Company: ARVN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001655759-25-000139
Chunk: 135

Company: ARVINAS, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 135
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 $0.7 million and $0.8 million as of June 30, 2025 and December 31, 2024, respectively.

The following table summarizes our sources and uses of cash for the period presented: 

 For the Six Months EndedJune 30,(dollars in millions)20252024$ changeNet cash used in operating activities$(184.3)$(47.2)$(137.1)Net cash provided by (used in) investing activities198.3 (114.7)313.0 Net cash provided by financing activities0.4 5.0 (4.6)Net increase (decrease) in cash, cash equivalents and restricted cash$14.4 $(156.9)$171.3 

Operating Activities

Net cash used in operating activities for the six months ended June 30, 2025 increased by $137.1 million, compared with the six months ended June 30, 2024, primarily due to a decrease in deferred revenue of 

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$261.3 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 $9.7 million, as well as a decrease in accounts payable and accrued liabilities of $3.7 million, partially offset by an increase in our net income of $126.3 million and a decrease in accounts receivable of $5.2 million. The change in non-cash charges was primarily due to a decrease in stock-based compensation of $14.9 million and depreciation and amortization expense of $0.9 million, partially offset by net accretion of bond discounts/premiums of $3.9 million and the amortization of costs to obtain a contract of $2.0 million, related to the changes in total Vepdegestrant (ARV-471) Collaboration Agreement noted above.

Investing Activities

Net cash from investing activities for the six months ended June 30, 2025 increased by $313.0 million, compared with the six months ended June 30, 2024, primarily due to a net increase in maturities over a net decrease in purchases of marketable securities of $313.9 million, partially offset by an increase in purchases of equipment and leasehold improvements of $0.8 million.

Financing Activities 

Net cash from financing activities for