Arvinas Reports Second Quarter 2025 Financial Results and Provides Corporate Update

Core Insights - Arvinas, Inc. has made significant clinical and regulatory advancements, including the submission of a New Drug Application (NDA) for vepdegestrant, marking a milestone as the first PROTAC degrader to enter clinical trials and achieve a positive Phase 3 trial outcome [3][5] - The company reported a decrease in revenue for Q2 2025, primarily due to the completion of previous collaboration agreements, while maintaining a strong cash position to fund operations into the second half of 2028 [20][14] Clinical Developments - The NDA for vepdegestrant was submitted to the FDA for treating ESR1m, ER+/HER2- advanced or metastatic breast cancer, with pivotal trial results showing a 2.9-month improvement in median progression-free survival compared to fulvestrant [5][3] - Arvinas presented data from the Phase 1 clinical trial of ARV-102, demonstrating over 50% LRRK2 reduction in cerebrospinal fluid and over 90% reduction in peripheral blood mononuclear cells [10][6] - The company initiated a Phase 1 clinical trial for ARV-806 targeting KRAS G12D mutations in solid tumors [8][3] Financial Performance - For Q2 2025, Arvinas reported revenue of $22.4 million, a decrease from $76.5 million in Q2 2024, attributed to reduced collaboration revenue from Novartis and other agreements [20][14] - Research and development expenses were $68.6 million for the quarter, down from $93.7 million in the same period last year, reflecting a decrease in external expenses and personnel costs [15][14] - The company ended Q2 2025 with cash, cash equivalents, and marketable securities totaling $861.2 million, down from $1,039.4 million at the end of 2024 [14][20] Corporate Updates - John Houston, CEO and President of Arvinas, announced plans to retire, with the Board of Directors beginning a search for a new CEO while he will remain as Chairperson [11] - The company is preparing for upcoming milestones, including presenting patient-reported outcomes data from the VERITAC-2 trial at the European Society for Medical Oncology Congress in October 2025 [16][9]