ARVINAS INC
For the period ended Dec 31, 2024. Filed Feb 11, 2025.
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FY2024 · Filed Feb 11, 2025
ARVN$6.92+2.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| (dollars in millions) | 2024 | 2023 | 2022 |
| Cash flows from operating activities: | |||
| Net loss | $(198.9) | $(367.3) | $(282.5) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 4.6 | 4.8 | 6.3 |
| Net accretion of bond discounts/premiums | (21.8) | (16.6) | 5.7 |
| Loss on sale of marketable securities | — | 0.9 | 0.4 |
| Amortization of right-of-use assets | 2.0 | 1.9 | 1.9 |
| Amortization of collaboration contract asset | 4.6 | 1.3 | 1.8 |
| Net loss on disposal of property, equipment and leasehold improvements | 2.6 | — | — |
| Stock-based compensation | 88.2 | 71.6 | 75.5 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (5.7) | 1.0 | 14.0 |
| Other receivables | (0.8) | (0.2) | 3.7 |
| Prepaid expenses and other assets | (7.0) | 14.1 | (1.8) |
| Collaboration contract asset | (3.0) | — | — |
| Accounts payable and accrued liabilities | (21.2) | 17.3 | 20.2 |
| Operating lease liabilities | (1.9) | (2.0) | (1.9) |
| Deferred revenue | (101.0) | (74.6) | (116.8) |
| Net cash used in operating activities | (259.3) | (347.8) | (273.5) |
| Cash flows from investing activities: | |||
| Purchase of marketable securities | (652.1) | (956.3) | (886.4) |
| Maturities of marketable securities | 644.0 | 1,103.9 | 1,076.9 |
| Sale of marketable securities | 44.5 | 58.8 | 59.1 |
| Purchase of property, equipment and leasehold improvements | (1.8) | (2.9) | (6.8) |
| Proceeds from disposal of property, equipment and leasehold improvements | 0.1 | — | — |
| Net cash provided by investing activities | 34.7 | 203.5 | 242.8 |
| Cash flows from financing activities: | |||
| Repayments of long-term debt | (0.4) | — | — |
| Proceeds from issuance of common stock and pre-funded warrants | — | 387.2 | — |
| Payment of common stock offering costs | — | (17.0) | — |
| Proceeds from exercise of stock options and issuance of ESPP shares | 8.3 | 4.5 | 4.7 |
| Net cash provided by financing activities | 7.9 | 374.7 | 4.7 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (216.7) | 230.4 | (26.0) |
| Cash, cash equivalents and restricted cash, beginning of the period | 317.2 | 86.8 | 112.8 |
| Cash, cash equivalents and restricted cash, end of the period | $100.5 | $317.2 | $86.8 |
| Supplemental disclosure of cash flow information: | |||
| Purchases of property, equipment and leasehold improvements unpaid at period end | $0.9 | $— | $0.1 |
| Cash paid for taxes | $2.3 | $11.1 | $11.1 |
F - 7
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