Company: ARVN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001655759-25-000139
Chunk: 132

Company: ARVINAS, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 132
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 expense for the three months ended June 30, 2025, and $6.8 million and $10.9 million of non-cash stock-based compensation expense for the three months ended June 30, 2025 and 2024, respectively. We 

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define non-GAAP general and administrative expenses as GAAP general and administrative expenses excluding restructuring and stock-based compensation expense.

General and administrative expenses totaled $51.9 million for the six months ended June 30, 2025, compared to $55.6 million for the six months ended June 30, 2024. The decrease of $3.7 million was primarily due to a decrease in personnel and infrastructure related costs of $7.2 million, partially offset by an increase in costs related to developing our commercial operations of $3.3 million.

Non-GAAP general and administrative expenses for the six months ended June 30, 2025 totaled $41.3 million, compared to $38.4 million for the six months ended June 30, 2024, excluding  $0.4 million of restructuring expense for the six months ended June 30, 2025, and $10.2 million and $17.2 million of non-cash stock-based compensation expense for the six months ended June 30, 2025 and 2024, respectively. We define non-GAAP general and administrative expenses as GAAP general and administrative expenses excluding restructuring and stock-based compensation expense.

Other Income

Other income totaled $10.0 million for the three months ended June 30, 2025, compared to $13.5 million for the three months ended June 30, 2024. The decrease of $3.5 million was primarily due to a decrease in interest income of $3.3 million on our marketable securities and an increase in realized foreign exchange losses of $0.2 million.

Other income totaled $21.6 million for the six months ended June 30, 2025, compared to $27.5 million for the six months ended June 30, 2024. The decrease of $5.9 million was primarily due to a decrease in interest income of $5.7 million on our marketable securities and an increase in realized foreign exchange losses of $0.2 million.

Income Tax 

Income tax benefit totaled $0.3 million for the three months