8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 10, 2017

AVEO Pharmaceuticals, Inc.

(Exact Name of Registrant as Specified in Charter)

Delaware	001-34655	04-3581650
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
One Broadway, 14th Floor Cambridge, Massachusetts		02142
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (617) 588-1960

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:

This Current Report on Form 8-K and the exhibit attached hereto contain forward-looking statements of AVEO Pharmaceuticals, Inc. (“AVEO”, the “Company”, or “we”) that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this Current Report on Form 8-K and the attached exhibit are forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “contemplate,” “strategy,” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among others, statements about: AVEO’s plans to leverage biomarkers and pursue strategic partnerships for certain of its assets; AVEO’s goals, business strategy and potential achievement of milestones; the timing, design and results of preclinical and clinical trials; the timing and outcome of meetings with and applications to regulatory authorities by AVEO and its partners; the competitive landscape and potential markets for AVEO’s therapeutic candidates; and AVEO’s estimates for its cash runway.

Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements AVEO makes due to a number of important factors, including substantial risks and uncertainties relating to: AVEO’s ability to successfully implement its strategic plans; AVEO’s ability to successfully develop, test and gain regulatory approval of its product candidates, including its companion diagnostics; the potential safety, efficacy, tolerability and other benefits of tivozanib as a single agent or in combination with other therapies; developments, expenses and outcomes related to AVEO’s ongoing shareholder litigation; AVEO’s ability to obtain necessary financing required to perform its clinical trials and achieve its other goals; AVEO’s ability to establish and maintain strategic partnerships; AVEO’s ability to obtain and maintain intellectual property rights; competition; AVEO’s dependence on its strategic partners and other third parties; adverse general economic and industry conditions; and those risk factors discussed in the “Risk Factors” and elsewhere in AVEO’s Annual Report on Form 10-K for the year ended December 31, 2016 and other periodic filings AVEO makes with the SEC. All forward-looking statements contained in this Current Report on Form 8-K and the attached exhibit speak only as of the date of this Current Report, and AVEO undertakes no obligation to update any of these statements, except as required by law. You should, therefore, not rely on these forward-looking statements as representing the Company’s views as of any date subsequent to the date of this Current Report.

Item 7.01. Regulation FD.

From time to time, we conduct meetings with third parties in which we utilize a corporate slide presentation. A copy of our current corporate slide presentation is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The presentation includes clinical, development, collaboration and financial updates. We may amend or update this information at any time and from time to time through another Current Report on Form 8-K, a later company filing, or other means.

The information in this Item 7.01 and Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) The exhibit to this Current Report on Form 8-K is listed in the Exhibit Index attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	AVEO Pharmaceuticals, Inc.
Date: August 10, 2017
	By:	/s/ Michael Bailey
		Michael Bailey
		President and Chief Executive Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	Corporate Presentation Slide Deck dated August 2017

EX-99.1

AVEO Overview August 2017 Exhibit 99.1

Forward-Looking Statements This presentation contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this presentation are forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “contemplate,” “strategy,” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among others, statements about: AVEO’s plans to leverage biomarkers and pursue strategic partnerships for certain of its assets; AVEO’s goals and business strategy; the timing, design and results of preclinical and clinical trials; the timing and outcome of meetings with and applications to regulatory authorities by AVEO and its partners; the competitive landscape for AVEO’s therapeutic candidates and AVEO’s estimates for its cash runway. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements AVEO makes due to a number of important factors, including substantial risks and uncertainties relating to: AVEO’s ability to successfully implement its strategic plans; AVEO’s ability to successfully develop, test and gain regulatory approval of its product candidates, including its companion diagnostics; the potential safety, efficacy, tolerability and other benefits of tivozanib as a single agent or in combination with other therapies; developments, expenses and outcomes related to AVEO’s ongoing shareholder litigation; AVEO’s ability to obtain necessary financing required to perform its clinical trials and achieve its other goals; AVEO’s ability to establish and maintain strategic partnerships; AVEO’s ability to obtain and maintain intellectual property rights; competition; AVEO’s dependence on its strategic partners and other third parties; adverse general economic and industry conditions; and those risk factors discussed in the “Risk Factors” and elsewhere in AVEO’s Annual Report on Form 10-K for the year ended December 31, 2016, and other periodic filings AVEO makes with the SEC.  All forward-looking statements contained in this presentation speak only as of the date of this presentation, and AVEO undertakes no obligation to update any of these statements, except as required by law.

