Company: ARVN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001655759-25-000085
Chunk: 159

Company: ARVINAS, INC.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 159
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 million, primarily driven by increases in our ARV-102, vepdegestrant (ARV-471), ARV-393 and other programs of $5.2 million, $5.0 million, $1.4 million and $2.5 million, respectively, partially offset by decreases in our luxdegalutamide (ARV-766) and bavdegalutamide (ARV-110) programs of $3.6 million and $0.5 million, respectively, and (ii) our non-program specific expenses, which decreased by $2.2 million. 

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Non-GAAP research and development expenses for the three months ended March 31, 2025 totaled $79.3 million, compared to $71.9 million for the three months ended March 31, 2024, excluding $11.5 million and $12.4 million of non-cash stock-based compensation expense for the three months ended March 31, 2025 and 2024, respectively. We define non-GAAP research and development expenses as GAAP research and development expenses excluding stock-based compensation expense.

General and Administrative Expenses 

General and administrative expenses totaled $26.6 million for the three months ended March 31, 2025, compared to $24.3 million for the three months ended March 31, 2024. The increase of $2.3 million was primarily due to an increase in professional fees of $2.4 million, inclusive of an increase in the amortization of costs to obtain a contract of $2.6 million related to changes in total Vepdegestrant (ARV-471) Collaboration Agreement program cost estimates resulting from the removal of two Phase 3 combination trials from the development plan and an increase in costs related to developing our commercial operations of $2.3 million, partially offset by a decrease in personnel and infrastructure related costs of $2.4 million.

Non-GAAP general and administrative expenses for the three months ended March 31, 2025 totaled $23.1 million, compared to $18.0 million for the three months ended March 31, 2024, excluding $3.5 million and $6.3 million of non-cash stock-based compensation expense for the three months ended March 31, 2025 and 2024, respectively. We define non-GAAP general and