ArriVent shares plunge over 50% after furmonertinib misses goal in late-stage lung cancer trial

ArriVent BioPharma's experimental lung cancer pill furmonertinib failed its primary endpoint in a late-stage study, sending shares down more than 50% in pre-market trading Tuesday. The therapy, tested as a first-line treatment for tumors with EGFR exon 20 insertion mutations, delayed tumor progression by a median 11 months at the highest dose versus 9.5 months for chemotherapy — a 1.5-month benefit that missed statistical significance and fell short of the three-month improvement Jefferies analysts had sought. CEO Bing Yao said the company will review the data to determine next steps. No new safety signals were reported; ArriVent noted a "trend" toward survival benefit. Furmonertinib is approved in China for certain lung cancers, sold there by original developer Allist Pharmaceuticals. Success would have let ArriVent challenge Johnson & Johnson's Rybrevant, Takeda's withdrawn Exkivity, AstraZeneca, and a Taiho Oncology–Cullinan Therapeutics partnership.