Aveo takes a big step forward as comeback plan delivers EU OK for tivo
Four years after Aveo Oncology $AVEO was handed a humiliating rejection for its cancer drug tivozanib, the Cambridge, MA-based biotech has turned an important corner in its drive to rehabilitate itself and turn the company around. The EU has sanctioned its lead drug tivozanib for marketing, a decision which triggers a $4 million bonus from its European partner with a big step toward another $12 million laid out for reimbursement and regulatory milestones.
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