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Stock impact report

Arvinas gets positive breast cancer data, but finds differentiation a hard sell [Yahoo! Finance]

Arvinas, Inc. (ARVN) 
Last arvinas, inc. earnings: 11/4 05:00 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Dive Brief: Arvinas lost more than half of its market value Tuesday morning after the Connecticut-based biotechnology company and partner Pfizer disclosed anticipated results from a late-stage clinical trial of a new kind of breast cancer drug they're developing. Arvinas and Pfizer described the findings as a “significant achievement,” citing the pronounced benefit they observed in a subgroup of patients with a specific breast cancer mutation. But analysts had hoped the drug, called vepdegestrant, might work more broadly. The companies only released summary data from the study, indicating that results “exceeded the pre-specified target” for showing a benefit on progression-free survival versus the trial's comparator drug, fulvestrant, in that subgroup of patients. The difference between the groups overall was not significant. Dive Insight: Fulvestrant has been on the market for more than two decades, during which it's become a standard treatment for metastatic breast cancer Show less Read more
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