Arvinas Inc. and Pfizer Inc. will out-license the commercialization rights to vepdegestrant to a third party, with a focus on maximizing its potential for breast cancer patients. The FDA has a PDUFA action date of June 5, 2026, for vepdegestrant as a treatment for advanced breast cancer. Arvinas will reduce its workforce by 15% and has authorized a stock repurchase program of up to $100 million. The company is also focusing on its pipeline of PROTAC degraders for oncology and neuroscience, with three investigational drugs in Phase 1 trials. These changes aim to generate over $100 million in annual savings compared to fiscal year 2024.

Read more at Nasdaq: Arvinas To Cut Jobs, Out-License Vepdegestrant, And Launch $100 Mln Stock Buyback Plan