Stock Alert: Arvinas Soars 95%

Shares of clinical-stage biopharmaceutical company Arvinas, Inc. (ARVN) are surging more than 95% Monday morning after the company announced positive interim clinical data of its PROTAC protein degraders ARV-471 and ARV-110.

"Based on data to date, we believe ARV-471 is the most promising ER-targeting therapy in the clinic, showing early signs of efficacy, a favorable tolerability profile, and better ER degradation than that previously reported for fulvestrant, the current standard of care," said Ron Peck, Ph.D., Chief Medical Officer at Arvinas.

For ARV-471, interim Phase 1 data showed potential for best-in-class safety and tolerability, estrogen receptor (ER) degradation superior to that previously reported for the current standard of care agent (fulvestrant), and robust efficacy signals in heavily pretreated patients with locally advanced or metastatic ER positive / HER2 negative (ER+/HER2-) breast cancer.

For ARV-110, the ongoing dose escalation portion of the Phase 1/2 trial in men with metastatic castration-resistant prostate cancer (mCRPC) has provided additional evidence of anti-tumor activity and patient benefit, including a prostate specific antigen reduction of more than 50% (PSA50) rate of 40% in a molecularly defined patient population. A phase II dose expansion study has been initiated.

A Phase 1b combination trial of ARV-471 and Pfizer's Ibrance (palbociclib) is expected to begin in December 2020, and a Phase 2 expansion cohort for ARV-471 is scheduled to begin in the first half of 2021.

ARVN touched a new high of $75 this morning.

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