Arvinas Reports Revenue Decline to $22.4 Million in Q2 2025, Net Loss of $61.2 Million

Arvinas, Inc. reported a significant decline in revenue for the second quarter of 2025, generating $22.4 million compared to $76.5 million in the same period of 2024. This decrease of $54.1 million was primarily attributed to reduced revenue from the Novartis License Agreement and the Novartis Asset Agreement, which were completed by the end of 2024. Additionally, revenue from the Vepdegestrant (ARV-471) Collaboration Agreement with Pfizer decreased by $6.8 million due to the removal of two planned Phase 3 combination trials. For the first half of 2025, revenue increased to $211.2 million, up from $101.8 million in the prior year, largely due to changes in cost estimates related to the Vepdegestrant collaboration.

Operating expenses for the second quarter also decreased, with research and development expenses totaling $68.6 million, down from $93.7 million in 2024. This reduction was driven by lower external expenses and decreased personnel costs. General and administrative expenses fell to $25.3 million from $31.3 million, reflecting a decrease in personnel and infrastructure-related costs. Despite these reductions, the company reported a net loss of $61.2 million for the quarter, compared to a loss of $35.2 million in the previous year.

In terms of strategic developments, Arvinas has made significant changes to its clinical trial plans, particularly regarding vepdegestrant. The company has removed two planned Phase 3 combination trials from its development plan, which has led to a reassessment of its collaboration with Pfizer. The company is currently in discussions with Pfizer to revise their collaboration to ensure efficient market preparations for vepdegestrant, which is under review for FDA approval.

Operationally, Arvinas has undergone a workforce reduction of approximately 33% as part of a strategic restructuring aimed at streamlining operations and reducing costs. This decision is expected to yield annual operating cost savings of around $80 million. As of June 30, 2025, the company had cash, cash equivalents, and marketable securities totaling approximately $861.2 million, which it believes will fund its operations into the second half of 2028. However, the company continues to face challenges in achieving profitability and will need to secure additional funding to support ongoing and future clinical trials and operational expenses.