Arvinas Inc at Jefferies Healthcare Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Akash Tewari - Jefferies & Co., Inc. - Analyst : All right. So I will move quickly because we're now 15. So let's start with your AR franchise. I'll tell you this was the -- I remember working on our initiation, and then I even talked to investors. It's so hard for people at this point because there's so many hormonal agents. Prostate cancer is getting divvied up one way or the other. I mean, this is an issue even with, like, I cover Merck, and people don't know about the market opportunity for the Orion program. When you think about the low-hanging fruit, right? The patients who, with your next-gen agent, are going to be late-line castration-resistant, after treating with novel hormonal agents, how big that population theoretically could be with this next-gen drug? And then the other -- the more profound question is, obviously, this is a better-suited drug for maybe castration-sensitive. Like, it's going ahead of that. So how do we, as investors and analysts, do kind of the analysis to take the early data that you've generated here to predict what a PSA50 response rate would be in an earlier line of setting?

Question: Akash Tewari - Jefferies & Co., Inc. - Analyst : So let's put it this way. In that kind of third-line setting, you mentioned radioligands. I mean, I feel like they've been almost kind of -- there's obviously hurdles in terms of making the drug, getting it to patients, but from an efficacy perspective, they could be transformative. What is the bar for a win for you guys, right? Because some of the response rates you're seeing with the radioligands are in over 50%.

Question: Akash Tewari - Jefferies & Co., Inc. - Analyst : And that says a super strong signal. You guys are showing a response rate maybe slightly lower than that right now, but how should we view your single-agent activity in the right setting, and how that compares versus some of these radioligand data that we're seeing? And do you have to show equivalence? Or if you're actually more tolerable and easy to give, it's more about actually having roughly in the same ballpark efficacy, and then just being easier to give in a community setting.

Question: Akash Tewari - Jefferies & Co., Inc. - Analyst : And the goal for your program is to beat that, meet that, what would be?

Question: Akash Tewari - Jefferies & Co., Inc. - Analyst : Understood. I know we're running out of time, so I want to hit on 471 as well. So it's interesting, there's -- if you talk to investors, they're all, it's almost like, I'm not even valuing this, the AR degrader right now, I'm kind of looking at this and CNS, but you're actually at an extremely important moment with your program right now because you're getting your dose optimization in line. You're -- have a very interesting Phase 3. I think if we were having a discussion a year ago, I didn't know where it would fit. I think second line seems to be a really interesting space post-CDK4 use for patients. But let's narrow it down. What is going on right now in terms of your dose optimization that's occurring with Pfizer and palbo? When are we going to get updates on that program? And then, what would be really a win from a tolerability perspective, right? You get this question, like, what's the neutropenia bar they'd want to hit? I asked Pfizer, by the way, they never give me an answer, but is it something in the low 50s? Is it 60s? Just what would be enough for you to feel comfortable moving this forward?

Question: Akash Tewari - Jefferies & Co., Inc. - Analyst : So maybe number two, you had a small -- it was like a 12-patient study with 471 and strong CYP3A4 inhibitor. I think that trial, the primary completion date was sometime in April. Because the question I always had was, is it salt? Is it some other type of metabolism that's causing the DDI? And then that also is relevant because palbo's metabolized through salt, but the other ones are, a lot of the CDK4-6s have that CYP3A4 metabolism. Have you -- is there any color you can give on the results of that study and what you've learned in terms of what the -- what that DD -- modest DDI actually is? Is it salt-driven or something else?

Question: Akash Tewari - Jefferies & Co., Inc. - Analyst : I mean, like --

Question: Akash Tewari - Jefferies & Co., Inc. - Analyst : Yeah. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 08, 2023 / 3:00PM, ARVN.OQ - Arvinas Inc at Jefferies Healthcare Conference

Question: Akash Tewari - Jefferies & Co., Inc. - Analyst : Yeah.

Question: Akash Tewari - Jefferies & Co., Inc. - Analyst : Cool. Well, we're out of time. I would love to talk to you guys more about this, but I really appreciate it.