Company: ARVN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049527
Chunk: 30

Company: ARVINAS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 30
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, primarily driven by decreases in our vepdegestrant (ARV-471), luxdegalutamide (ARV-766) and bavdegalutamide (ARV-110) programs of $5.4 million, $4.7 million and $2.4 million, respectively, partially offset by increases in our ARV-806 and ARV-393 programs of $4.3 million and $0.9 million, respectively, and (ii) our non-program specific expenses, which decreased by $0.9 million.

Non-GAAP research and development expenses for the three months ended September 30, 2025 totaled $56.9 million, compared to $73.2 million for the three months ended September 30, 2024, excluding $0.4 million of restructuring expense for the three months ended September 30, 2025, and $7.4 million and $13.7 million of non-cash stock-based compensation expense for the three months ended September 30, 2025 and 2024, respectively. We define non-GAAP research and development expenses as GAAP research and development expenses excluding restructuring and stock-based compensation expense.

Research and development expenses for the nine months ended September 30, 2025 totaled $224.1 million, compared to $264.9 million for the nine months ended September 30, 2024. The decrease of $40.8 million was primarily due to a decrease in external expenses of $18.0 million and a decrease in compensation and related personnel expenses of $21.8 million, which are not allocated by program. External expenses include (i) program-specific expenses, which decreased by $12.5 million, primarily driven by decreases in our luxdegalutamide (ARV-766), vepdegestrant (ARV-471) and bavdegalutamide (ARV-110) programs of $17.9 million, $10.4 million and $4.5 million, respectively, partially offset by increases in our ARV-102, ARV-806, ARV-393 and other programs of $7.8 million, $6.6 million, $3.1 million and $2.8 million, respectively, and (ii) our non-program specific expenses, which decreased by $5.5 million.

Non-G