Company: ARVN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049527
Chunk: 109

Company: ARVINAS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 109
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 into a Seventh Amendment and an Eighth Amendment, and in February 2025, the Company entered into a Ninth Amendment to its lease (collectively the “Building 5 Lease Amendments") with Science Park Development Corporation for certain premises in New Haven, Connecticut (the “Building 5 Premises”). The Building 5 Lease Amendments extended the term of the original lease to December 31, 2029, and expanded the Building 5 Premises to include approximately 10,900 square feet of additional laboratory and office space in the first quarter of 2025, resulting in an increase in the Company's ROU assets of $1.5 million.

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Table o    f Contents

Maturities of operating lease liabilities as of September 30, 2025, were as follows:(dollars in millions)Remainder of 2025$0.6 20262.3 20272.4 20282.5 20292.6 Total lease payments10.4 Less: imputed interest(1.5)Total$8.9 

7. Accounts Payable and Accrued Liabilities 

Accounts payable and accrued liabilities consisted of the following:(dollars in millions)September 30,2025December 31,2024Accounts payable$18.0 $13.4 Accrued liabilitiesResearch and development expenses16.6 25.9 Employee expenses12.9 22.4 Income taxes3.8 3.2 General and administrative and commercial expenses3.2 5.1 Professional fees1.0 1.8 Total accounts payable and accrued liabilities$55.5 $71.8 

8. Long-Term Debt

Debt obligations consisted of the following:(dollars in millions)Maturity DateInterest RateSeptember 30,2025December 31,20242018 Assistance Agreement Debt09/283.25%$0.6 $0.8 Less: current installments(0.2)(0.2)Total long-term debt$0.4 $0.6 In June 2018, the Company entered into an assistance agreement with the State of Connecticut (the "2018 Assistance Agreement") to provide funding for the expansion and renovation of laboratory and office space. The Company borrowed $2.0 million under the 2018 Assistance Agreement in September 2018, of which $1.0 million was forgiven upon meeting certain employment conditions.