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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% | - |
| 2024 | $263M | $-244M | $-199M | $-261M | -35.4% | 235.5% | - |
| 2023 | $79M | $-395M | $-367M | $-351M | -55.7% | -40.3% | - |
| 2022 | $131M | $-255M | $-283M | $-280M | -50.0% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 131.40 | 78.50 | 263.40 | 262.60 |
| Operating Expense | 394.60 | 480 | 513.60 | 381.10 |
| Operating Income | -263.20 | -401.50 | -250.20 | -118.50 |
| EBITDA | -255 | -394.80 | -243.60 | -113.30 |
| EBIT | -263.20 | -401.50 | -250.20 | -118.50 |
| Pretax Income | -251 | -363.90 | -198.30 | -80.50 |
| Tax Provision | 20.90 | 0.90 | 0.60 | 0.30 |
| Net Income | -282.50 | -367.30 | -198.90 | -80.80 |
| Net Income Common Stockholders | -282.50 | -367.30 | -198.90 | -80.80 |
| Total Expenses | 394.60 | 480 | 513.60 | 381.10 |
| Interest Expense | 0 | 0 | 0 | 0 |
| Interest Income | 12 | 38.80 | 54.80 | 38.40 |
| Research And Development | 315 | 379.70 | 348.20 | 285.20 |
| Selling General And Administration | 79.60 | 100.30 | 165.40 | 95.90 |
| Normalized EBITDA | -255 | -394.80 | -243.60 | -113.30 |
| Normalized Income | -282.50 | -367.30 | -198.90 | -80.80 |
| Basic EPS | -5.31 | -6.62 | -2.77 | 0 |
| Diluted EPS | -5.31 | -6.62 | -2.77 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.21 |
| Net Income From Continuing Operation Net Minority Interest | -282.50 | -367.30 | -198.90 | -80.80 |
| Reconciled Depreciation | 8.20 | 6.70 | 6.60 | 5.20 |
| Net Interest Income | 12 | 38.80 | 54.80 | 38.40 |
| Net Income From Continuing And Discontinued Operation | -282.50 | -367.30 | -198.90 | -80.80 |
| Total Operating Income As Reported | -263.20 | -401.50 | -250.20 | -118.50 |
| Diluted Average Shares | 53.20 | 55.50 | 71.90 | 0 |
| Basic Average Shares | 53.20 | 55.50 | 71.90 | 0 |
| Diluted NI Availto Com Stockholders | -282.50 | -367.30 | -198.90 | -80.80 |
| Net Income Including Noncontrolling Interests | -282.50 | -367.30 | -198.90 | -80.80 |
| Net Income Continuous Operations | -282.50 | -367.30 | -198.90 | -80.80 |
| Earnings From Equity Interest Net Of Tax | -10.60 | -2.50 | 0 | 0 |
| Other Income Expense | 0.20 | -1.20 | -2.90 | -0.40 |
| Other Non Operating Income Expenses | 0.20 | -1.20 | -2.90 | -0.40 |
| Earnings From Equity Interest | 0 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | 12 | 38.80 | 54.80 | 38.40 |
| Interest Expense Non Operating | 0 | 0 | 0 | 0 |
| Interest Income Non Operating | 12 | 38.80 | 54.80 | 38.40 |
| General And Administrative Expense | 79.60 | 100.30 | 165.40 | 95.90 |
| Other Gand A | 79.60 | 100.30 | 165.40 | 95.90 |
| Operating Revenue | 131.40 | 78.50 | 263.40 | 262.60 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Arvinas, Inc.this co. | ARVN | $628M | - | 1.44 | -18.6% | 0.43 |
| Bioventus Inc. | BVS | $654M | 29.30 | 3.52 | 10.0% | 12.31 |
| Eton Pharmaceuticals, Inc. | ETON | $645M | - | 24.38 | -17.6% | 73.07 |
| HealthStream, Inc. | HSTM | $641M | 34.05 | 1.76 | 5.2% | 9.46 |
| Prime Medicine, Inc. | PRME | $638M | - | 5.17 |
| -166.4% |
| -2.81 |
| Aclaris Therapeutics, Inc. | ACRS | $624M | - | 5.23 | -63.0% | -6.08 |
| CorMedix Inc. | CRMD | $591M | 3.67 | 1.46 | 40.2% | 3.38 |
| Prothena Corporation plc | PRTA | $585M | - | 2.09 | -87.0% | -1.56 |
| Anteris Technologies Global Corp. | AVR | $574M | - | -2950.00 | - | -6.11 |
| Peer Median | - | 29.30 | 2.81 | -17.6% | 0.91 | |