Company: ARVN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049527
Chunk: 173

Company: ARVINAS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 173
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2025, resulting in an increase in the Company's ROU assets of $1.5 million.

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Maturities of operating lease liabilities as of September 30, 2025, were as follows:(dollars in millions)Remainder of 2025$0.6 20262.3 20272.4 20282.5 20292.6 Total lease payments10.4 Less: imputed interest(1.5)Total$8.9 

7. Accounts Payable and Accrued Liabilities 

Accounts payable and accrued liabilities consisted of the following:(dollars in millions)September 30,2025December 31,2024Accounts payable$18.0 $13.4 Accrued liabilitiesResearch and development expenses16.6 25.9 Employee expenses12.9 22.4 Income taxes3.8 3.2 General and administrative and commercial expenses3.2 5.1 Professional fees1.0 1.8 Total accounts payable and accrued liabilities$55.5 $71.8 

8. Long-Term Debt

Debt obligations consisted of the following:(dollars in millions)Maturity DateInterest RateSeptember 30,2025December 31,20242018 Assistance Agreement Debt09/283.25%$0.6 $0.8 Less: current installments(0.2)(0.2)Total long-term debt$0.4 $0.6 In June 2018, the Company entered into an assistance agreement with the State of Connecticut (the "2018 Assistance Agreement") to provide funding for the expansion and renovation of laboratory and office space. The Company borrowed $2.0 million under the 2018 Assistance Agreement in September 2018, of which $1.0 million was forgiven upon meeting certain employment conditions. Borrowings under the 2018 Assistance Agreement bear an interest rate of 3.25% per annum, with interest-only payments required for the first 60 months, and mature in September 2028. The 2018 Assistance Agreement requires that the Company be located in the State of Connecticut through September 2028, with a default penalty of repayment of the full original funding amount of $2.0 million plus liquidated damages of 7.5% of the total amount of funding received.

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