Opportunities for Value Creation Preclinical Phase 1 Phase 2 Phase 3 Regulatory Filing Partner TIVO-1 (1st Line RCC) SCCHN (Investigator) Esophageal Cancer TIVO-3 (U.S. Phase 3 Registration Study in RCC) TiNivo (+Opdivo® RCC) AML (Investigator) Oncology CHMP Recommendation for Approval 6/23/17 Non-Oncology Cachexia PAH Seeking Partnership

Large and Growing RCC Opportunity ~$1.7 Billion* ~$1.4 Billion* * Total RCC market includes all stages of disease and treatment options. Source: GlobalData Forecast 2023 Market opportunity expected to grow to >$3 billion in Europe and North America* Market needs: Uncompromised PFS combined with improved tolerability in first line Demonstrated safety and activity in highly refractory patients Tolerable combinations with immunotherapy to improve efficacy

Tivozanib Three Pillar Strategy in RCC MAA Review TIVO-3 : Tivo v. Sorafenib US Regulatory Decision CHMP Recommendation for Approval NDA Review 2016 2017 2018 2019 2020 Ph 2 Expansion Potential NDA Filing 2H 2018 PFS Data/OS Trend Estimated 1Q 2018 Ph 1 Data Ph 1 Tivo + Opdivo® EU Regulatory Decision Potential Ph 2 or 3 Randomized Study

Tivozanib: VEGFR 1, 2 and 3 Tyrosine Kinase Inhibitor Potent, selective inhibitor of VEGFRs 1, 2 and 3 with a long half-life that is designed to optimize blockade while minimizing off-target toxicities1,2 1. Nakamura K et al. Cancer Res 2006;66:9134–9142. 2. Eskens FA et al. Clin Cancer Res 2011;17:7156–7163.

1 Motzer, et. al. ESMO 2012 (COMPARZ): 1st Line study, sutent vs. votrient. 2 Hutson, et. al. Lancet Oncol 2013; 14: 1245; 1st line Phase 3 study vs sorafenib. 3 Motzer, et. al. JCO Oct 2013; 1st Line TIVO-1 Phase 3 study, tivozanib vs. sorafenib. 4 Choueri, et. al. ESMO 2016. Poor and Intermediate risk patients only. TIVO-1: Unsurpassed PFS, Unique Safety Profile in 1st Line RCC Relative to Other TKI Pivotal Studies Tivozanib N=260 Sorafenib N=257 Median (95% CI) 11.9 mo (9.3–14.7 mo) 9.1 mo (7.3–9.5 mo) Hazard ratio: 0.797 (95% CI: 0.639, 0.993) p-value = 0.042 First H2H RCC pivotal to meet primary PFS endpoint of superiority vs VEGF TKI

