Arvinas, Inc. Files Q2 2024 Quarterly Report

Ticker: ARVN · Form: 10-Q · Filed: Jul 30, 2024 · CIK: 1655759

Arvinas, Inc. 10-Q Filing Summary
FieldDetail
CompanyArvinas, Inc. (ARVN)
Form Type10-Q
Filed DateJul 30, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$0.001
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, quarterly-report, sec-filing

Related Tickers: ARVN

TL;DR

ARVN filed its 10-Q for Q2 2024. Check financials.

AI Summary

Arvinas, Inc. filed its quarterly report for the period ended June 30, 2024. The company, incorporated in Delaware with its principal executive offices in New Haven, Connecticut, is registered under file number 001-38672. Its common stock trades on The Nasdaq Stock Market LLC under the symbol ARVN.

Why It Matters

This filing provides investors with an update on Arvinas, Inc.'s financial and operational status for the second quarter of 2024, crucial for assessing the company's performance and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly filing and does not contain immediate, high-impact news.

Key Players & Entities

  • Arvinas, Inc. (company) — Registrant
  • June 30, 2024 (date) — Quarterly period end date
  • 001-38672 (other) — Commission File Number
  • Delaware (location) — State of incorporation
  • New Haven, Connecticut (location) — Address of principal executive offices
  • ARVN (ticker) — Trading Symbol
  • The Nasdaq Stock Market LLC (company) — Exchange where common stock is registered

FAQ

What is the primary purpose of this Form 10-Q filing?

The Form 10-Q is a quarterly report filed by Arvinas, Inc. pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, for the quarterly period ended June 30, 2024.

What is Arvinas, Inc.'s Commission File Number?

Arvinas, Inc.'s Commission File Number is 001-38672.

Where are Arvinas, Inc.'s principal executive offices located?

Arvinas, Inc.'s principal executive offices are located at 5 Science Park, 395 Winchester Ave., New Haven, Connecticut 06511.

On which stock exchange is Arvinas, Inc.'s common stock traded?

Arvinas, Inc.'s common stock is traded on The Nasdaq Stock Market LLC.

What is the trading symbol for Arvinas, Inc.'s common stock?

The trading symbol for Arvinas, Inc.'s common stock is ARVN.

Filing Stats: 4,567 words · 18 min read · ~15 pages · Grade level 9.9 · Accepted 2024-07-30 17:24:03

Key Financial Figures

  • $0.001 — ich registered Common stock, par value $0.001 per share ARVN The Nasdaq Stock Market

Filing Documents

Financial Statements (Unaudited)

Financial Statements (Unaudited) 2 Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Operations and Comprehensive Loss 3 Condensed Consolidated Statements of Changes in Stockholders' Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 34 PART II. OTHER INFORMATION 36 Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 5. Other Information 37 Item 6. Exhibits 38

Signatures

Signatures 39 i Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this Quarterly Report on Form 10-Q, including statements regarding our strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management, are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "target," "potential," "goals," "will," "would," "could," "should," "continue" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements in this Quarterly Report on Form 10-Q include, among other things, statements about: the initiation, timing, progress and results of our current and any future clinical trials of vepdegestrant, ARV-102 and ARV-393 and current trials of ARV-766, which we are transitioning to Novartis Pharma AG, and bavdegalutamide (ARV-110), including statements regarding the period during which the results of the clinical trials will become available; the timing of, and our ability to obtain, marketing approval of our product candidates and the ability of our product candidates to meet existing or future regulatory standards; the potential receipt of payments based on achievement of milestones under our collaborations, including our collaboration with Pfizer Inc. entered into in July 2021; potential receipt of payments based on the achievement of milestones related to ARV-766 and future royalties under our license agreement with Novartis Pharma AG; our plans to pursue research and development of other product candidates; the potential advantages of our platform technology and our product

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. ARVINAS, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (unaudited) (dollars and shares in millions, except per share amounts) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 154.8 $ 311.7 Restricted cash 5.5 5.5 Marketable securities 1,073.9 949.3 Other receivables 10.0 7.2 Prepaid expenses and other current assets 12.5 6.5 Total current assets 1,256.7 1,280.2 Property, equipment and leasehold improvements, net 9.8 11.5 Operating lease right of use assets 1.5 2.5 Collaboration contract asset and other assets 11.6 10.4 Total assets $ 1,279.6 $ 1,304.6 Liabilities and stockholders' equity Current liabilities: Accounts payable and accrued liabilities $ 78.1 $ 92.2 Deferred revenue 267.9 163.0 Current portion of operating lease liabilities 1.2 1.9 Total current liabilities 347.2 257.1 Deferred revenue 331.3 386.2 Long term debt 0.7 0.8 Operating lease liabilities 0.2 0.5 Total liabilities 679.4 644.6 Commitments and Contingencies (Note 13) Stockholders' equity: Preferred stock, $ 0.001 par value, zero shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively — — Common stock, $ 0.001 par value; 68.6 and 68.0 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 0.1 0.1 Accumulated deficit ( 1,437.3 ) ( 1,332.7 ) Additional paid-in capital 2,041.2 1,995.7 Accumulated other comprehensive loss ( 3.8 ) ( 3.1 ) Total stockholders' equity 600.2 660.0 Total liabilities and stockholders' equity $ 1,279.6 $ 1,304.6 See accompanying notes to the condensed consolidated financial statements 2 Table of Contents ARVINAS, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) (dollars and shares in millions, except per share amounts) For the Three Months Ended June 30, For the Six Months Ended June 30, Consolidated Statements of Operations 2024 2023

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