ARVN - Arvinas up following Cowen outperform initiation; sees promise for breast cancer therapy

Shares of ARVN (ARVN +2.2%) are higher this morning after Cowen initiated the company with an outperform rating. The firm does not have a price target. Analyst Tyler Van Buren cites potential for ARV-471 and ARV-110. The former is in phase 2 for ER+/HER- breast cancer and the latter in phase 2 for metastatic castration-resistant prostate cancer. He expects strong full-dose escalation data on ARV-471 to be presented on Friday at a medical conference, adding that it has "the potential to be a backbone therapy for mER+ breast cancer." While currently assigning less value to ARV-100, Buren notes phase 2 data expected at the American Society of Clinical Oncology Genitourinary Cancers Sympsosium in February 2022 could change this. Van Buren adds that the company's pipeline based on PROTAC protein degraders includes seven planned IND over the next one to two years. Check out why Seeking Alpha contributor Avisol Capital Partners is

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Arvinas up following Cowen outperform initiation; sees promise for breast cancer therapy