Arvinas, Inc. reported a net loss of $198.9 million for the full year ended December 31, 2024, following losses of $367.3 million in 2023. For the fourth quarter of 2024, the company reported revenue of $59.2 million, and a net loss of $63 cents per share, which beat analyst consensus estimates for loss per share.
Cash, cash equivalents, and marketable securities stood at $1,039.4 million as of December 31, 2024, a decrease of $227.1 million from December 31, 2023. Research and development expenses for the year decreased to $348.2 million from $379.7 million in 2023, while general and administrative expenses increased to $165.4 million from $100.3 million, primarily due to a $43.4 million loss on a lease termination.
The company's revenue for the full year 2024 increased to $263.4 million from $78.5 million in 2023, driven by $162.4 million from Novartis agreements and a $21.7 million increase from the Pfizer Vepdegestrant Collaboration Agreement. Arvinas believes its current cash resources are sufficient to fund planned operating expenses and capital expenditure requirements into 2027.
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