Tivozanib, a cancer drug developed by AVEO Pharmaceuticals (NASDAQ:AVEO) and Astellas Pharma, is currently under FDA review. Shares of AVEO fell by 5% today after reporting its Q4 results and offering additional details from tivozanib's phase 3 clinical trial. This news has largely been expected by investors since last summer, and health care analyst Max Macaluso breaks down what happened today in this video.

Max Macaluso, Ph.D. has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.