Following a strategic review of its pipeline, the Company has made the decision to re-prioritize its portfolio. As previously disclosed, in the second quarter of 2026, the Company announced that it had completed dose escalation enrollment of the Phase 1 clinical trial evaluating ARV-806 in patients with solid tumors harboring Kirsten rat sarcoma ("KRAS") G12D mutations. The Company is planning to complete this Phase 1 monotherapy dose escalation clinical trial and share clinical data in 2026. The Company plans to seek an out-licensing agreement for any additional clinical trials, including dose expansion or combination clinical trials, for ARV-806.

The Company continues to believe that its cash, cash equivalents and marketable securities as of March 31, 2026, will enable the Company to fund its planned operating expenses and capital expenditure requirements into the second half of 2028.