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Dec 31, 2021
Arvinas Q4 2021 Earnings Report
Arvinas reported financial results for the fourth quarter and full year ended December 31, 2021, and provided a corporate update.
Key Takeaways
Arvinas reported a net loss of $53.0 million for the quarter ended December 31, 2021, compared to a net loss of $41.5 million for the same period in 2020. Revenue for the quarter was $26.3 million, primarily driven by the ARV-471 Collaboration Agreement with Pfizer.
Presented ARV-471 Phase 1 dose escalation trial data at the San Antonio Breast Cancer Symposium, demonstrating an encouraging clinical benefit rate (CBR) in patients with locally advanced or metastatic ER+/HER2- breast cancer.
ARV-471 demonstrated antitumor activity in patients previously treated with cyclin-dependent kinase (CDK) 4/6 inhibitors, with a CBR of 40% in 47 evaluable patients.
Presented completed Phase 1 dose escalation and ongoing Phase 2 ARDENT expansion cohort data from bavdegalutamide in metastatic castration-resistant prostate cancer (mCRPC) at the American Society of Clinical Oncology Genitourinary Cancers Symposium (ASCO GU).
Initiate two Phase 3 trials in patients with metastatic breast cancer (as monotherapy and in combination).
Forward Guidance
Arvinas anticipates several milestones in 2022, including presenting data from ARV-471 and ARV-766 trials, initiating Phase 3 trials for ARV-471, and discussing the potential accelerated approval path for bavdegalutamide with the FDA.
Positive Outlook
- Present data from the VERITAC Phase 2 expansion trial (200 mg and 500 mg) (2H 2022)
- Present safety data from the Phase 1b combination trial with palbociclib (2H 2022)
- Initiate two Phase 3 trials in patients with metastatic breast cancer (as monotherapy and in combination)
- Initiate a Phase 1b combination trial with CDK inhibitors or other targeted therapies
- Initiate a Phase 1b combination trial with everolimus
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