USFDAMay 11, 2026, 05:22 PM
Arvinas' VEPPANU Receives FDA Approval; Q1 Revenue $15.6M, Net Loss $57.6M
AI Summary
Arvinas announced that its product VEPPANU™ (vepdegestrant) received FDA approval in the second quarter of 2026 for the treatment of ER+/HER2- metastatic breast cancer, triggering an expected $50.0 million milestone payment from Pfizer. Financially, the company reported a net loss of $57.6 million for Q1 2026, a significant decline from a net income of $82.9 million in Q1 2025, with revenue dropping to $15.6 million from $188.8 million year-over-year. Despite the financial downturn, Arvinas maintains a strong liquidity position with $614.9 million in cash, cash equivalents, and marketable securities, projected to fund operations into the second half of 2028.
Key Highlights
- VEPPANU™ (vepdegestrant) received FDA approval for ER+/HER2- metastatic breast cancer in Q2 2026.
- Company expects a $50.0 million development milestone payment from Pfizer due to VEPPANU's FDA approval.
- Q1 2026 revenue was $15.6 million, a significant decrease from $188.8 million in Q1 2025.
- Net loss for Q1 2026 was $57.6 million, compared to a net income of $82.9 million in Q1 2025.
- Basic loss per common share was $0.90 in Q1 2026, versus earnings of $1.14 in Q1 2025.
- Cash, cash equivalents, and marketable securities totaled $614.9 million as of March 31, 2026.
- Company expects current cash and investments to fund operations into the second half of 2028.
- Research and development expenses decreased to $60.3 million in Q1 2026 from $90.8 million in Q1 2025.