Oppenheimer analyst Mark Breidenbach lowered the firm’s price target on Arvinas to $95 from $102 and keeps an Outperform rating on the shares after meeting with management to discuss key 2023 milestones, primarily focusing on next steps for ARV-471 in ER+/HER2- breast cancer. While the pivotal VERITAC-2 monotherapy trial of ‘471 is actively enrolling patients, management now expects to initiate the pivotal VERITAC-3 combination trial of ‘471 + palbociclib in the second half of 2023 versus Q1 2023. The also notes that management plans to seek alignment with the FDA on potential VERITAC-3 protocol amendments that may implement reduced palbociclib dosing.
Published first on TheFly
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