Company: ARVN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001655759-25-000139
Chunk: 99

Company: ARVINAS, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 99
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.9 million and $11.4 million, respectively. The total fair value of RSUs vested during the six months ended June 30, 2025 and 2024 was $42.4 million and $10.2 million, respectively.

10. Income Taxes 

For the three months ended June 30, 2025, the Company recognized income tax benefit of $0.3 million, resulting in an effective tax rate of 0.6%, as compared to income tax expense of $0.2 million, resulting in an effective tax rate of (0.6)%, in the same period for 2024. The primary reconciling items between the federal statutory rate of 21.0% for the three months ended June 30, 2025 and the Company’s overall effective tax rate of 0.6% was the effect of equity compensation and the valuation allowance recorded against the full amount of its net deferred tax assets. The primary reconciling items between the federal statutory rate of 21.0% for the three months ended June 30, 2024 and the Company’s overall effective tax rate of (0.6)% was the effect of equity compensation and the valuation allowance recorded against the full amount of its net deferred tax assets.For the six months ended June 30, 2025, the Company recognized income tax benefit of $0.2 million, resulting in an effective tax rate of (0.9)%, as compared to income tax expense of $0.3 million resulting in an effective tax rate of (0.3)% in the same period for 2024. The primary reconciling items between the federal statutory rate of 21.0% for the six months ended June 30, 2025 and the Company’s overall effective tax rate of (0.9)% was the effect of equity compensation and the valuation allowance recorded against the full amount of its net deferred tax assets. The primary reconciling items between the federal statutory rate of 21.0% for the six months ended June 30, 2024 and the Company’s overall effective tax rate of (0.3)% was the effect of equity compensation and the valuation allowance recorded against the full amount of its net deferred tax assets.A valuation allowance is established when it is more likely than not that some portion or all of a deferred tax asset will not be realized. The realization of deferred tax assets depends on the generation of future taxable income during the period in which related temporary differences become deductible. The Company continues to establish