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Arvinas Reports FDA Approval of Veppanu for Advanced Breast Cancer
Arvinas (ARVN) and partner Pfizer (PFE) said Friday the US Food and Drug Administration has approved Veppanu for the treatment of adults with advanced breast cancer.The indication is for estrogen receptor-positive/human epidermal growth factor receptor 2-negative, estrogen receptor 1-mutated advanced or metastatic breast cancer, with disease progression following at least one line of endocrine therapy, they said.This is the first time the regulator has approved a PROteolysis TArgeting Chimera, a form of heterobifunctional protein degrader therapy, according to the release.Shares of Arvinas were up over 7%, and Pfizer was down about 1% in afternoon trading.Price: $10.64, Change: $+0.74, Percent Change: +7.47%
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