Company: ARVN
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0001655759-25-000016
Chunk: 49

Company: ARVINAS, INC.
Filing Date: 2025-02-11
Form: 10-K
Item: Item 16
Chunk 49
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 common shares outstanding - basic and diluted71.9 55.5 53.2 Net loss per common share - basic and diluted$(2.77)$(6.62)$(5.31)The weighted-average number of common shares included in the computation of basic and diluted net loss per common share gives effect to pre-funded warrants which allows holders to acquire a specified number of common shares at a nominal exercise price of $0.001 per share and are classified as equity. The shares underlying the pre-funded warrants are exercisable for little or no consideration and therefore the underlying shares are considered outstanding at the issuance of the pre-funded warrants for purposes of calculating the weighted-average number of common shares outstanding in basic and diluted net loss per share for common share. See Note 9, Equity.

F - 27

The Company reported net losses for each of the years ended December 31, 2024, 2023 and 2022, and therefore excluded all stock options and RSUs from the computation of diluted net loss per common share as their inclusion would have had an anti-dilutive effect, as summarized below:Year ended December 31,(shares in millions)202420232022Stock options7.9 7.9 6.8 RSUs2.3 1.2 0.5 10.2 9.1 7.3 

14. Segment Information 

The Company's operations are organized into one operating and reportable segment focused on the discovery, development and commercialization of therapies that degrade disease-causing proteins. The segment develops protein degradation therapies designed to harness the body's natural protein disposal system to selectively and efficiently degrade and remove disease-causing protein through the Company's PROTAC (PROteolysis TArgeting Chimera) protein degrader platform. The Company is progressing multiple product candidates through clinical development programs, including vepdegestrant, targeting the estrogen receptor for patients with locally advanced or metastatic ER+/HER2- breast cancer; ARV-393, targeting BCL6 for relapsed/refractory non-Hodgkin Lymphoma; and ARV-102, targeting LRRK2 for neurodegenerative disorders. The Company's tangible assets are held in the United States and all of the Company's revenue has been generated in the United States. The Company manages all business activities on a consolidated basis. The Company's chief operating decision maker is the Chief Executive Officer. The operating segment's revenue is primarily generated through