Tivozanib is Well Tolerated, and Has the Potential to Become the Preferred TKI for PD-1 Combination Therapy Single Agent Toxicity All grade (Gr 3/4) Sutent1 (n=548) Votrient1 (n=554) Inlyta5 (n=189) Nexavar3 (n=257) Lenvima4 (n=52) Cometriq2 (n=331) Tivozanib3 (n=259) Hypertension 30% (15%) 40% (4%) 49% (13%) 34% (17%) 48% (17%) 37% (15%) 44% (27%) Fatigue 63% (17%) 55% (10%) 33% (5%) 16% (4%) 50% (8%) 56% (9%) 19% (5%) Hand-Foot Syndrome 50% (11%) 29% (6%) 26% (7%) 54% (17%) 15% (0%) 42% (8%) 14% (2%) Diarrhea 57% (7%) 63% (9%) 50% (9%) 32% (6%) 72% (12%) 74% (11%) 23% (2%) 1 Motzer, et. al. ESMO 2012 (COMPARZ): 1st Line Study, sutent vs. votrient 2 Choueri, et. al. NEJM 2015: 2nd Line Study, cabozantinib vs. everolimus 3 Motzer, et. al. JCO, 2012.47.4940: 1st Line TIVO-1 Study, tivozanib vs. sorafenib 4 Motzer et al. Lancet Oncol 2015; 16: 1473–82 5 Hutson et.al. Lancet Oncol 2013; 14: 1245; 1st Line Study vs. sorafenib

Top Three Toxicities Relevant to Patients with Advanced RCC* *Wong M, et al. J Med Econ. 2012;28:1-10. Additional months of PFS benefit patients require to accept adverse events Nexavar >50% Sutent =50% Tivozanib <15% Sutent >60% Cometriq>55% Votrient=55% Tivozanib <20% Cometriq >70% Votrient >60% Sutent >50% Inlyta =50% Tivozanib <25% Additional Months of Progression-Free-Survival Benefit

Favorable Tolerability vs. Approved TKIs in RCC Incidence (%) Incidence (%) Tivozanib1 Sorafenib Pazopanib3 Axitinib2 TIVO-11 AXIS2 Sunitinib4 Dose Reductions Dose Interruptions Tivozanib1 Sorafenib Pazopanib3 Axitinib2 TIVO-11 AXIS2 Sunitinib4 Cabozantinib5 Lenvatinib+Everolimus6 1. Motzer et.al. JCO 10.2013, Vol 31 No 30. 2. INLYTA USPI v.01.2012. 3. Votrient USPI revised 01.2012. 4. Sutent USPI revised 05.2011. 5. Cabozantinib METEOR Trial NEJM 9/26/15. 6. Motzer et.al Lancet v16 Nov 2015.

Tivozanib High Selectivity1 May Be a Significant Advantage ASCO 2017 – GU Oral Discussion2 Confidential Nakamura K et al. Cancer Res 2006;66:9134–9142. Courtesy of Dr. H. Hammers

Tivozanib Global Registration Strategy

EUSA Pharma Oncology Licensing Agreement: Optimizes Post-Approval Economics CHMP Recommendation for Approval June 23, 2017 Recommendation based on TIVO-1 first line RCC Phase 3 EC approval decision ~67 days post-recommendation EC provides marketing authorization in 28 EU cos., Norway, Iceland and Liechtenstein $394M in Potential Future Milestones + Tiered royalties from low double digits to mid twenties* EC marketing approval triggers $4M R&D reimbursement payment from EUSA* $2M milestone per reimbursement approval in each EU5 country (two potentially in 2H17)* $2M for approval in 3 of 5 defined countries ex-EU* Milestone and royalty payments subject to the successful development or commercialization of the product Europe Specialty pharmaceutical company (Jazz Spinout) with commercial operations in the US and Europe, distribution network in 40 countries * Royalty to KHK: All non-R&D EU/ROW payments received by AVEO subject to 30% sublicense revenue obligation to Kyowa Hakko Kirin 30%

Source: EU5 data from Decision Resources RCC Report Feb 2017. EU data obtained by 50% bulking of EU5 data 1938 7827 13914 19325 19355 7839 13937 1940 19676 9596 15051 2903 56% 56% 72% 72% 25% 25% 64% 76% 30% 1st Line RCC Market Offers Significant Potential Commercial Opportunity for Tivozanib in Europe

