Arvinas Stock Plunges 7%, Wiping Out $35 Million, As Licensing Revenue Dries Up In Third-Quarter Loss
The biotech's revenue fell to $0.5 million after Pfizer-related income ended, though cash is expected to fund operations into 2028.
Arvinas, a clinical-stage biotech developing protein-degrading drugs, posted a third-quarter loss of $53.9 million, or $0.82 a share, as revenue from its Pfizer partnership ended. Shares fell 7.05% to $6.99 in Tuesday trading as of 11:15 a.m. ET, wiping out about $35 million in market value.
From $40.6 million to $0.5 million
The loss widened from $0.48 a share, or $35.1 million, in the year-earlier quarter. Revenue was $0.5 million, all of it Rigel license royalties.
A year earlier the company booked $20.6 million from Pfizer's vepdegestrant partnership plus a $20.0 million Novartis milestone. Revenue missed the analyst estimate by $16.43 million, according to Seeking Alpha.
The stock was on pace for its third straight daily decline and its biggest one-day drop since October 13.
A profit that came from collaboration income
Arvinas has no products on the market. It develops PROTAC protein degraders, medicines meant to use the body's natural protein disposal system to remove disease-causing proteins, in oncology and neurology. Candidates include vepdegestrant for ER+/HER2- breast cancer, ARV-102 for Parkinson's disease and progressive supranuclear palsy, ARV-806 for cancers with a KRAS G12D mutation, and ARV-393 for non-Hodgkin lymphoma.
The prior quarter looked very different: the 10-Q showed net income of $169.4 million on revenue of $249.7 million, a profit that came from collaboration income that has since ended.
The shares were down about 37% year to date at Monday's close, against a gain of about 10% for the S&P 500, and sat 46% below their highest close of the past year, set on February 2.
Cash into the second half of 2028
Arvinas held $558.9 million in cash and marketable securities at September 30, versus $685.4 million at year-end. The company said that funds operations into the second half of 2028.
The company has submitted initial ARV-393 lymphoma data for presentation at the American Society of Hematology meeting, December 12-15.
Initial ARV-393 lymphoma data is slated for the American Society of Hematology meeting, December 12-15.
Sources
- Arvinas, Inc. (ARVN) Reports Q3 Loss, Misses Revenue Estimates — Yahoo Finance
- Arvinas GAAP EPS of -$0.82 beats by $0.03, revenue of $0.5M misses by $16.43M — seekingalpha.com
- Arvinas Q3 2026 Earnings Call Transcript — benzinga.com
- Arvinas Reports Third Quarter 2026 Financial Results and Provides Corporate Update — Yahoo Finance
- What To Expect From Arvinas Inc (ARVN) Q3 2026 Earnings — Yahoo Finance
- The company's filing (Arvinas) — SEC filing
- Arvinas — Form 10-Q for the quarter ended 2026-06-30 (quarterly results) — SEC EDGAR
