Arvinas, Inc. announced that it has jointly agreed with Pfizer Inc. to out-license the commercialization rights for vepdegestrant to a third party. This strategic decision aims to maximize the commercial potential of vepdegestrant, if approved, for ESR1-mutant, ER+/HER2- advanced or metastatic breast cancer and ensure its prompt availability to patients.
The company also announced additional cost optimization measures, which are expected to result in total annual savings of more than $100 million compared to fiscal year 2024. These new steps build upon the approximately $80 million in annual cost reductions announced on May 1, 2025, further streamlining operations and strengthening the financial profile.
In a move to support shareholder value creation, Arvinas's Board of Directors authorized a stock repurchase program of up to $100 million. The company reaffirmed its cash runway guidance, stating that current resources are expected to fund planned operating expenses and capital expenditure requirements into the second half of 2028.
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