TIVO-3 + TIVO-1: Designed to Support 1st and 3rd Line Indications in North America N = ~322 F Recurrent/metastatic RCC Failed at least two prior regimens including VEGFR-TKI (not sorafenib) ECOG PS 0 or 1 RANDOMIZE 1:1 tivozanib sorafenib 1O: PFS 2O: OS, ORR, DoR, Safety and Tolerability for ITT Provides potential unique 3rd line dataset of patients with prior PD-1 exposure Enrollment target reached June 2017 (2+ months ahead of schedule) Events for pre-planned interim futility analysis reached August 2017, outcome: 1-2 months On track for topline data 1Q 2018 Phase 3, Randomized, Controlled, Multi-Center, Open-Label Study to Compare Tivozanib to Sorafenib in Subjects With Refractory Advanced Renal Cell Carcinoma

Tivozanib Efficacy in VEGF TKI Refractory Setting * n= 389; investigator assessed PFS; independent PFS = 4.8 mo vs. 3.4 mo, HR = 0.741 (p=0.011) **investigator assessed PFS ^cabozantinib USPI 1. Motzer et al Lancet Oncol 2013; 14: 552–62 2. Motzer et al Lancet Oncol 2014 3. Hutson et al ASCO 2015 4. Cabozantinib METEOR Trial NEJM 9/26/15 Study AXIS Phase 3, axitinib vs sorafenib (1:1)1 METEOR study Phase 3, cabozantinib vs everolimus (1:1)4 TIVO-1 Phase 3, subset crossing over to tivozanib following sorafenib progression3 Dovitinib study Phase 3, dovitinib vs sorafenib (1:1)2 Setting 2nd line RCC 2nd line RCC 2nd line RCC 3rd line RCC Study Size n=361 (axitinib) n=362 (sorafenib) (54% sunitinib refract.) n=658 n=161 (tivozanib) n=280 (dovitinib) n=284 in sorafenib arm (TKI & mTOR refractory) PFS sunitinib refractory pts 6.5 mo (axitinib)* 4.5 mo (sorafenib)* HR = 0.636, p<0.0002* 7.4 mo (cabozantinib)** 5.3 mo (everolimus)** sorafenib refract. pts 11.0 mo** (tivozanib) TKI & mTOR refractory 3.9 mo (dovitinib)** vs. 3.9 mo (sorafenib)** HR 1.00, p=NS Prior Sutent (n=153) 9.1 mo (cabozantinib) 3.7 mo (everolimus) OS sunitinib refract. pts 15.2 mo (axitinib) 16.5 mo (sorafenib) 21.4 mo^ sorafenib refract. pts 21.6 mo (tivozanib) TKI & mTOR refractory 11.1 mo (dovitinib) vs. 11.0 mo (sorafenib)

Source: Decision Resources RCC Report Feb 2017 1st Line and Expanding 3rd+ Line Markets Offer Significant Potential Commercial Opportunity for Tivozanib in North America New Therapeutic Launches Expanding Third+ Line to ~10K patients by 2020 NA Royalties to KHK: low- to mid-teens on net sales TIVO-3: Exclusively third+ line dataset TIVO-3: Only pivotal dataset in RCC stratified by prior PD-1 exposure

Safety Matters: PD-1 Combination Setting

Rationale for Combining VEGF + PD-(L)1 Inhibitors Gunturi, McDermott Current Treatment Options in Oncology 2014 Plimack International Kidney Cancer Symposium 2014

Tivozanib has Immunomodulatory Properties: Regulatory T Cell Reduction May Enhance PD-1 Activity Pawlowski N et al. AACR 2013. Poster 3971. Regulatory T cells suppress or downregulate induction and proliferation of effector T cells (e.g. CD4 and CD8) P=0.034

