NASDAQ$ARVN
Arvinas Inc. · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Arvinas reported financial results for the second quarter ended June 30, 2024, and provided a corporate update.
Arvinas made significant progress across its portfolio in Q2 2024, highlighted by the upcoming VERITAC-2 Phase 3 trial readout and strategic transaction with Novartis, receiving $150 million upfront and potentially $1.01 billion in milestones and royalties.
- Completed enrollment in the study lead-in for the VERITAC-3 Phase 3 trial in the first-line setting.
- Continued enrollment globally in multiple clinical trials of vepdegestrant in ER+/HER2- metastatic breast cancer, including the VERITAC-2 Phase 3 trial in the second-line setting.
- Received $150 million upon close of ARV-766 license agreement and sale of preclinical AR-V7 program to Novartis.
- Strengthened executive team with key appointments and promotions.
Headline financials
Revenue & EPS history
Arvinas · Revenue · Quarterly
$76.5M
Revenue by segment
Arvinas · $30.3M total across 1 segment · Q3 2022
- Collaboration Revenue$30.3M+225.8%100.0%
Forward guidance
Arvinas believes its cash, cash equivalents, restricted cash and marketable securities as of June 30, 2024, is sufficient to fund planned operating expenses and capital expenditure requirements into 2027.
Tailwinds
- Complete enrollment (4Q24) and announce topline data (4Q24/1Q25) for the VERITAC-2 Phase 3 monotherapy clinical trial.
- Evaluate data from the study lead-in of the VERITAC-3 Phase 3 trial to support dose selection for vepdegestrant plus palbociclib in planned Phase 3 combination trials in patients with ER+/HER2- locally advanced or metastatic breast cancer (2H24).
- Present initial safety and pharmacokinetic data from the abemaciclib arm of the ongoing TACTIVE-U trial (2H24).
- Continue enrollment of the ongoing Phase 1b/2 combination umbrella trial evaluating combinations of vepdegestrant with abemaciclib, ribociclib, or samuraciclib (TACTIVE-U).
- Continue enrollment and evaluate preliminary data from the ongoing clinical trial with vepdegestrant plus Pfizer’s novel CDK4 inhibitor atirmociclib (TACTIVE-K) to inform the study design for the planned Phase 3 first line combination trial with either atirmociclib or palbociclib, with planned initiation in 2025.
Headwinds
- Potential delays in clinical trial enrollment and data readout for VERITAC-2.
- Uncertainty regarding the success of vepdegestrant and other product candidates in clinical development.
- Risks associated with obtaining marketing approval and commercializing vepdegestrant and other product candidates.
- Dependence on collaboration with Pfizer and Novartis for development and commercialization efforts.
- Potential challenges in protecting intellectual property portfolio.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
-2.4%
Avg return
Earnings day
-2.1%
Avg return
5 days after
-1.6%
Avg return
30 days after
30%
9 / 30 earnings
Positive
+11.8%
Q1 2019
Best reaction
-24.8%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.4% | -10.2% | -31.0% | |
| Q4 2025 | +5.2% | +4.7% | -7.4% | |
| Q3 2025 | +0.5% | +17.3% | +34.1% | |
| Q1 2025 | -24.8% | -27.8% | -25.2% | |
| Q4 2024 | -6.8% | -3.5% | -54.9% | |
| Q3 2024 | -3.9% | -2.5% | -2.8% | |
| Q2 2024 | -1.0% | -7.0% | -6.3% | |
| Q1 2024 | +0.3% | -2.5% | -14.1% | |
| Q4 2023 | -5.8% | -3.1% | -15.4% | |
| Q3 2023 | -2.5% | -11.5% | +93.1% | |
| Q2 2023 | +2.1% | +6.8% | +12.8% | |
| Q1 2023 | +4.9% | +3.0% | -1.2% | |
| Q4 2022 | -7.0% | -10.8% | -23.0% | |
| Q3 2022 | -4.0% | +17.9% | -12.5% | |
| Q2 2022 | +3.8% | +4.5% | -19.3% | |
| Q1 2022 | -16.4% | -22.6% | -19.0% | |
| Q4 2021 | -2.6% | -4.4% | -5.4% | |
| Q3 2021 | +4.9% | +1.2% | -18.8% | |
| Q2 2021 | -4.3% | -8.9% | -13.4% | |
| Q1 2021 | -4.0% | -9.1% | -1.7% | |
| Q4 2020 | -1.0% | -8.0% | -15.6% | |
| Q3 2020 | -3.6% | +4.3% | +18.6% | |
| Q2 2020 | -5.0% | -11.1% | -23.0% | |
| Q1 2020 | -0.9% | -6.0% | -17.7% | |
| Q4 2019 | -3.2% | -1.8% | +14.2% | |
| Q3 2019 | +3.3% | +17.6% | +79.4% | |
| Q2 2019 | -4.6% | -0.2% | -1.5% | |
| Q1 2019 | +11.8% | +11.1% | +0.8% | |
| Q4 2018 | -3.0% | -6.9% | +42.9% | |
| Q3 2018 | -0.1% | +7.3% | -13.6% | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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