ArriVent shares tumble as lung cancer trial of furmonertinib misses primary goal

ArriVent BioPharma reported that its late-stage study of furmonertinib in patients with EGFR exon 20 insertion-mutated non-small cell lung cancer did not achieve its primary endpoint.

The trial, which compared the drug to standard chemotherapy as a first-line treatment, showed no meaningful delay in tumor progression, prompting a drop of more than 50% in the company’s share price in pre-market trading.

Furmonertinib is already approved in China for certain lung cancers and is marketed by Allist Pharmaceuticals. CEO Bing Yao said the company will review the data to decide on future development steps, acknowledging that the missed result reduces its chance to compete with larger players such as Johnson & Johnson.