ARVINAS, INC.

Listed Company

ARVNCIK 0001655759NasdaqAcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$262.60M

Net Income

$-80.80M

Total Assets

$717.90M

Equity

$433.90M

Shares Out

63.96M

Op. Cash Flow

$-273.80M

Business

ARVINAS, INC. is a clinical-stage biotechnology company developing PROTAC targeted protein degraders that harness the ubiquitin proteasome system to selectively remove disease-causing proteins. Its main offerings include discovery and development of PROTAC therapeutics and platform capabilities, with clinical candidates such as vepdegestrant (ER), ARV-393 (BCL6), ARV-102 (LRRK2) and preclinical programs including KRAS G12D. Key activities are organized across oncology (including hematology and immuno-oncology), neuroscience and a PROTAC Discovery Engine for discovery and optimization, alongside strategic collaborations and licensing. The company conducts global clinical trials, uses third-party manufacturers and pursues commercialization through direct U.S. efforts and partner-led global distribution (e.g., Pfizer, Genentech, Novartis).

Summary from filing dated 2025-02-11

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	263	263	79	131	54
Research and development	285	348	380	315	180
General and administrative	96	165	100	80	62
Total operating expenses	381	514	480	395	242
Loss from operations	−119	−250	−402	−263	−188
Other expense, net	−400,000	−3	−1	200,000	3
Interest income, net	38	55	39	12	2
Total other income	38	52	38	12	4
Net loss before income taxes and loss from equity method investment	−81	−198	−364	−251	−184
Income tax expense	−300,000	−600,000	−900,000	−21	0
Loss from equity method investment	0	0	−3	−11	−7
Net loss	−81	−199	−367	−283	−191
Net loss per common share - basic (in dollars per share)	−1.14	−2.77	−6.62	−5.31	−3.82
Net loss per common share - diluted (in dollars per share)	−1.14	−2.77	−6.62	−5.31	−3.82
Weighted-average common shares outstanding - basic (in shares)	71	72	56	53	50
Weighted-average common shares outstanding - diluted (in shares)	71	72	56	53	50
Unrealized gain on available-for-sale securities	200,000	4	16	−15	−5
Comprehensive loss	−81	−195	−351	−297	−196

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	143	101	312	81	108
Marketable securities	543	939	949	1,124	1,394
Accounts receivable	1	6	0	1	15
Other receivables	5	8	7	7	11
Prepaid expenses and other current assets	9	14	7	21	20
Total current assets	701	1,067	1,280	1,240	1,553
Property, equipment and leasehold improvements, net	5	7	12	13	13
Operating lease right of use assets	8	9	3	4	4
Collaboration contract asset and other assets	4	8	10	11	13
Total assets	718	1,091	1,305	1,269	1,582
Accounts payable and accrued liabilities	70	72	92	75	54
Deferred revenue	71	156	163	219	206
Current portion of operating lease liability	2	2	2	2	1
Total current liabilities	143	230	257	295	262
Deferred revenue	134	292	386	405	534
Long term debt	400,000	600,000	800,000	1	1
Operating lease liability	7	7	500,000	3	3
Total liabilities	284	530	645	704	800
Commitments and contingencies (Note 12)	—	—	—	—	—
Preferred stock, $0.001 par value, zero shares issued and outstanding as of December 31, 2025 and 2024, respectively	0	0	0	0	—
Common stock, $0.001 par value, 73.5 shares issued and 63.5 shares outstanding as of December 31, 2025, and 68.8 shares issued and outstanding as of December 31, 2024	100,000	100,000	100,000	100,000	0
Accumulated deficit	−1,612	−1,532	−1,333	−965	−683
Additional paid-in capital	2,137	2,092	1,996	1,549	1,469
Accumulated other comprehensive income	1	1	−3	−19	−5
Treasury Stock, at cost (10.0 and zero shares at December 31, 2025 and December 31, 2024, respectively)	−92	0	—	—	—
Total stockholders' equity	434	562	660	565	782
Total liabilities and stockholders' equity	718	1,091	1,305	1,269	1,582

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	3	5	5	6	5
Net accretion of bond discounts/premiums	−13	−22	−17	6	9
Loss on sale of marketable securities	0	0	900,000	400,000	200,000
Amortization of right-of-use assets	2	2	2	2	1
Amortization of collaboration contract asset	4	5	1	2	400,000
Net loss on disposal of property, equipment and leasehold improvements	0	3	0	0	—
Stock-based compensation	44	88	72	76	57
Accounts receivable	5	−6	1	14	−14
Other receivables	3	−800,000	−200,000	4	−3
Prepaid expenses and other assets	5	−7	14	−2	−14
Collaboration contract asset	0	−3	0	0	−13
Accounts payable and accrued liabilities	−2	−21	17	20	28
Operating lease liabilities	−2	−2	−2	−2	−1
Deferred revenue	−243	−101	−75	−117	696
Net cash used in operating activities	−274	−259	−348	−274	559
Purchase of marketable securities	−354	−652	−956	−886	−1,745
Maturities of marketable securities	731	644	1,104	1,077	429
Sale of marketable securities	33	45	59	59	7
Purchase of property, equipment and leasehold improvements	−2	−2	−3	−7	−5
Proceeds from disposal of property, equipment and leasehold improvements	0	100,000	0	0	—
Net cash provided by investing activities	408	35	204	243	−1,314
Repayments of long-term debt	−200,000	−400,000	0	0	0
Proceeds from issuance of common stock and pre-funded warrants	0	0	387	0	265
Payment of common stock offering costs	0	0	−17	0	−5
Repurchase of common shares, net	−92	0	0	—	—
Proceeds from exercise of stock options and issuance of ESPP shares	700,000	8	5	5	19
Net cash (used in) provided by financing activities	−91	8	375	5	279
Net increase (decrease) in cash, cash equivalents and restricted cash	42	−217	230	−26	−476
Purchases of property, equipment and leasehold improvements unpaid at period end	300,000	900,000	0	100,000	500,000

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro