidated financial results for the third quarter of 2012, updated
its financial guidance and summarized recent developments.
“AVEO's primary focus is on the approval and successful
commercialization of tivozanib, which will drive the near term future of
the company and will be our greatest opportunity for value creation,”
said Tuan Ha-Ngoc, president and chief executive officer of AVEO.
“AVEO's drug discovery, translational research and Human