Pfizer Inc. (NYSE:PFE) and partner Arvinas Inc. (NASDAQ:ARVN) shares rose Monday after the companies secured a key regulatory win, with the U.S. Food and Drug Administration approving VEPPANU (vepdegestrant) for the treatment of advanced breast cancer.

The approval covers estrogen receptor-positive (ER+)/human epidermal growth factor receptor 2-negative (HER2-), estrogen receptor 1 (ESR1)-mutated advanced or metastatic breast cancer, as detected by an FDA-authorized test, with disease progression following at least one line of endocrine therapy.

On Friday, the FDA approved VEPPANU, a first-of-its-kind PROTAC therapy aimed at treating adults with estrogen receptor-positive, HER2-negative advanced breast cancer.

The approval, ahead of the FDA’s assigned PDUFA date of June 5, 2026, marks a pivotal moment for Pfizer as it continues to expand its oncology portfolio.

VEPPANU was discovered by Arvinas ...