Early Data for the Combination of PD-1 +VEGF TKIs/CTLA4: Demonstrated Promising Responses with Challenging Toxicity 1 Atkins et. al., ESMO 2016 2 Larkin et. al., ASCO 2017, ~ 1 treatment related death 3 Atkins at.al., ASCO 2017 4 Apolo et.al, ASCO 2017 5 Taylor et.al, ESMO 2016 6 Hammers et. al., ESMO 2016 Safety N (%) Axitinib + Pembro1 Total N=52 Axitinib + Avelumab2 Total N=55 Pembro + Lenvatinib5 Total N=8 Ipi + Nivo6 Total N=94 Atezo + Bev3 Total N=101 Cabo + Nivo4 Total N=4 Grade3/4 AEs 15 (29) 40 (73)~ 2 (25) 50 (50) 64 (63) 25 (83) Efficacy N (%) Axitinib + Pembro1 Total N=52 Axitinib + Avelumab2 Total N=55 Pembro + Lenvatinib5 Total N=8 Ipi + Nivo6 Total N=94 Atezo + Bev3 Total N=101 (ITT) Cabo + Nivo4 Total N=4 CR 2 (4) 3 (5.5) 0 (0) 5 (5) 7 (7) 0 (0) PR 33 (63) 29 (52.7) 4 (50) 31 (33) 25 (25) 1 (25) SD 11 (21) 11 (20) 4 (50) 36 (38) NR NR ORR 35 (67) 32 (58.2) 4 (50) 36 (38) 32 (32) 1 (25)

Significant reductions of TKI dose to manage AEs have been recommended to safely combine some TKIs with PD-1s in RCC CaboNivo1: Cabo recommended dose reduction from 60 to 40mg Lenvatinib + Pembro2: Lenv recommended dose reduction 24 to 20mg Reduced Dose May Adversely Impact Efficacy 1 Apolo et. al., ESMO 2016 2 Taylor et. al., ESMO 2016 JCO Volume: 30, Issue: 13, Pages: 1484-1491, May 2012 ESMO 2014 Congress, September 26 -30 2014, Madrid, Spain CASE STUDY (Breast Cancer): Ph 2 SOLTI study3 Ph 3 RESILIENCE study4 Dose Sorafenib 800mg Sorafenib 600mg PFS 6.4 vs 4.1 mos 5.5 vs 5.4 mos Power HR 0.58 P=0.0006 NS G3/4 AEs 44% HFS (S+C)

Phase 1/2 TiNivo Study Tivozanib (1.0 mg/day) QD/21 days + nivolumab 240 mg Q 2 weeks N = 6 ECOG PS ≤ 1 and life expectancy ≥ 3 months Tivozanib (1.5 mg/day) QD/21 days + nivolumab 240 mg Q 2 weeks Further evaluate the antineoplastic activity and safety Phase 1* Phase 2 1.5 mg/day N = ~20 A Phase 1/2, Open-Label, Multi-Center Study of Tivozanib in Combination with Nivolumab (Opdivo®) in Subjects with Metastatic Renal Cell Carcinoma (TINIVO) 1o safety, tolerability, and maximum tolerated dose 2o antineoplastic activity *Enrollment completed Promising Activity with no DLTs Observed

High Potential Value Pipeline Programs

Ficlatuzumab (HGF inhibitor MAb) A Favorable Profile to In-Class Antibodies High affinity (pM) and slow off-rate for HGF High potency (nM) inhibiting all biological activities of HGF, including autocrine/paracrine activation loops In vivo preclinical efficacy superior to in-class antibodies Patent Term: 2027-28 (composition of matter) with potential extension to 2032-2033* 50/50 cost & revenue sharing with Biodesix; seeking commercial partner Head and Neck Activation of cMet overcomes EGFR inhibition resistance in preclinical models while high serum HGF levels are associated with resistance in patients.1 P1/P1b studies evaluated ficlatuzumab/cetuximab combination in cetuximab refractory r/m HNSCC patients Clinical benefit rate of 67% (17% PR, 50% SD) observed, mPFS and mOS of 6 and 8.2 months2 mPFS for cetuximab monotherapy in the naïve setting is 2.2 mo.; mPFS for nivolumab or single-agent chemotherapy in the platinum-refractory setting is 2 mo. AML Elevated serum HGF level is an adverse prognostic factor in AML3 P1/P1b studies evaluated ficlatuzumab combined with cytarabine in r/r AML patients refractory to 7+3 or relapsed within 1 year. Of the 8 evaluable patients, 4 achieved a CR (50%)4 Historical Phase 3 show a CR rate of 32% RR at a dose of 3g/m2 twice daily for 12 doses.5 1 Clin Cancer Res. 2009;15: 3740-3750. 2 Bauman et.al. ASCO 2017, 3 Verstovsek, et al. 2001;Kim, et al. 2005 4 Adreaditis et.al. ASCO 2017, 5 Karanes et al. A phase III comparison of high dose ARAC (HIDAC) versus HIDAC plus mitoxantrone in the treatment of first relapsed or refractory acute myeloid leukemia SWOG Study. Leuk Res 1999;23:787–94.  Phase 2 IST in 2H 2017

