Company: ARVN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049527
Chunk: 106

Company: ARVINAS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 106
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82.0)Revenue recognized from new collaborations— (93.5)Ending balance$215.1 $503.7 During the nine months ended September 30, 2025, the Company updated its estimate to satisfy the performance obligations under the Vepdegestrant (ARV-471) Collaboration Agreement due to the removal of the first-line Phase 3 combination trial with Pfizer’s novel investigational CDK4 inhibitor, atirmociclib, and the removal of the second-line Phase 3 combination trial with a CDK4/6 inhibitor from the development plan. The change in accounting estimate resulted in an increase in revenue of $150.2 million, an increase in operating expenses of $2.6 million, a decrease in net loss of $147.6 million, and an increase in basic and diluted loss per share of $2.02 for the nine months ended September 30, 2025.During the nine months ended September 30, 2025, the Company also changed its estimate of the duration of the performance period under the Pfizer Research Collaboration Agreement as a result of updated research timelines. The change in accounting estimate resulted in a decrease of $2.5 million in revenue, an increase in net loss, and an increase in basic and diluted loss per share of $0.03 for the nine months ended September 30, 2025. The reversed revenue will continue to be recognized in future periods as the Company continues to advance on the performance obligation under the updated collaboration timeline.During the three months ended September 30, 2025 and 2024 and the nine months ended September 30, 2024, no changes in accounting estimates related to the Company's collaborations were recorded.

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Table o    f Contents

The aggregate amount of the transaction price allocated to performance obligations that were unsatisfied as of September 30, 2025 totaled $215.1 million, which is expected to be recognized in the following periods:(dollars in millions)Remainder of 2025$37.7 202666.6 202720.3 202890.5 Total$215.1 

4. Marketable Securities and Fair Value Measurements 

The following is a summary of the Company’s available-for-sale marketable securities measured at fair value on a recurring basis. September 30, 2025(dollars in millions)ValuationHierarchyAmortizedCostGrossUnrealizedGainsGross UnrealizedLoss