Company: ARVN
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0001655759-25-000016
Chunk: 50

Company: ARVINAS, INC.
Filing Date: 2025-02-11
Form: 10-K
Item: Item 16
Chunk 50
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 research collaborations and licensing arrangements with pharmaceutical partners. The terms of these agreements contain multiple goods and services which may include (i) licenses, (ii) research and development activities, and (iii) participation in joint research and development steering committees. The terms of these agreements may include non-refundable, upfront license or option fees, payments for research and development activities, payments upon the achievement of certain milestones and royalty payments based on product sales derived from the collaboration. Revenue is recognized ratably over the Company’s expected performance period under each respective arrangement. The Company also generated revenue through the sale of assets based on fair value. The Company does not have intra-entity sales or transfers.The accounting policies of the operating segment are the same as those described in Note 2, Summary of Significant Accounting Policies. The chief operating decision maker evaluates the performance of the operating segment and allocates resources based on net income/ loss that also is reported on the consolidated income statement as net loss. The measure of the operating segment assets is reported on the consolidated balance sheet as total assets.The chief operating decision maker uses net loss to monitor budget versus actual results and to analyze cash flows in assessing performance of the segment and allocating resources.

F - 28

The following table summarizes the reportable segment's financial information: Years Ended December 31,(dollars in millions)202420232022Revenue$263.4 $78.5 $131.4 Less:Research and development expenseProgram-specific external expense:Vepdegestrant (ARV-471) (*)76.9 104.8 72.8 Luxdegalutamide (ARV-766)19.7 24.2 7.0 ARV-10213.0 2.3 — Bavdegalutamide (ARV-110)8.5 26.6 36.7 ARV-3936.8 1.4 — Other programs2.3 — 1.8 Non program-specific external expense62.8 72.4 64.3 Compensation and related personnel expense(including share-based compensation)145.4 134.2 111.4 Other research and development expense12.8 13.8 21.0 Total research and development expense348.2 379.7 315.0 General and administrative expense165.4 100.3 79.6 Other segment expense, net (**)2.9