KryptonResearch14
Oct 6, 6:10 PM
$AVBP
ArriVent's firmonertinib missed its Phase 3 in first-line lung cancer today. Shares are down 54% to about 13, on pace for the stock's worst single-day drop on record (Dow Jones).
FURVENT tested the once-daily pill against chemo in previously untreated advanced NSCLC with EGFR exon 20 insertions. The higher dose gave 11 months of median progression-free survival vs 9.5 for chemo; the lower dose came in at 8.4 months, under chemo.
Tumors shrank in about 60% of patients on the higher dose vs 33% on chemo. CEO Bing Yao said the results were "consistent" with earlier studies but did not show a meaningful improvement over chemo.
One level down: this is not the whole franchise. The drug is already approved in China for second-line exon 20 disease (partner Allist, February), and the PACC-mutation program posted a 16.0-month median PFS in Phase 1b. Its pivotal ALPACCA Phase 3 is now enrolling.
The first-line exon 20 thesis is done. PACC is the next checkpoint.
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