Company: ARVN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049527
Chunk: 24

Company: ARVINAS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 24
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We expense research and development costs as incurred. 

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Table o    f Contents

We typically use our employee and infrastructure resources across our development programs, and as such, do not track all of our internal research and development expenses on a program-by-program basis. The following table summarizes our research and development expenses for the three and nine months ended September 30, 2025 and 2024:

For the Three Months EndedSeptember 30,For the Nine Months EndedSeptember 30,(dollars in millions)2025202420252024Program-specific external expense:Vepdegestrant (ARV-471) (*)14.2 19.6 53.4 63.8 ARV-1025.0 4.5 15.3 7.5 ARV-806 5.1 0.8 7.7 1.1 ARV-3932.6 1.7 7.7 4.6 Bavdegalutamide (ARV-110)0.3 2.7 2.3 6.8 Luxdegalutamide (ARV-766)— 4.7 — 17.9 Other programs0.3 — 2.8 — Total program-specific external expense27.5 34.0 89.2 101.7 Non program-specific external expense12.8 13.7 37.9 43.4 Unallocated internal expenseCompensation and related personnel expense(including stock-based compensation)21.6 35.8 88.6 110.4 Other research and development expense2.8 3.4 8.4 9.4 Total unallocated internal expense24.4 39.2 97.0 119.8 Total research and development expense$64.7 $86.9 $224.1 $264.9 

(*)    Includes net reimbursement to and from Pfizer pursuant to the Vepdegestrant (ARV-471) Collaboration Agreement which are accounted for pursuant to ASC 808 and are recorded as an offset or an increase to research and development expenses.

Research and development activities are central to our business model. We expect that our research and development expenses will continue to increase substantially for the foreseeable future as we continue to conduct our ongoing clinical trials of vepdegestrant, ARV-102,