Company: ARVN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001655759-25-000085
Chunk: 138

Company: ARVINAS, INC.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 138
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 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 the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and in Note 2, Summary of Accounting Pronouncements and 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 income (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.

18

The following table summarizes the reportable segment's financial information: Three Months EndedMarch 31,(dollars in millions)20252024Revenue$188.8 $25.3 Less:Research and development expenseVepdegestrant (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 Non program-specific external expense13.9 16.1 Compensation and related personnel expense(including stock-based compensation)36.9 38.3 Other research and development expense3.1 3.0 Total research and development expense90.8 84.3 General and administrative expense26.6 24.3 Income tax expense0.2 0.1 Plus:Interest income, net11.7 14.0 Segment net income (loss)$82.9 $(69.4)(*)    Includes net reimbursement to and from Pfizer pursuant to the Vepdegestrant (ARV-471) Collaboration Agreement which are accounted for pursuant to ASC 808 and are recorded as an offset or an increase to research and development expenses.During the three months ended March 31, 2025 and 2024, depreciation expense totaled $0.7 million and $1.2 million, respectively.

15. Subsequent Events

Reduction in ForceOn April 30, 2025, the Company's management, pursuant to authority