ArriVent shares plunge 47% after China-licensed cancer drug fails Phase 3 trial

ArriVent BioPharma's stock collapsed nearly 47% after its lead cancer drug firmonertinib, licensed from China's Allist Pharmaceuticals, failed a Phase 3 trial. The failure underscores the regulatory and clinical risks facing Chinese biotech firms seeking global expansion through out-licensing deals. It may temper investor enthusiasm for China-originated drug assets and impact future licensing valuations.