Surprise data drop by conference puts Arvinas in cleanup mode

The early release of a study of Arvinas’ breast cancer drug ARV-471 has put the company on defense after an academic conference put out the data by accident.

On Monday, the San Antonio Breast Cancer Symposium released the full presentation for the company’s Phase II trial of the drug, which is part of a collaboration deal with Pfizer that could be worth as much as $2.4 billion.

The study wasn’t supposed to be released until Dec. 8, Arvinas said in a press release Tuesday, but the medical conference “incorrectly published the abstract, omitting a key safety data table, and inadvertently released the corresponding full data presentation on the SABCS website.”

After the release Monday, Arvinas’ shares $ARVN dropped 16%. The company has scheduled a conference call with investors on Tuesday afternoon to walk through the results. Shares…
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