I’ve thought more about the H1 2027 efficacy timing for
#AVCT.
Avacta never guided to an efficacy readout in 2026. The milestone was always “initial clinical data” in H2 2026, which they’ve now delivered with safety, PK and clinical proof of mechanism.
What’s new is that they’ve now clearly signposted “first efficacy data” in H1 2027.
That's a big signal to put out early into DL3. But makes sense given what they've told us so far IMO.
This is still Phase 1A dose escalation, yet efficacy has now become a specifically defined near term clinical milestone rather than just an exploratory endpoint.
The CMO has said they expect to reach DL5/6. That potentially puts a much more mature dataset into early next year.