Arvinas and Pfizer to out-license vepdegestrant commercialization rights

Arvinas Inc. (NASDAQ: ARVN) and Pfizer Inc. (NYSE: PFE) announced they will jointly seek a third party to acquire commercialization rights for vepdegestrant, an investigational oral cancer treatment currently under FDA review.

The companies stated they believe finding a commercial partner represents the optimal path to maximize vepdegestrant's commercial potential for patients with ESR1-mutant, ER+/HER2- advanced or metastatic breast cancer. Vepdegestrant has a FDA action date of June 5, 2026.

Following the decision to out-license vepdegestrant, Arvinas implemented additional cost reduction measures expected to generate annual savings exceeding $100 million compared to fiscal year 2024. The company will reduce its workforce by 15%, with most cuts affecting vepdegestrant commercialization roles.

These actions build upon approximately $80 million in annual cost savings from measures announced in May 2025. Arvinas will limit additional vepdegestrant expenditures to activities required for commercialization readiness and the out-licensing process.

The company's board authorized a stock repurchase program of up to $100 million. The timing and amount of repurchases will depend on various factors including capital needs, investment opportunities, stock price and market conditions.

Arvinas reaffirmed its cash runway guidance through the second half of 2028. The company continues developing three investigational treatments in Phase 1 trials: ARV-102 for neurological disorders, ARV-393 for lymphoma, and ARV-806 for solid tumors.

Under the original 2021 collaboration agreement, Arvinas and Pfizer share worldwide development costs, commercialization expenses and profits for vepdegestrant, including any arising from the planned out-licensing arrangement.

You May Also Be Interested In

• NSA sets July 22 closing for Public Storage acquisition
• Enova adds Maria Veltre to board as two directors retire
• Axon adds two independent directors to its board