Arvinas Announces Chief Financial Officer Transition
20 Fevereiro 2024 - 6:05PM
Arvinas, Inc. (NASDAQ: ARVN), a clinical-stage biotechnology
company creating a new class of drugs based on targeted protein
degradation, today announced that after more than a decade with the
company, Sean Cassidy, C.P.A, Chief Financial Officer and
Treasurer, will be leaving the company to pursue a new opportunity,
effective February 29, 2024. The Arvinas Board of Directors has
launched a formal search process to identify Mr. Cassidy’s
permanent replacement. While this search is underway, Randy Teel,
Ph.D., Arvinas’ current Senior Vice President of Corporate and
Business Development, will assume the role of interim Chief
Financial Officer and Treasurer.
“Sean has been an integral part of Arvinas’ journey since the
very beginning, having served as Chief Financial Officer since
2013,” said John Houston, Ph.D., Chairperson, Chief Executive
Officer, and President at Arvinas. “On behalf of the leadership
team, we are grateful for his dedication and leadership as CFO and
the pivotal role he has played in creating Arvinas’ strong
financial profile and building a talented finance organization as
we have pioneered our PROTAC® platform. I would also like to
express my deep-felt gratitude for our friendship and wish him the
best in his next endeavor.”
“It has been an incredible journey contributing to the growth
and success of Arvinas,” said Mr. Cassidy. “I am confident in the
company’s future, the promising clinical development and commercial
opportunity for the PROTAC® protein degrader pipeline, and I wish
my colleagues continued success as they pursue the vision we have
created together over the past decade to potentially bring Arvinas’
promising new technology to patients.”
Arvinas has four programs in clinical trials, including
investigational proteolysis-targeting chimera (PROTAC®) degraders
in development for patients with breast cancer, prostate cancer,
and neurodegenerative diseases. Arvinas expects its cash, cash
equivalents, and marketable securities to fund its operations into
2027.
About ArvinasArvinas is a clinical-stage
biotechnology company dedicated to improving the lives of patients
suffering from debilitating and life-threatening diseases through
the discovery, development, and commercialization of therapies that
degrade disease-causing proteins. Arvinas uses its proprietary
PROTAC Discovery Engine platform to engineer proteolysis targeting
chimeras, or PROTAC targeted protein degraders, that are designed
to harness the body’s own natural protein disposal system to
selectively and efficiently degrade and remove disease-causing
proteins. In addition to its robust preclinical pipeline of PROTAC
protein degraders against validated and “undruggable” targets, the
company has four investigational clinical-stage programs:
vepdegestrant (ARV-471) for the treatment of patients with locally
advanced or metastatic ER+/HER2- breast cancer; ARV-766 and
bavdegalutamide for the treatment of men with metastatic
castration-resistant prostate cancer; and ARV-102 for the treatment
of patients with neurodegenerative disorders. For more information,
visit www.arvinas.com.
Arvinas Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of The Private Securities Litigation
Reform Act of 1995 that involve substantial risks and
uncertainties, including statements regarding Arvinas’ ability to
bring its technology to patients, the clinical development and
commercial opportunity for Arvinas’ PROTAC® protein degrader
pipeline, and Arvinas’ cash runway. The words “believe,” “expect,”
“may,” “plan,” “potential,” “will,” “continue,” and similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. Arvinas may not actually achieve the plans,
intentions or expectations disclosed in these forward-looking
statements, and you should not place undue reliance on such
forward-looking statements. Actual results or events could differ
materially from the plans, intentions and expectations disclosed in
the forward-looking statements made as a result of various risks
and uncertainties, including but not limited to: Arvinas’ approach
to the discovery and development of product candidates based on its
PROTAC technology platform is unproven, which makes it difficult to
predict the time, cost of development and likelihood of
successfully developing any products; Arvinas’ ability to protect
its intellectual property position; whether cash and cash
equivalent resources will be sufficient to fund Arvinas’
foreseeable and unforeseeable operating expenses and capital
expenditure requirements; and other important factors discussed in
the “Risk Factors” section of the company’s Annual Report on Form
10-K for the year ended December 31, 2022, and subsequent other
reports on file with the U.S. Securities and Exchange Commission.
The forward-looking statements contained in this press release
reflect current views with respect to future events, and Arvinas
assumes no obligation to update any forward-looking statements
except as required by applicable law. These forward-looking
statements should not be relied upon as representing Arvinas’ views
as of any date after the date of this release.
Arvinas Contacts
Investor Contact:
Jeff Boyle, Arvinas Investor Relations
+1 (347) 247-5089
Jeff.Boyle@arvinas.com
Media Contact:
Kathleen Murphy, Arvinas Communications
+1 (760) 622-3771
Kathleen.Murphy@arvinas.com
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