Arvinas announces board resignation and reports annual meeting voting results

Published 30/06/2025, 12:14
Arvinas announces board resignation and reports annual meeting voting results

Arvinas, Inc. (NASDAQ:ARVN) reported Monday that John Young has notified the company of his decision to resign from its board of directors and the compensation committee, effective Monday. According to a statement in the company’s SEC filing, Young’s resignation was not due to any disagreement with Arvinas regarding operations, policies, or practices.

At its annual meeting held Wednesday, Arvinas shareholders elected three Class I directors for terms expiring at the 2028 annual meeting. The elected directors are Linda Bain, John Houston, Ph.D., and Laurie Smaldone Alsup, M.D. Voting results for each nominee were as follows: Bain received 40,537,500 votes in favor and 12,344,284 withheld; Houston received 41,078,364 votes in favor and 11,803,420 withheld; Smaldone Alsup received 42,326,574 votes in favor and 10,555,210 withheld. There were 7,510,892 broker non-votes for each nominee. The company, with a market capitalization of $550 million, faces important governance decisions as it navigates challenging market conditions.

Shareholders also approved, on an advisory basis, the compensation of the company’s named executive officers. The proposal received 39,539,338 votes in favor, 13,240,969 against, and 101,477 abstentions, with 7,510,892 broker non-votes.

Additionally, the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified. The vote totals were 58,006,476 in favor, 2,312,679 against, and 73,521 abstentions.

These disclosures are based on a press release statement included in Arvinas’s recent SEC filing.

In other recent news, Arvinas Inc., in collaboration with Pfizer Inc. (NYSE:PFE), has submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration for vepdegestrant, aimed at treating ER-positive/HER2-negative ESR1-mutated advanced or metastatic breast cancer. The submission follows promising results from the Phase 3 VERITAC-2 clinical trial, which demonstrated a median progression-free survival of five months for vepdegestrant, compared to 2.1 months in the control group. Additionally, the drug has been granted Fast Track designation by the FDA. H.C. Wainwright analysts have reaffirmed their Buy rating on Arvinas stock, citing the potential of vepdegestrant as the first approved treatment for ESR1-mutant patients. Meanwhile, Leerink Partners downgraded Arvinas from Outperform to Market Perform due to competition from emerging therapies like AstraZeneca (NASDAQ:AZN)’s camizestrant. Citi also adjusted Arvinas’s price target to $9.50, maintaining a Neutral rating, following Pfizer’s decision to halt certain combination trials involving vepdegestrant. These developments highlight the evolving landscape in breast cancer treatment and the strategic shifts by Arvinas and Pfizer in response to clinical trial outcomes and market competition.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.