Company: ARVN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049527
Chunk: 220

Company: ARVINAS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 220
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2,593,637 shares of common stock in an “at-the-market offering” for aggregate gross proceeds of $65.6 million before fees and expenses;

•December 2020: completion of a follow-on offering in which we issued and sold 6,571,428 shares of common stock for aggregate gross proceeds of $460.0 million before fees and expenses;

•September 2021: issuance of 3,457,815 shares of common stock to Pfizer for aggregate gross proceeds of $350.0 million;

•July - September 2023: sale of 1,449,275 shares of common stock in an “at-the-market offering” for aggregate gross proceeds of $37.2 million before fees and expenses;

•November 2023: sale of 12,963,542 shares of common stock and pre-funded warrants to purchase 3,422,380 shares of common stock in a private placement for aggregate gross proceeds of $350.0 million before fees and expenses; and

•April 2024: sale of AR-V7 to Novartis under the Novartis Asset Agreement for $20.0 million. 

In November 2023, we amended and restated the Equity Distribution Agreement with Piper Sandler & Company and Cantor Fitzgerald & Co., pursuant to which we may offer and sell from time to time, through the agents, up to approximately $262.8 million of the common stock registered under our universal shelf registration statement pursuant to one or more “at-the-market" offerings. During the nine months ended September 30, 2025, no shares were issued under the amended and restated agreement.

Cash Flows 

Our cash, cash equivalents, and marketable securities totaled $787.6 million and $1.0 billion as of September 30, 2025 and December 31, 2024, respectively. We had an outstanding loan balance of $0.6 million and $0.8 million as of September 30, 2025 and December 31, 2024, respectively.

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Table o    f Contents

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

 For the Nine Months EndedSeptember 30,(dollars in millions)20252024$ changeNet cash used in operating activities$(243.4)$(175.2)$(68.2)Net cash provided by (used in) investing activities261.8 (64.2)326.0 Net cash (used