Loading...
•
Dec 31, 2022
Arvinas Q4 2022 Earnings Report
Arvinas reported financial results for the fourth quarter and full year ended December 31, 2022.
Key Takeaways
Arvinas reported a net loss of $82.9 million for the quarter ended December 31, 2022, compared to a net loss of $52.9 million for the same period in 2021. Revenue for the quarter was $38.0 million, an increase from $28.7 million in the prior year. The company's cash, cash equivalents, restricted cash and marketable securities were $1,210.8 million as of December 31, 2022.
Initiated multiple trials with ARV-471, including a 2L+ Phase 3 trial for patients with metastatic breast cancer
Presented Phase 2 monotherapy expansion data from the VERITAC trial for the treatment of patients with metastatic or locally advanced ER+/HER2- breast cancer in a late-line setting
Gained alignment with FDA on an approach to the planned 1L Phase 3 trial with ARV-471 in combination with palbociclib to enable trial initiation in 2H 2023
Initiated a Phase 3 monotherapy trial with ARV-471 in ER+/HER2- metastatic breast cancer, marking the first registrational study.
Forward Guidance
Arvinas anticipates initiating a Phase 3 trial with ARV-471 + palbociclib as a first-line treatment in patients with ER+/HER2- locally advanced or metastatic breast cancer in the second half of 2023. They also plan to complete enrollment in the Phase 1b combination study with bavdegalutamide plus abiraterone in the second half of 2023.
Positive Outlook
- Initiate a Phase 3 trial with ARV-471 + palbociclib as a first-line treatment in patients with ER+/HER2- locally advanced or metastatic breast cancer (2H 2023)
- Initiate additional arms of the Phase 1b combination umbrella trial (TACTIVE-U) with other targeted therapies (2023)
- Provide an update with preliminary data from the Phase 1b combination trial with palbociclib (1H 2023)
- Submit and present data from the Phase 1b combination trial with palbociclib at medical congress (2H 2023)
- Initiate a global Phase 3 trial with confirmed bavdegalutamide dose in metastatic castration-resistant prostate cancer (mCRPC) for patients with AR T878/H875 tumor mutations (2H 2023)
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...