Arvinas, Inc 12th Annual Cantor Fitzgerald Global Healthcare Conference

Thank you very much, Lee, and thanks for having us. I think what a lot of people know about Arvinas is that we invented the PROTAC technology and now have the first program that's out actually serving patients. We're excited that our first program is now being launched, which is fantastic for patients with breast cancer. What I think folks right now are catching up with is that we've transitioned our focus to the pipeline, but a lot of the pipeline programs are now very rapidly moving towards their first data in phase I. There's a whole lot coming in just the next few months and over the next nine months for all four of the programs that we now have in the clinic.

We have a program, ARV-393, which is a BCL-6 degrader for hematology, which will have its first phase I data by the end of this year. That's in patients with subsets of NHL, so that's coming up pretty quickly. We've got a LRRK2 degrader in neurodegeneration, which will have its next biomarker data from phase I in just the next month at the MDS Conference in Korea. So that's coming up very quickly. We've got a new program that started in the clinic earlier this year for a disease called Kennedy's or SBMA. That'll have its first phase I data in both healthy volunteers and patients in the first half of next year. Then to round it out, we're just now starting another program in the clinic, an HPK1 degrader called ARV-6723, which is our first IO program. So a lot of opportunity there as well.

All four of those are now coming into a pretty rapid succession of data. At the same time, since I took over leadership earlier this year, I've been really clear about a desire to have Arvinas focusing on where Arvinas can win. We've got a number of programs in the clinic. We've got a demonstrated ability to move programs into the clinic, thanks to Angela and her team. Now the question is, which of those are we going to wholly own and move forward? Right now, all four of those, we're able to move to the important inflection points and data points with the capital that we have. Our cash runways into the second half of 2028. All the data that we've just been talking about is well within that.

We've got a very strong focus on making sure we're efficient in moving the capital right where it needs to be to move those programs to important data. But right now, we're really in a bit of a transition from focusing on VEP to focusing on the pipeline, and now we've reached a point where all those data are now quite imminent. So it's a great time to be sharing at the conference.

Right. The two biggest areas we have are in oncology and neurology, and all of the programs can roughly segment under those two headings. We don't really make a bias or a preference towards oncology or neurology. What we're trying to focus on is now that we know PROTAC degraders can work, where's the right place to take them, and what's the right target to hit with that technology? The programs that we have in the clinic right now are all able to be moved forward and hit their important points with the capital that we have, like we've talked about. So the prioritization that will come is really when we see the data from those trials and helps us make decisions. I think a great example of that is we've had a KRAS G12D degrader in the clinic.

We haven't shared the phase I data yet, but we announced earlier this year that that's a program that will move forward only with a partner. So that's one where we've decided that Arvinas isn't the right company to take that forward. I think the prioritization that you may see coming up will be based, again, on the data that we see. So we are really focused on where Arvinas is the right company to make the difference and figuring out where we can invest strongly to win. That didn't feel like the space coming from behind in KRAS. So that's how we think about it. Going forward, as we think about prioritization, clearly, we will run what we can. The idea is to hold on to wholly owned assets that help us create value for patients and shareholders.

But at this point, we have the ability to move them all forward through phase I.

Right. Over time, the resources that we have can certainly grow, right?

Yeah. Right now, we're in a comfortable position with cash.

We don't have the need to go out and raise. But as the programs move forward, phase I's have a tendency to turn into phase II's. They have a tendency to turn into phase III's. And as that happens, we'll bring in cash if we need to, pending success and generating some excitement. But I don't think there's not a goal around we are going to try to move forward one or two or some specific number.

We're going to move forward the programs that we're excited about, investors are excited about us moving forward, and that will really help us make the decisions.