Company: ARVN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001655759-25-000139
Chunk: 180

Company: ARVINAS, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 180
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 basis. The following table summarizes our research and development expenses for the three and six months ended June 30, 2025 and 2024:

For the Three Months EndedJune 30,For the Six Months EndedJune 30,(dollars in millions)2025202420252024Program-specific external expense:Vepdegestrant (ARV-471) (*)$15.1 $25.1 $39.2 $44.1 ARV-1023.8 1.7 10.3 3.0 ARV-3932.5 1.7 5.1 2.9 ARV-806 1.7 0.2 2.6 0.3 Bavdegalutamide (ARV-110)0.9 2.5 2.0 4.1 Luxdegalutamide (ARV-766)— 9.5 — 13.2 Other programs0.8 — 2.5 — Total program-specific external expense24.8 40.7 61.7 67.6 Non program-specific external expense11.1 13.5 25.0 29.6 Unallocated internal expenseCompensation and related personnel expense(including stock-based compensation)28.4 36.3 65.3 74.6 Other research and development expense4.3 3.2 7.4 6.2 Total unallocated internal expense32.7 39.5 72.7 80.8 Total research and development expense$68.6 $93.7 $159.4 $178.0 

(*)    Includes net reimbursement to and from Pfizer pursuant to the Vepdegestrant (ARV-471) Collaboration Agreement.

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, ARV-393 and ARV-806, and continue to discover and develop additional product candidates. Research and development expenses related to vepdegestrant are shared equally with Pfizer since July 22, 2021, the effective date of the Vepdegestrant (ARV-471) Collaboration Agreement. We may receive reimbursement from, or make payments