Company: ARVN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049527
Chunk: 218

Company: ARVINAS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 218
---
 general and administrative expenses for the nine months ended September 30, 2025 totaled $55.9 million, compared to $103.1 million for the nine months ended September 30, 2024, excluding $0.3 million of restructuring related reversal of previously recognized expense for the nine months ended September 30, 2025, and $17.3 million and $28.2 million of non-cash stock-based compensation expense for the nine months ended September 30, 2025 and 2024, respectively. We define non-GAAP general and administrative expenses as GAAP general and administrative expenses excluding restructuring and stock-based compensation expense.

Other Income

Other income totaled $9.0 million for the three months ended September 30, 2025, compared to $11.7 million for the three months ended September 30, 2024. The decrease of $2.7 million was primarily due to a decrease in interest income on our marketable securities of $5.2 million, offset by a loss on the disposal of fixed assets of $2.5 million related the termination of our laboratory and office space lease with 101 College Street LLC in August 2024.

Other income totaled $30.6 million for the nine months ended September 30, 2025, compared to $39.2 million for the nine months ended September 30, 2024. The decrease of $8.6 million was primarily due to a decrease in interest income of $10.9 million on our marketable securities, offset by a loss on the disposal of fixed assets of $2.5 million related the termination of our laboratory and office space lease with 101 College Street LLC in August 2024.

Income Tax 

Income tax expense totaled $0.3 million for the three months ended September 30, 2025, compared to an income tax expense of $0.6 million for the three months ended September 30, 2024. The current and prior income tax totals were driven by the effect of equity compensation and the valuation allowance recorded against the full amount of our net deferred tax assets.

Income tax expense totaled $0.1 million for the nine months ended September 30, 2025, compared to an income tax expense of $1.0 million for the nine months ended September 30, 2024. The current and prior year income tax totals were driven by the effect