Arvinas 2025 Q3 Earnings Revenue Beats Estimates, Net Loss Narrows 28.7%

Arvinas (ARVN) reported Q3 2025 earnings on Nov 5, 2025, with revenue of $41.9M beating estimates by $14.34M (+51.7%) and net loss narrowing by 28.7% to -$35.1M. The company raised guidance on cash runway into H2 2028 and highlighted pipeline advancements, including ARV-102 and ARV-806 clinical progress.

Revenue

Arvinas’ Q3 revenue dropped 59.1% YoY to $41.9M, primarily due to expiring Novartis collaborations, but exceeded the $27.55M consensus. This beat underscores short-term operational adjustments and a $20M milestone payment from Novartis, though long-term revenue sustainability remains tied to partnership and product development.

Earnings/Net Income

The net loss narrowed to -$35.1M ($0.48/share) in Q3 2025, a 28.7% improvement from -$49.2M in Q3 2024. The EPS of -$0.48 marked a 39.2% improvement from the prior year, indicating progress in cost management and operational efficiency despite ongoing losses.

Post Earnings Price Action Review

Arvinas’ stock edged up 1.48% on the day of the earnings release but declined 0.21% for the week and 0.52% month-to-date. The stock’s 12.0% quarterly gain contrasts with a 50.2% year-to-date drop, reflecting high volatility. A hypothetical 30-day backtest of a “buy on revenue beat” strategy, initiated at $9.57 on Nov 5, 2025, faces uncertainty due to limited post-earnings data. While the 51.7% revenue surprise suggests short-term upside, the lack of historical revenue beat data and ARVN’s 50.2% YTD decline highlight risks, including clinical trial delays and partnership dependencies.

CEO Commentary

CEO John Houston emphasized “meaningful pipeline progress,” including ARV-102’s LRRK2 degradation data and ARV-806’s preclinical efficacy. The company plans to initiate a Phase 1b trial for ARV-102 in PSP by H1 2026 and partner with Pfizer for vepdegestrant commercialization ahead of its June 2026 FDA decision.

Guidance

Arvinas expects cash reserves of $787.6M to fund operations through H2 2028. 2026 milestones include Phase 1b trials for ARV-102, clinical data for ARV-806 and ARV-393, and a $100M share repurchase program.

Additional News

1. $100M Share Repurchase: Arvinas announced a $100M buyback, repurchasing 2.56M shares at $7.91/share by September 2025.

2. Pfizer Partnership: Joint selection of a commercialization partner for vepdegestrant is underway, with a PDUFA date of June 5, 2026.

3. Pipeline Expansion: The company plans to advance ARV-027 and ARV-6723 into clinical trials in 2026, targeting SBMA and immuno-oncology.