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Sep 30, 2020
Arvinas Q3 2020 Earnings Report
Arvinas reported financial results for the third quarter ended September 30, 2020 and provided a corporate update.
Key Takeaways
Arvinas reported a net loss of $30.8 million for the third quarter of 2020, compared to a net loss of $17.7 million for the same period in 2019. Research and development expenses increased to $30.0 million, and general and administrative expenses were $9.3 million. Cash, cash equivalents, and marketable securities totaled $248.6 million as of September 30, 2020.
First patient dosed in Phase 2 dose expansion cohort of ARV-110 trial.
Dose escalation for Phase 1/2 clinical trials of ARV-110 and ARV-471 continues; program updates planned for December 2020.
Arvinas and Pfizer entered a collaboration and supply agreement; initiation of Phase 1b combination of ARV-471 and Ibrance® expected in the fourth quarter of 2020.
Arvinas expects its cash, cash equivalents, and marketable securities will be sufficient to fund its planned operating expenses and capital expenditures into 2022.
Revenue by Segment
Forward Guidance
Arvinas anticipates several milestones in 2021, including initiating Phase 1b investigations of ARV-110, sharing interim data from the Phase 2 dose expansion trial of ARV-110, initiating a Phase 2 dose expansion of ARV-471, sharing data from the Phase 1b cohort expansion of ARV-471, and filing an IND application for ARV-766.
Positive Outlook
- Initiate the first of potentially two Phase 1b investigations of ARV-110 in combination with standard of care agents for mCRPC in 2021.
- Share interim data from the Phase 2 dose expansion trial of ARV-110 in 2021.
- Initiate a Phase 2 dose expansion of ARV-471 in 2021.
- Share data from the Phase 1b cohort expansion of ARV-471 in combination with Ibrance® in the second half of 2021.
- File an investigational new drug (IND) application for ARV-766, an androgen receptor degrader, in the first half of 2021.
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