Company: ARVN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049527
Chunk: 217

Company: ARVINAS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 217
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 million of restructuring expense for the nine months ended September 30, 2025, and $27.4 million and $36.8 million of non-cash stock-based compensation expense for the nine months ended September 30, 2025 and 2024, respectively. We define non-GAAP research and development expenses as GAAP research and development expenses excluding restructuring and stock-based compensation expense.

General and Administrative Expenses 

General and administrative expenses totaled $21.0 million for the three months ended September 30, 2025, compared to $75.8 million for the three months ended September 30, 2024. The decrease of $54.8 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, a decrease in personnel and infrastructure related costs of $7.3 million, professional fees of $3.6 million and a decrease in costs related to developing our commercial operations of $0.8 million.

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Non-GAAP general and administrative expenses for the three months ended September 30, 2025 totaled $14.6 million, compared to $64.8 million for the three months ended September 30, 2024, excluding $0.6 million of restructuring related reversal of previously recognized expense for the three months ended September 30, 2025, and $7.0 million and $11.0 million of non-cash stock-based compensation expense for the three 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.

General and administrative expenses totaled $72.9 million for the nine months ended September 30, 2025, compared to $131.3 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