Company: ARVN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049527
Chunk: 35

Company: ARVINAS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 35
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24$ changeNet cash used in operating activities$(243.4)$(175.2)$(68.2)Net cash provided by (used in) investing activities261.8 (64.2)326.0 Net cash (used in) provided by financing activities(17.4)7.4 (24.8)Net increase (decrease) in cash and cash equivalents$1.0 $(232.0)$233.0 

Operating Activities

Net cash used in operating activities for the nine months ended September 30, 2025 increased by $68.2 million, compared with the nine months ended September 30, 2024, primarily due to a decrease in deferred revenue of $187.6 million, driven by changes in total Vepdegestrant (ARV-471) Collaboration Agreement program cost estimates resulting from the removal of two Phase 3 combination trials from the development plan, a decrease in non-cash charges of $25.8 million, as well as an increase in accounts receivable of $7.3 million, partially offset by a decrease in our net loss of $140.4 million, changes in prepaid expenses and other assets of $8.7 million and collaboration contract asset of $3.0 million which was recognized during the nine months ended September 30, 2024. The change in non-cash charges was primarily due to a decrease in stock-based compensation of $29.4 million, partially offset by net accretion of bond discounts/premiums of $6.7 million.

Investing Activities

Net cash provided by investing activities for the nine months ended September 30, 2025 increased by $326.0 million, compared with the nine months ended September 30, 2024, primarily due to a net increase in maturities over a net decrease in purchases of marketable securities of $326.3 million.

Financing Activities 

Net cash used in financing activities for the nine months ended September 30, 2025 decreased by $24.8 million, compared with the nine months ended September 30, 2024, primarily due to repurchases of common shares of $17.8 million, including commissions and excise tax, under our share repurchase plan and a decrease in proceeds from the exercise of stock options and issuance of ESPP shares of $7.2 million.

Share Repurchase Activities

On September 17, 2025, we announced that our board of directors authorized and approved