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Sep 30, 2025
Arvinas Q2 2025 Earnings Report
Arvinas reported a Q3 2025 net loss with significantly reduced R&D and G&A expenses and lower collaboration revenue due to concluded agreements.
Key Takeaways
Arvinas posted a net loss of $35.1 million for Q3 2025, reflecting decreased collaboration revenue and reduced operating expenses as the company transitions development responsibilities to partners.
Q3 2025 revenue was $41.9 million, primarily from the Pfizer collaboration.
GAAP R&D expenses dropped to $64.7 million, down from $86.9 million in Q3 2024.
GAAP G&A expenses decreased sharply to $21.0 million from $75.8 million year-over-year.
Arvinas ended the quarter with $787.6 million in cash, cash equivalents, and marketable securities.
Revenue by Segment
Forward Guidance
Arvinas expects its current cash position to fund operations into the second half of 2028 while it advances early-stage clinical and preclinical assets.
Positive Outlook
- Strong cash position of $787.6 million to support pipeline development.
- Positive Phase 1 clinical data for ARV-102 in Parkinson’s disease patients.
- First preclinical data shared for ARV-027 showing disease-modifying potential in SBMA.
- ARV-806 demonstrated high potency and tumor regression in KRAS G12D models.
- FDA accepted NDA for vepdegestrant, with PDUFA date set for June 5, 2026.
Challenges Ahead
- Q3 revenue fell sharply from prior year due to concluded Novartis and Bayer collaborations.
- ARV-393 Phase 1 trial has not yet reached effective exposure levels.
- Decreased cash from operations and stock repurchases reduced liquidity.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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