Company: ARVN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001655759-25-000085
Chunk: 162

Company: ARVINAS, INC.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 162
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 March 31, 2025 and December 31, 2024, respectively. We had an outstanding loan balance of $0.7 million and $0.8 million as of March 31, 2025 and December 31, 2024, respectively.

The following table summarizes our sources and uses of cash for the period presented: 

 For the Three Months EndedMarch 31,(dollars in millions)20252024$ changeNet cash used in operating activities$(88.9)$(97.5)$8.6 Net cash provided by (used in) by investing activities69.5 (127.8)197.3 Net cash (used in) provided by financing activities(0.1)1.6 (1.7)Net decrease in cash, cash equivalents and restricted cash$(19.5)$(223.7)$204.2 

Operating Activities

Net cash used in operating activities for the three months ended March 31, 2025 decreased by $8.6 million, compared with the three months ended March 31, 2024, primarily due to an increase in our net income of $152.3 million, as well as changes in accounts payable and accrued liabilities of $14.9 million, accounts receivable of $5.3 million, and an increase in non-cash charges of $0.6 million, partially offset by a decrease in 

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deferred revenue of $163.6 million driven by changes in total Vepdegestrant (ARV-471) Collaboration Agreement program cost estimates resulting from the removal of two Phase 3 combination trials from the development plan. The change in non-cash charges was primarily due to an increase in the amortization of costs to obtain a contract of $2.9 million related to the changes in total Vepdegestrant (ARV-471) Collaboration Agreement noted above and net accretion of bond discounts/premiums of $1.7 million, partially offset by a decrease in stock-based compensation of $3.6 million.

Investing Activities

Net cash from investing activities for the three months ended March 31, 2025 increased by $197.3 million, compared with the three months ended March 31, 2024, primarily due to a net increase in maturities over a net decrease in purchases of marketable securities of $197.6 million, partially offset by an increase in purchases of property and equipment of $0.3 million