Arvinas, Inc. reported its financial results for the second quarter ended June 30, 2025, with cash, cash equivalents, and marketable securities totaling $861.2 million. This represents a decrease from $1,039.4 million as of December 31, 2024, primarily due to cash used in operations.
Revenue for the quarter was $22.4 million, a decrease from $76.5 million in Q2 2024, mainly due to decreased revenue from the Novartis License Agreement and the Pfizer Vepdegestrant Collaboration Agreement following the removal of Phase 3 combination trials. Research and development expenses decreased to $68.6 million from $93.7 million in Q2 2024, while general and administrative expenses also decreased to $25.3 million from $31.3 million.
Despite the revenue decline, Arvinas reaffirmed its cash runway guidance into the second half of 2028. The company highlighted significant pipeline progress, including the submission of a New Drug Application for vepdegestrant, presentation of ARV-102 data, preclinical data for ARV-393, and the initiation of a Phase 1 clinical trial for ARV-806.
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