Arvinas Q4/FY2023: revenue down 40% to $78.5M; CFO resigns, vepdegestrant Fast Track

ARVINAS, INC.

2023-FY EPS reported -$6.62 revenue$78,500,000

FY2023 revenue $78.5M vs $131.4M prior; Q4 revenue negative $43.1M. R&D expense $379.7M. Cash $1.27B, sufficient into 2027.
Vepdegestrant: FDA Fast Track; Phase 1b combo with palbociclib CBR 63%, ORR 42%, median PFS 11.1 months. Phase 3 VERITAC-2 enrollment on track for 2H 2024.
AR program: ARV-766 selected as lead; new Phase 1/2 data showed broader efficacy vs bavdegalutamide. Phase 2 PFS data mid-2024; regulatory discussions for Phase 3 in mCRPC Q2 2024.
CFO Sean Cassidy resigns effective Feb 29; interim CFO Randy Teel. Board launched permanent replacement search.
Closed $350M oversubscribed private placement; new Pfizer collaboration for E3 ligases. Regulatory clearance for ARV-102 (LRRK2) and ARV-393 (BCL6) Phase 1 trials.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ARVINAS, INC. reported financial results for the fourth quarter and full year ended December 31, 2023.

Period: the fourth quarter and full year ended December 31, 2023
Result: reported results

Exact text from the filing

On February 27, 2024 , Arvinas, Inc. announced its financial results for the fourth quarter and year ended December 31, 2023 and provided a corporate update.

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