NASDAQ$ARVN
Arvinas Inc. · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Arvinas's Q3 2023 results were reported, highlighting progress in clinical trials and pipeline development.
Arvinas reported Q3 2023 financial results with revenues of $34.6 million and a net loss of $64.0 million. The company is advancing its PROTAC protein degraders, including vepdegestrant and ARV-766, through clinical trials and expects to file IND applications for new compounds by year-end 2023. Cash, cash equivalents, and marketable securities totaled $1,004.0 million, sufficient to fund operations into 2026.
- Enrollment continues in the 2L Phase 3 VERITAC-2 trial and the study lead-in for the VERITAC-3 1L Phase 3 trial with vepdegestrant.
- Top-line data readout for VERITAC-2 remains on track for 2H 2024.
- Bavdegalutamide mCRPC data presented at ESMO showed a median rPFS of 11.1 months in patients with AR 878/875 tumor mutations.
- The company prioritized the initiation of a Phase 3 trial with ARV-766 in mCRPC based on new interim data.
Headline financials
Revenue & EPS history
Arvinas · Revenue · Quarterly
$34.6M
Revenue by segment
Arvinas · $30.3M total across 1 segment · Q3 2022
- Collaboration Revenue$30.3M+225.8%100.0%
Forward guidance
Arvinas anticipates several milestones including presenting updated data for vepdegestrant, continuing enrollment in clinical trials, initiating a Phase 1b/2 trial with vepdegestrant plus Pfizer’s CDK4 inhibitor, and submitting IND/CTA applications for BCL6 and LRRK2 PROTAC protein degraders.
Tailwinds
- Present updated data for vepdegestrant at the San Antonio Breast Cancer Symposium in December 2023.
- Continue enrollment in the study lead-in for the VERITAC-3 Phase 3 trial of vepdegestrant and palbociclib as a first-line treatment.
- Initiate a Phase 1b/2 trial with vepdegestrant plus Pfizer’s CDK4 (cyclin dependent kinase) inhibitor in Q4 2023.
- Complete enrollment in the TACTIVE-N Phase 2 trial of vepdegestrant as a monotherapy in the neoadjuvant setting in 2024.
- Complete enrollment of the VERITAC-2 Phase 3 monotherapy trial in 2H 2024.
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 Q3 2023
-2.4%
Avg return
Earnings day
-2.1%
Avg return
5 days after
-0.6%
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% | — | |
| 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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