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.
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.
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