ARVINAS, INC.

For the period ended Dec 31, 2025. Filed Feb 24, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 24, 2026

ARVN$6.92+2.4%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Operations and Comprehensive Loss

(dollars and shares in millions, except per share amounts)	Year Ended December 31,
Consolidated Statements of Operations	2025	2024	2023
Revenue	$262.6	$263.4	$78.5
Operating expenses:
Research and development	285.2	348.2	379.7
General and administrative	95.9	165.4	100.3
Total operating expenses	381.1	513.6	480.0
Loss from operations	(118.5)	(250.2)	(401.5)
Other income (expense)
Other expense, net	(0.4)	(2.9)	(1.2)
Interest income, net	38.4	54.8	38.8
Total other income	38.0	51.9	37.6
Net loss before income taxes and loss from equity method investment	(80.5)	(198.3)	(363.9)
Income tax expense	(0.3)	(0.6)	(0.9)
Loss from equity method investment	—	—	(2.5)
Net loss	$(80.8)	$(198.9)	$(367.3)
Net loss per common share
Basic and diluted	$(1.14)	$(2.77)	$(6.62)
Weighted-average common shares outstanding
Basic and diluted	70.9	71.9	55.5

(dollars in millions)	Year Ended December 31,
Consolidated Statements of Comprehensive Loss	2025	2024	2023
Net loss	$(80.8)	$(198.9)	$(367.3)
Other comprehensive loss:
Unrealized gain on available-for-sale securities	0.2	4.1	16.1
Comprehensive loss	$(80.6)	$(194.8)	$(351.2)

F - 5

ContentsView on SEC.gov

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