Arvinas plummets after late-stage data from breast cancer treatment

Drug developer Arvinas' ARVN.O shares fall 39% to $10.70 premarket

Pfizer PFE.N and ARVN say their experimental breast cancer treatment helped significantly improve the time some patients lived without the disease worsening, but failed to achieve statistically significant results in others

The drug, vepdegestrant, was tested in patients with a type of advanced breast cancer whose disease progressed following prior treatment

Arvinas says the drug failed to show statistically significant improvements in the intent-to-treat population during the late-stage trial

As of last close, ARVN down 62.7% in past 12 months