Company: ARVN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049527
Chunk: 154

Company: ARVINAS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 154
---
million for the nine months ended September 30, 2024. The decrease of $58.4 million was primarily due to a loss on the termination of our laboratory and office space lease with 101 College Street LLC in August 2024 of $43.4 million, decrease in personnel and infrastructure related costs of $14.5 million and a decrease in professional fees of $3.4 million, partially offset by an increase in costs related to developing our commercial operations of $2.5 million.

Non-GAAP general and administrative expenses for the nine months ended September 30, 2025 totaled $55.9 million, compared to $103.1 million for the nine months ended September 30, 2024, excluding $0.3 million of restructuring related reversal of previously recognized expense for the nine months ended September 30, 2025, and $17.3 million and $28.2 million of non-cash stock-based compensation expense for the nine months ended September 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 $9.0 million for the three months ended September 30, 2025, compared to $11.7 million for the three months ended September 30, 2024. The decrease of $2.7 million was primarily due to a decrease in interest income on our marketable securities of $5.2 million, offset by a loss on the disposal of fixed assets of $2.5 million related the termination of our laboratory and office space lease with 101 College Street LLC in August 2024.

Other income totaled $30.6 million for the nine months ended September 30, 2025, compared to $39.2 million for the nine months ended September 30, 2024. The decrease of $8.6 million was primarily due to a decrease in interest income of $10.9 million on our marketable securities, offset by a loss on the disposal of fixed assets of $2.5 million related the termination of our laboratory and office space lease with 101 College Street LLC in August 2024.

Income Tax 

Income tax expense totaled $0.3 million for the three months ended September 30, 2025, compared to an income tax expense of $0