Aravive Announces $10.0 Million Investment By Eshelman Ventures, Llc And Appointment Of Dr. Eshelman As Executive Chairman Of The Aravive Board Of Directors

Aravive, Inc. (Nasdaq: ARAV), a late clinical-stage oncology company developing targeted therapeutics to treat metastatic disease today announced that the company’s Chairman, Fred Eshelman, Pharm.D., through Eshelman Ventures, LLC, agreed to purchase a pre-funded warrant to purchase 4,545,455 shares of the company’s common stock at a price of $2.20 per share, which was the consolidated closing bid price of the company’s common stock on The Nasdaq Global Select Market on December 31, 2021. The investment strengthens the company’s balance sheet by approximately $10.0 million, enhancing the company’s financial flexibility and liquidity ahead of multiple anticipated clinical milestones throughout 2022 for each of the company’s clinical programs. The investment is expected to close on January 5, 2022.