Morningstar

Arvinas to Cut 15% of Staff Amid Vepdegestrant Outsourcing

Provided by Dow Jones

By Katherine Hamilton 




  Arvinas plans to reduce its workforce by 15% as it plans to out-license the commercial rights for its breast cancer drug vepdegestrant. 



  Arvinas and Pfizer have been working to develop vepdegestrant, an estrogen receptor protein degrader under review by the Food and Drug Administration as a breast cancer treatment. The companies said Wednesday they had agreed that licensing the rights to a third party would be the best way to unlock the drug's full value. 



  The jobs Arvinas plans to cut will primarily be those related to vepdegestrant commercialization, it said. The reduction is expected to be completed in the first half of 2026 and cost $4.5 million in the third and fourth quarters of 2025. 



  Shares fell 3% to $7.40 in after-hours trading. The stock has lost 60% of its value over the past year. 





  Write to Katherine Hamilton at katherine.hamilton@wsj.com 





  (END) Dow Jones Newswires



  September 17, 2025 18:42 ET (22:42 GMT)


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