Company: ARVN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049527
Chunk: 116

Company: ARVINAS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 116
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 follows:For the Three Months EndedSeptember 30,For the Nine Months EndedSeptember 30,(dollars and shares in millions, except per share amounts)2025202420252024Net loss$(35.1)$(49.2)$(13.4)$(153.8)Weighted average common shares outstanding - basic and diluted73.2 72.1 72.9 71.9 Loss per common share Basic and diluted$(0.48)$(0.68)$(0.18)$(2.14)Treasury shares are not considered outstanding and are excluded from the calculation of basic and diluted loss per common share.The weighted average number of common shares included in the computation of basic and diluted net loss per common share for the three and nine months ended September 30, 2024 gives effect to pre-funded warrants issued in November 2023 which allowed holders to acquire up 3,422,380 shares of common stock at a nominal exercise price of $0.001 per share and were classified as equity. The shares underlying the pre-funded warrants were exercisable for little or no consideration and therefore the underlying shares were considered outstanding at the issuance of the pre-funded warrants for purposes of calculating the weighted average number of common shares outstanding in basic and diluted net loss per common share. As of September 30, 2025, all outstanding pre-funded warrants had been cashless exercised for no consideration and the Company issued 3,422,186 shares of common stock to the holders.

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Table o    f Contents

The Company reported net losses for each of the three and nine months ended September 30, 2025 and therefore excluded all stock options and RSUs from the calculation of diluted net loss per common share as their inclusion would have had an anti-dilutive effect, as summarized below:For the Three and Nine Months EndedSeptember 30,20252024Stock options8.7 8.0 RSUs3.8 2.4 12.5 10.4 

12. Equity Method Investments

In July 2019, the Company and Bayer CropScience LP (“Bayer LP”) formed Oerth Bio LLC ("Oerth Bio"), a joint venture to research, develop and commercialize PROTAC targeted protein degraders for applications in the field of agriculture. The Company and Bayer LP each held an initial ownership interest in Oerth Bio of 50%. A 15% ownership interest of Oerth Bio was reserved for