Company: ARVN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001655759-25-000139
Chunk: 131

Company: ARVINAS, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 131
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 The decrease of $18.6 million was primarily due to a decrease in external expenses of $10.5 million and a decrease in compensation and related personnel expenses of $9.3 million, which are not allocated by program. External expenses include (i) program-specific expenses, which decreased by $5.9 million, primarily driven by decreases in our luxdegalutamide (ARV-766), vepdegestrant (ARV-471) and bavdegalutamide (ARV-110) programs of $13.2 million, $4.9 million and $2.1 million, respectively, partially offset by increases in our ARV-102, ARV-806, ARV-393 and other programs of $7.3 million, $2.3 million, $2.2 million and $2.5 million, respectively, and (ii) our non-program specific expenses, which decreased by $4.6 million.

Non-GAAP research and development expenses for the six months ended June 30, 2025 totaled $138.8 million, compared to $155.0 million for the six months ended June 30, 2024, excluding $0.6 million of restructuring expense for the six months ended June 30, 2025, and $20.0 million and $23.0 million of non-cash stock-based compensation expense for the six months ended June 30, 2025 and 2024, respectively. We define non-GAAP research and development expenses as GAAP research and development expenses excluding restructuring and stock-based compensation expense.

General and Administrative Expenses 

General and administrative expenses totaled $25.3 million for the three months ended June 30, 2025, compared to $31.3 million for the three months ended June 30, 2024. The decrease of $6.0 million was primarily due to a decrease in personnel and infrastructure related costs of $4.8 million and professional fees of $2.2 million, partially offset by an increase in costs related to developing our commercial operations of $1.1 million.

Non-GAAP general and administrative expenses for the three months ended June 30, 2025 totaled $18.1 million, compared to $20.4 million for the three months ended June 30, 2024, excluding $0.4 million of restructuring