Company: ARVN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049527
Chunk: 150

Company: ARVINAS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 150
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$48.9 Research and development expenses(64.7)(86.9)22.2 (224.1)(264.9)40.8 General and administrative expenses(21.0)(75.8)54.8 (72.9)(131.3)58.4 Other income9.0 11.7 (2.7)30.6 39.2 (8.6)Income tax expense(0.3)(0.6)0.3 (0.1)(1.0)0.9 Net loss$(35.1)$(49.2)$14.1 $(13.4)$(153.8)$140.4 

Reconciliation of GAAP and Non-GAAP InformationFor the Three Months EndedSeptember 30,For the Nine Months EndedSeptember 30,(dollars in millions)2025202420252024Research and development reconciliationGAAP research and development expenses$64.7 $86.9 $224.1 $264.9 Less: restructuring expense0.4 — 1.0 — Less: stock-based compensation expense (*)7.4 13.7 27.4 36.8 Non-GAAP research and development expenses$56.9 $73.2 $195.7 $228.1 General and administrative reconciliationGAAP general and administrative expenses$21.0 $75.8 $72.9 $131.3 Less: restructuring expense(0.6)— (0.3)— Less: stock-based compensation expense (*)7.0 11.0 17.3 28.2 Non-GAAP general and administrative expenses$14.6 $64.8 $55.9 $103.1 

(*)    Excludes restructuring related stock-based compensation. See Note 14, Restructuring Activity, to the unaudited condensed consolidated financial statements for further details. 

Revenue

Revenue for the three months ended September 30, 2025 totaled $41.9 million, compared to $102.4 million for the three months ended September 30, 2024. The decrease of $60.5 million was primarily due to $76.7 million of decreased revenue from the Novartis License Agreement and the Novartis Asset Agreement, both of which were entered into during the three months ended