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Sep 30, 2024
Arvinas Q3 2024 Earnings Report
Arvinas reported financial results for Q3 2024 and provided a corporate update.
Key Takeaways
Arvinas reported revenue of $102.4 million for the quarter ended September 30, 2024. Cash, cash equivalents and marketable securities were $1,121.6 million as of September 30, 2024. The company is on track to report topline data from Phase 3 VERITAC-2 trial in 4Q24 or 1Q25.
On track to report topline data from Phase 3 VERITAC-2 trial in 4Q24 or 1Q25
Initial clinical data from Phase 1/2 TACTIVE-U sub-study of abemaciclib in combination with vepdegestrant to be presented at San Antonio Breast Cancer Symposium in December 2024
Recently presented new preclinical data for the PROTAC LRRK2 degrader ARV-102 demonstrating that LRRK2 degradation affects biomarkers in the CSF
$1.1 billion in cash, cash equivalents and marketable securities as of Sept. 30, 2024
Revenue by Segment
Forward Guidance
Arvinas believes its cash, cash equivalents, and marketable securities as of September 30, 2024, is sufficient to fund planned operating expenses and capital expenditure requirements into 2027.
Positive Outlook
- Complete enrollment (4Q24) and announce topline data (4Q24/1Q25) for the VERITAC-2 Phase 3 monotherapy clinical trial in patients with metastatic breast cancer.
- Present initial safety and pharmacokinetic data from the TACTIVE-U sub-study (NCT05548127) of abemaciclib in combination with vepdegestrant at the San Antonio Breast Cancer Symposium (SABCS) in December 2024.
- Present data from the Phase 1 healthy volunteer pharmacokinetic trial of vepdegestrant in combination with midazolam to assess potential for drug-drug interaction at SABCS in December 2024 (NCT06256510).
- Continue enrollment of the ongoing Phase 1b/2 combination umbrella trial evaluating combinations of vepdegestrant with abemaciclib, ribociclib, or samuraciclib (TACTIVE-U; ClinicalTrials.gov Identifiers: NCT05548127, NCT05573555, and NCT06125522).
- Evaluate data from the study lead-in of the VERITAC-3 Phase 3 trial (NCT05909397) in patients with ER+/HER2- locally advanced or metastatic breast cancer (2H24).
Challenges Ahead
- Complete enrollment in the ongoing multiple ascending dose portion of a Phase 1 trial evaluating ARV-102 in healthy volunteers
Historical Earnings Impact
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Avg. Return Before/After Earnings
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