Arvinas cuts workforce and pair of Pfizer-partnered cancer trials

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Arvinas Announces Major Layoffs and Halts Two Pfizer-Partnered Cancer Trials Amid Restructuring

Arvinas, a New Haven-based biotechnology firm, is cutting approximately one-third of its workforce, totaling 131 employees, with 92 based in Connecticut2 3 5.
The layoffs are part of a company-wide effort to "streamline operations" and focus resources efficiently across its portfolio, especially as the company continues to develop treatments for breast and prostate cancer3 5.
These staff reductions are expected to be permanent and will be completed in the second quarter of 20253.
As of the end of 2024, Arvinas employed about 430 full-time workers, with most engaged in research and development roles3.
In addition to workforce reductions, Arvinas is also discontinuing two Phase 3 clinical trials involving vepdegestrant, a drug developed in partnership with Pfizer, following mixed data from the studies3 4.
The announcement led to a sharp decline in Arvinas’ stock, which dropped nearly 25% following the news4.
The restructuring aims to reduce costs and sharpen the company's focus on core drug development programs4 5.