Arvinas Nearly Doubles on Promising Cancer Drug Results
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Arvinas Nearly Doubles on Promising Cancer Drug Results
The test results show the Arvinas drugs' potential for treating breast and prostate cancer, Cantor said.
Arvinas (ARVN) - Get Report shares blasted off Monday as Cantor Fitzgerald offered bullish comments on the biopharmaceutical company after it reported positive news on its breast and prostate cancer treatments.
“For ARV-471, interim Phase 1 data show 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,” the company said in a statement.
The test results show ARV-471’s potential as the best-in-class potential estrogen receptor degrader, Cantor analyst Alethia Young wrote in a commentary cited by Bloomberg. The results are “very encouraging and demonstrated ARV-471 was active,” Young wrote. She has an overweight rating and a $66 price target on Arvinas.
“The efficacy signals include one Response Evaluation Criteria in Solid Tumors (RECIST) confirmed partial response (PR), two additional patients with unconfirmed PRs, and a clinical benefit rate (CBR) of 42%,” Young said.
Separately, Cantor said that “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.”
Further, “Arvinas has initiated a Phase 2 dose expansion to explore a two-pronged development strategy, including the potential for accelerated approval in molecularly defined, late-line patients, and broader development in less-heavily pretreated mCRPC patients with fewer androgen receptor (AR)-independent mechanisms of tumor resistance,” Young said.
Oppenheimer Upgrades Arvinas Inc. (ARVN) to Outperform, Following Clinical Update
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The test results show the Arvinas drugs' potential for treating breast and prostate cancer, Cantor said.
Arvinas (ARVN) - Get Report shares blasted off Monday as Cantor Fitzgerald offered bullish comments on the biopharmaceutical company after it reported positive news on its breast and prostate cancer treatments.
“For ARV-471, interim Phase 1 data show 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,” the company said in a statement.
The test results show ARV-471’s potential as the best-in-class potential estrogen receptor degrader, Cantor analyst Alethia Young wrote in a commentary cited by Bloomberg. The results are “very encouraging and demonstrated ARV-471 was active,” Young wrote. She has an overweight rating and a $66 price target on Arvinas.
“The efficacy signals include one Response Evaluation Criteria in Solid Tumors (RECIST) confirmed partial response (PR), two additional patients with unconfirmed PRs, and a clinical benefit rate (CBR) of 42%,” Young said.
Separately, Cantor said that “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.”
Further, “Arvinas has initiated a Phase 2 dose expansion to explore a two-pronged development strategy, including the potential for accelerated approval in molecularly defined, late-line patients, and broader development in less-heavily pretreated mCRPC patients with fewer androgen receptor (AR)-independent mechanisms of tumor resistance,” Young said.
Oppenheimer Upgrades Arvinas Inc. (ARVN) to Outperform, Following Clinical Update
thestreet.com/investing/arvinas-soars-promising-cancer-drug-results?puc=yahoo&cm_ven=YAHOO
streetinsider.com/Upgrades/Oppenheimer+Upgrades+Arvinas+Inc.+(ARVN)+to+Outperform,+Following+Clinical+Update/17716160.html?classic=1
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"Though these programs are at relatively early stages of clinical development (albeit with line of sight to potential approval paths), it's important that we point out that Arvinas is now two for two for clinical programs with promising (effectiveness) and safety data," Wedbush analyst Robert Driscoll said in a report to clients.Raising The Price Target On ARVN Stock
Driscoll raised his price target on ARVN stock to 93 from 62. He also has an outperform rating on shares.
Arvinas tested its cancer treatments in patients who previously worsened on other drugs.
The tumor in one breast cancer patient shrank by 51% after treatment. Two other patients partially responded, but Arvinas says it still needs to confirm those results.
The cancer treatment was well tolerated. The most common side effects were nausea, joint pain, fatigue and decreased appetite. But none of the side effects were serious and none of the patients dropped out of the study.
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