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Arvinas, Inc., a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company develops proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body's own natural protein disposal system to degrade and remove disease-causing proteins. It is also developing clinical development programs , including ARV-102, a leucine-rich repeat kinase 2 (LRRK2) protein for the treatment of neurodegenerative diseases, such as Parkinson's disease and progressive supranuclear palsy; ARV-806, a Kirsten rat sarcoma, G12D protein for the treatment of cancers with the G12D mutation, comprising pancreatic, colorectal, and non-small cell lung cancer; ARV-393, a B-cell lymphoma 6 protein for the treatment of relapsed/refractory non-Hodgkin lymphoma (NHL); ARV-027, a polyglutamine-expanded androgen receptor in skeletal muscle; and vepdegestrant, an estrogen receptor for the treatment of locally advanced or metastatic ER+/HER2- breast cancer. In addition, the company develops Bavdegalutamide (ARV-110) and Luxdegalutamide (ARV-766), investigational orally bioavailable PROTAC protein degraders for the treatment of men with metastatic castration-resistant prostate cancer. It has collaborations with Pfizer Inc., Genentech, Inc., F. Hoffman-La Roche Ltd., Carrick Therapeutics Limited, and Bayer AG. The company was founded in 2013 and is based in New Haven, Connecticut.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $263M | $-113M | $-81M | $-276M | -18.6% | -0.3% | -59.4% |
| 2024 | $263M | $-244M | $-199M | $-261M | -35.4% | 235.5% | -45.8% |
| 2023 | $79M | $-395M | $-367M | $-351M | -55.7% | -40.3% | 30.0% |
| 2022 | $131M | $-255M | $-283M | $-280M | -50.0% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 131.40 | 78.50 | 263.40 | 262.60 |
| Operating Revenue | - | 131.40 | 78.50 | 263.40 | 262.60 |
| Operating Expense | - | 394.60 | 480 | 513.60 | 381.10 |
| Research And Development | - | 315 | 379.70 | 348.20 | 285.20 |
| Selling General And Administration | - | 79.60 | 100.30 | 165.40 | 95.90 |
| Total Expenses | - | 394.60 | 480 | 513.60 | 381.10 |
| Operating Income | - | -263.20 | -401.50 | -250.20 | -118.50 |
| Total Operating Income As Reported | - | -263.20 | -401.50 | -250.20 | -118.50 |
| EBITDA | - | -255 | -394.80 | -243.60 | -113.30 |
| Normalized EBITDA | - | -255 | -394.80 | -243.60 | -113.30 |
| EBIT | - | -263.20 | -401.50 | -250.20 | -118.50 |
| Interest Income | - | 12 | 38.80 | 54.80 | 38.40 |
| Interest Expense | 0.10 | - | - | - | - |
| Net Interest Income | - | 12 | 38.80 | 54.80 | 38.40 |
| Other Non Operating Income Expenses | - | 0.20 | -1.20 | -2.90 | -0.40 |
| Other Income Expense | - | 0.20 | -1.20 | -2.90 | -0.40 |
| Interest Income Non Operating | - | 12 | 38.80 | 54.80 | 38.40 |
| Interest Expense Non Operating | 0.10 | - | - | - | - |
| Net Non Operating Interest Income Expense | - | 12 | 38.80 | 54.80 | 38.40 |
| Pretax Income | - | -251 | -363.90 | -198.30 | -80.50 |
| Tax Provision | - | 20.90 | 0.90 | 0.60 | 0.30 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -282.50 | -367.30 | -198.90 | -80.80 |
| Net Income From Continuing And Discontinued Operation | - | -282.50 | -367.30 | -198.90 | -80.80 |
| Net Income From Continuing Operation Net Minority Interest | - | -282.50 | -367.30 | -198.90 | -80.80 |
| Net Income | - | -282.50 | -367.30 | -198.90 | -80.80 |
| Net Income Common Stockholders | - | -282.50 | -367.30 | -198.90 | -80.80 |
| Net Income Including Noncontrolling Interests | - | -282.50 | -367.30 | -198.90 | -80.80 |
| Normalized Income | - | -282.50 | -367.30 | -198.90 | -80.80 |
| Diluted NI Availto Com Stockholders | - | -282.50 | -367.30 | -198.90 | -80.80 |
| Basic Average Shares | 50 | 53.20 | 55.50 | 71.90 | - |
| Diluted Average Shares | 50 | 53.20 | 55.50 | 71.90 | - |
| Reconciled Depreciation | - | 8.20 | 6.70 | 6.60 | 5.20 |
| Earnings From Equity Interest Net Of Tax | - | -10.60 | -2.50 | 0 | 0 |
| General And Administrative Expense | - | 79.60 | 100.30 | 165.40 | 95.90 |
| Other Gand A | - | 79.60 | 100.30 | 165.40 | 95.90 |
| Earnings From Equity Interest | 0 | - | - | - | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Arvinas, Inc.this co. | ARVN | $499M | -6.18 | 1.15 | -18.6% | -3.23 |
| 4D Molecular Therapeutics, Inc. | FDMT | $523M | -3.73 | 1.03 | -27.7% | -3.19 |
| Aquestive Therapeutics, Inc. | AQST | $519M | -6.20 | -15.43 | 248.9% | -6.66 |
| Pacific Biosciences of California, Inc. | PACB | $506M | -0.93 | 94.65 | -10214.5% | -7.50 |
| AngioDynamics, Inc. | ANGO | $497M |
| - |
| - |
| - |
| - |
| - |
| -14.62 |
| 2.72 |
| -18.6% |
| 256.27 |
| Standard BioTools Inc. | LAB | $496M | -6.62 | 1.17 | -17.7% | -4.73 |
| Evolent Health, Inc. | EVH | $493M | -0.92 | 1.19 | -128.7% | -3.68 |
| Prothena Corporation plc | PRTA | $484M | -1.98 | 1.73 | -87.0% | -1.01 |
| The Oncology Institute, Inc. | TOI | $474M | -7.82 | -30.15 | 385.5% | -12.80 |
| Peer Median | - | -4.97 | 1.18 | -23.1% | -4.21 | |