Company: ARVN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049527
Chunk: 107

Company: ARVINAS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 107
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esFair ValueCorporate bondsLevel 2$621.1 $1.5 $(0.2)$622.4 Government securitiesLevel 263.6 0.1 — 63.7 Total$684.7 $1.6 $(0.2)$686.1  December 31, 2024(dollars in millions)ValuationHierarchyAmortizedCostGrossUnrealizedGainsGrossUnrealizedLossesFair ValueCorporate bondsLevel 2$934.4 $1.7 $(0.7)$935.4 Government securitiesLevel 23.5 — — 3.5 Total$937.9 $1.7 $(0.7)$938.9 The Company generally does not intend to sell any investments prior to recovery of their amortized cost basis for any investment in an unrealized loss position. As such, the Company has classified these losses as temporary in nature.The carrying values of cash and cash equivalents, accounts receivable and accounts payable and accrued liabilities approximate their fair values due to the short-term nature of these assets and liabilities.

5. Property, Equipment and Leasehold Improvements 

Property, equipment and leasehold improvements consist of the following:(dollars in millions)September 30,2025December 31,2024Laboratory equipment$20.9 $20.6 Leasehold improvements9.1 9.3 Office equipment2.9 2.7 Total property, equipment and leasehold improvements32.9 32.6 Less: accumulated depreciation and amortization(27.5)(25.6)Property, equipment and leasehold improvements, net$5.4 $7.0 

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Table o    f Contents

During the three months ended September 30, 2025 and 2024, the Company recognized depreciation and amortization expense of $0.8 million and $1.1 million, respectively. During the nine months ended September 30, 2025 and 2024, the Company recognized depreciation and amortization expense of $2.3 million and $3.5 million, respectively.During the three and nine months ended September 30, 2024, the Company wrote-off leasehold improvements totaling $2.4 million resulting from the termination of the lease for its laboratory and office space at 101 College Street, as discussed below in Note 6, Right-of