Kirby McInerney LLP is Investigating Potential Shareholder Claims Against Arvinas, Inc. (ARVN)
NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP reminds investors that the firm is investigating potential claims against Arvinas, Inc. ('Arvinas' or the 'Company') (NASDAQ:ARVN). The firm's ongoing investigation concerns whether Arvinas and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
On May 1, 2025, Arvinas and its partner Pfizer announced that they would discontinue development of vepdegestrant, an oral SERD for HR-positive breast cancer. The move eliminated two planned Phase 3 studies, following the termination of VERITAC-3 in January. According to The Fly, a financial news platform, Oppenheimer & Co. 'was surprised by the announcement' and questioned whether 'Arvinas' management isn't telling us the whole story.' Arvinas had repeatedly pointed to clinical progress for vepdegestrant and the drug's commercial opportunity, leaving investors caught off guard by the abrupt pivot. On this news, the price of Arvinas shares declined by $2.39 per share, or approximately 25%, from $9.62 per share on April 30, 2025, to close at $7.23 on May 1, 2025.
If you purchased or otherwise acquired Arvinas securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below to discuss your rights or interests with respect to these matters without any cost to you.
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Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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