Arvinas (ARVN) delivered earnings and revenue surprises of 34.46% and 18.09%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
– Continued enrollment globally in multiple clinical studies of vepdegestrant in ER+/HER2- metastatic breast cancer, including the VERITAC-2 Phase 3 trial in the second-line setting and the study lead-in for the VERITAC-3 Phase 3 trial in the first-line setting – – Top-line data readout for VERITAC-2 remains on-track for 2H 2024 – – Entered a transaction with Novartis providing an exclusive license for ARV-766 and sale of preclinical AR-V7 program; $150 million upfront payment and potential for
Arvinas (ARVN) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.