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Mar 31, 2022
Arvinas Q1 2022 Earnings Report
Reported financial results for the first quarter ended March 31, 2022 and provided a corporate update.
Key Takeaways
Arvinas reported first quarter 2022 financial results, highlighting a productive quarter as the company prepares to initiate three planned pivotal clinical studies in the second half of 2022 for ARV-471 and bavdegalutamide.
Presented Phase 1 dose escalation data and interim data from the ongoing Phase 2 ARDENT expansion cohort with bavdegalutamide in metastatic castration-resistant prostate cancer (mCRPC) at the American Society of Clinical Oncology Genitourinary Cancers Symposium (ASCO GU).
Preparing to present data from the VERITAC Phase 2 expansion trial (200 mg and 500 mg) in the second half of 2022.
Preparing to discuss the potential accelerated approval path with the Food and Drug Administration (FDA) in Q2 2022 for Bavdegalutamide.
Initiate Phase 2 expansion trial in mCRPC for ARV-766 in the second half of 2022.
Forward Guidance
Arvinas is focused on advancing its clinical programs and has several milestones expected in 2022.
Positive Outlook
- Present data from the VERITAC Phase 2 expansion trial (200 mg and 500 mg) (2H 2022)
- Present safety data from the Phase 1b combination trial with palbociclib (2H 2022)
- Initiate two Phase 3 trials in patients with metastatic breast cancer (as monotherapy and in combination) (2H 2022)
- Initiate a Phase 1b combination trial with cyclin dependent kinase (CDK) inhibitors or other targeted therapies (2H 2022)
- Initiate a pivotal trial in mCRPC for patients with AR T878/H875 tumor mutations (2H 2022)
Challenges Ahead
- The company's net loss increased due to increased research and development expenses, general and administrative expenses, and income tax expense.
- Decrease in cash, cash equivalents, restricted cash and marketable securities was primarily related to cash used in operating activities and unrealized loss on marketable securities.
Historical Earnings Impact
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