Arvinas reported Q3 2023 financial results with revenues of $34.6 million and a net loss of $64.0 million. The company is advancing its PROTAC protein degraders, including vepdegestrant and ARV-766, through clinical trials and expects to file IND applications for new compounds by year-end 2023. Cash, cash equivalents, and marketable securities totaled $1,004.0 million, sufficient to fund operations into 2026.
Enrollment continues in the 2L Phase 3 VERITAC-2 trial and the study lead-in for the VERITAC-3 1L Phase 3 trial with vepdegestrant.
Top-line data readout for VERITAC-2 remains on track for 2H 2024.
Bavdegalutamide mCRPC data presented at ESMO showed a median rPFS of 11.1 months in patients with AR 878/875 tumor mutations.
The company prioritized the initiation of a Phase 3 trial with ARV-766 in mCRPC based on new interim data.
Arvinas anticipates several milestones including presenting updated data for vepdegestrant, continuing enrollment in clinical trials, initiating a Phase 1b/2 trial with vepdegestrant plus Pfizer’s CDK4 inhibitor, and submitting IND/CTA applications for BCL6 and LRRK2 PROTAC protein degraders.
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