Arvinas (ARVN) shares fell 5.7% in recent Friday trading after the company outlined plans for a data update on a breast cancer drug in collaboration with Pfizer (PFE).

Topline data from the monotherapy phase 3 VERITAC-2 trial of vepdegestrant is anticipated in Q1 for patients with estrogen receptor-positive and human epidermal growth factor receptor 2-negative metastatic breast cancer, Arvinas said Friday in a statement.

Two new phase 3 combination trials for first- and second-line treatment are scheduled, pending regulatory feedback, Arvinas said,

"With the prioritization of the vepdegestrant plus atirmociclib combination for the first-line setting, the VERITAC-3 trial evaluating vepdegestrant plus palbociclib in the first line will not proceed beyond the study lead-in," the company said.

The company plans to file an investigational new drug application for the PROTAC KRAS G12D degrader to treat various types of cancer.

Arvinas said Chief Commercial Officer John Northcott is leaving for personal reasons, effective Jan. 17.

Alex Santini was appointed interim CCO. He is currently senior vice president, global and U.S. market access.

Pfizer shares were little changed.

Price: 18.69, Change: -1.13, Percent Change: -5.70