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Dec 31, 2019
Arvinas Q4 2019 Earnings Report
Arvinas reported its Q4 and full year results, highlighting clinical and corporate advancements, including initial clinical data for ARV-110 and ARV-471, and a public offering that generated $107.6 million in net proceeds.
Key Takeaways
Arvinas reported a net loss of $21.0 million for the fourth quarter of 2019, compared to a net loss of $16.1 million for the same period in 2018. Revenue for the quarter was $4.9 million, up from $3.4 million in the prior year. The company's cash, cash equivalents, and marketable securities totaled $280.9 million as of December 31, 2019.
Presented initial clinical data for ARV-110 and ARV-471, showing they were well-tolerated and safe for further development.
Closed a public offering generating $107.6 million in net proceeds.
Presented preclinical data demonstrating PROTAC® molecules degraded aggregates of human alpha-synuclein in primary rat neurons.
Appointed Laurie Smaldone Alsup, M.D., to the board of directors.
Revenue by Segment
Forward Guidance
Arvinas expects to share Phase 1 dose escalation clinical data for ARV-110 in Q2 2020 and for ARV-471 in the second half of 2020. The company also anticipates providing information about the advancement of additional programs in its preclinical pipeline in the second half of 2020, and believes its current cash, cash equivalents, and marketable securities will be sufficient to fund operations into 2022.
Positive Outlook
- Phase 1 dose escalation clinical data for ARV-110 expected in Q2 2020.
- Phase 1 dose escalation clinical data for ARV-471 expected in the second half of 2020.
- Information about additional preclinical programs expected in the second half of 2020.
- Cash, cash equivalents, and marketable securities expected to fund operations into 2022.
- ARV-110 and ARV-471 were well-tolerated and safe for further development.
Challenges Ahead
- Uncertainties regarding the successful conduct of Phase 1 clinical trials for ARV-110 and ARV-471.
- Risk of not completing clinical trials for other product candidates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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