Company: ARVN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001655759-25-000085
Chunk: 154

Company: ARVINAS, INC.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 154
---
Our operating expenses since inception have consisted solely of research and development costs and general and administrative costs. 

28

Research and Development Expenses 

Research and development expenses consist primarily of costs incurred for our research activities, including our discovery efforts, and the development of our product candidates, and include: 

•employee related expenses, including salaries, benefits, stock-based compensation expense and travel, for personnel engaged in research and development functions; 

•expenses incurred under agreements with third parties, including CROs and other third parties that conduct research, preclinical and clinical activities on our behalf as well as third parties that manufacture our product candidates for use in our preclinical studies and clinical trials; 

•costs of outside consultants, including their fees, stock-based compensation and related travel expenses; 

•the costs of laboratory supplies and developing preclinical studies and clinical trial materials; 

•facility-related expenses, which include direct depreciation costs of equipment and allocated expenses for rent and maintenance of facilities and other operating costs; 

•costs incurred in the development of intellectual property; and

•third-party licensing fees. 

We expense research and development costs as incurred. 

We typically use our employee and infrastructure resources across our development programs, and as such, do not track all of our internal research and development expenses on a program-by-program basis. The following table summarizes our research and development expenses for the three months ended March 31, 2025 and 2024:

For the Three Months EndedMarch 31,(dollars in millions)20252024Program-specific external expense:Vepdegestrant (ARV-471) (*)$24.1 $19.1 ARV-1026.5 1.3 ARV-3932.6 1.2 Bavdegalutamide (ARV-110)1.1 1.6 Luxdegalutamide (ARV-766)— 3.6 Other programs2.6 0.1 Total program-specific external expense36.9 26.9 Non program-specific external expense13.9 16.1 Unallocated internal expenseCompensation and related personnel expense(including stock-based compensation)36.9 38.3 Other research and development expense3.1 3.0 Total unallocated internal expense40.0 41.3 Total research and development expense$90.8 $84.3 

(*)    Includes net reimbursement to and from Pfizer pursuant to the Vep