Advancing Robust Pipeline Through Partnership Milestone and royalty payments subject to the successful development and/or commercialization of the product *Subject to milestone payment & royalty payment obligations to SVH AV-380 (GDF-15 inhibitor MAb) Indication: cachexia Incidence: 5M+ in US alone $327M in upfront & potential milestones* Tiered royalties from high single digits to a low double-digit, for worldwide rights* AV-203 (ERBB3 inhibitor MAb) Indication: squamous cell esophageal cancer CANbridge to fund mfg and clinical development through Phase 2a POC study $134M in upfront & potential milestones Tiered royalties from a low double-digit to low-teens, for ex-NA rights

AV-353: 1st-in-class opportunity to address major unmet need in pulmonary arterial hypertension (PAH) as potential to be first drug with disease modifying properties Binding specificity to Notch 3 reduces risks of pan-Notch toxicities that have hampered competitors Large Market Opportunity 2014 sales of $3.45B à 2024 sales of $4.75B¹ Significant development opportunity in additional oncology indications AV-353 in Pulmonary Arterial Hypertension Pathophysiology of PAH AVEO owns worldwide rights to the AV-353 platform and is actively seeking partners to help realize the full potential of the asset ¹Global Data 2016 PAH Opportunity Analyzer & Decision Resources 2012 PAH Report

Financials and Portfolio Summary

Financial Highlights $40.1M in cash and investments as of 2Q 2017 Cash on hand would fund planned operations into 4Q 2018* beyond TIVO-3 readout which is expected 1Q 2018 Potential near term milestones: EC marketing approval triggers $4M R&D reimbursement payment from EUSA $2M milestone per reimbursement approval in each EU5 country $2M for approval in 3 of 5 defined countries ex-EU Tiered low double-digit royalties on EU Fotivda (tivozanib) net sales stepping up to mid-twenties ~$10M in additional non tivozanib potential milestone payments through 2018 Streamlined operations with a headcount of ~20 Experienced leadership team * Guidance assumes no receipt of milestone payments from our partners or related payment of potential licensing milestones to third parties, no additional funding from new partnership agreements, no additional equity financings, no debt financings and no further sales of equity under our At-the-Market Sales Agreement with FBR. This estimate also assumes no acceleration in repayment of the term loan by Hercules in the event of non-compliance with the $10.0 million financial covenant.

Potential Corporate Milestones 2017 2018 Tivozanib CHMP recommendation for approval TIVO-3 PFS data/OS trend (1Q18) Development milestones for AV-380 Manufacturing transfer (2017) and re-initiation of AV-203 clinical dev. (2018) Phase 1 complete – data presentation in 2H 2017 TIVO-3 enrollment completion EC regulatory decision (6/23/17 +~67 days) Potential EU5 reimbursement decisions (first two expected 2H17) Initiate Phase 2 – data presentation in 1H 2018 Pre-planned futility analysis (events reached August 2017, outcome: 1-2 months)

AVEO Overview August 2017