Company: ARVN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001655759-25-000085
Chunk: 107

Company: ARVINAS, INC.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 107
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 track all of our internal research and development expenses on a program-by-program basis. The following table summarizes our research and development expenses for the three months ended March 31, 2025 and 2024:

For the Three Months EndedMarch 31,(dollars in millions)20252024Program-specific external expense:Vepdegestrant (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 Total program-specific external expense36.9 26.9 Non program-specific external expense13.9 16.1 Unallocated internal expenseCompensation and related personnel expense(including stock-based compensation)36.9 38.3 Other research and development expense3.1 3.0 Total unallocated internal expense40.0 41.3 Total research and development expense$90.8 $84.3 

(*)    Includes net reimbursement to and from Pfizer pursuant to the Vepdegestrant (ARV-471) Collaboration Agreement.

Research and development activities are central to our business model. We expect that our research and development expenses will continue to increase substantially for the foreseeable future as we continue to conduct our ongoing clinical trials of vepdegestrant, ARV-102 and ARV-393 and continue to discover and 

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develop additional product candidates. Research and development expenses related to vepdegestrant are shared equally with Pfizer since July 22, 2021, the effective date of the Vepdegestrant (ARV-471) Collaboration Agreement. We may receive reimbursement from, or make payments to, Pfizer to satisfy the cost sharing requirements. These payments are accounted for pursuant to ASC 808, Collaborative Arrangements, which are recorded as an offset or an increase to research and development expenses.

We cannot determine with certainty the duration and costs of ongoing and future clinical trials of vepdegestrant, ARV-102 and ARV-393, unexpected costs of planned clinical trials of ARV-806, or any other product candidate we may develop or if, when, or to what extent we will generate revenue from the commercialization and sale of any product candidate for