$ARVN
Arvinas Inc

2020 Q3 Form 10-Q Financial Statement

#000156459020051413 Filed on November 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3 2019 Q2
Revenue $7.600M $30.05M $4.016M
YoY Change -74.71% 790.31% 18.14%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $9.330M $7.960M $6.440M
YoY Change 17.21% 85.98% 307.59%
% of Gross Profit
Research & Development $30.01M $16.59M $16.00M
YoY Change 80.91% 26.15% 54.78%
% of Gross Profit
Depreciation & Amortization $860.0K $460.0K $310.0K
YoY Change 86.96% 140.15% 82.35%
% of Gross Profit
Operating Expenses $39.34M $24.55M $22.44M
YoY Change 60.27% 40.79% 88.31%
Operating Profit $5.505M -$18.42M
YoY Change -139.16% 116.32%
Interest Expense $780.0K $22.90K $22.78K
YoY Change 3305.67% 86.75% 130.76%
% of Operating Profit 0.42%
Other Income/Expense, Net $140.0K $1.495M $1.260M
YoY Change -90.63% 122.72% 90.09%
Pretax Income -$30.82M -$17.68M -$17.16M
YoY Change 74.32% 32.06% 118.6%
Income Tax
% Of Pretax Income
Net Earnings -$30.82M -$17.68M -$17.16M
YoY Change 74.37% 32.03% 118.53%
Net Earnings / Revenue -405.52% -58.82% -427.35%
Basic Earnings Per Share
Diluted Earnings Per Share -$789.0K -$540.0K -$545.8K
COMMON SHARES
Basic Shares Outstanding 33.72M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $248.6M $190.5M $159.2M
YoY Change 30.5% 112.14% 59.68%
Cash & Equivalents $88.99M $12.14M $11.34M
Short-Term Investments $159.6M $178.4M $147.8M
Other Short-Term Assets $3.500M $4.000M $2.700M
YoY Change -12.5% 14.29% 35.0%
Inventory
Prepaid Expenses
Receivables $2.400M $59.33K $0.00
Other Receivables $3.600M $5.142M $1.402M
Total Short-Term Assets $258.0M $199.7M $163.3M
YoY Change 29.22% 109.03% 57.44%
LONG-TERM ASSETS
Property, Plant & Equipment $11.71M $7.152M $6.366M
YoY Change 63.76% 113.67% 176.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $0.00 $20.76K $20.76K
YoY Change -100.0%
Total Long-Term Assets $13.90M $9.430M $8.785M
YoY Change 47.39% 180.0% 281.96%
TOTAL ASSETS
Total Short-Term Assets $258.0M $199.7M $163.3M
Total Long-Term Assets $13.90M $9.430M $8.785M
Total Assets $271.9M $209.1M $172.0M
YoY Change 30.04% 111.45% 62.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.100M $2.278M $1.411M
YoY Change 123.9% 75.11% -16.97%
Accrued Expenses $12.14M $6.227M $3.999M
YoY Change 95.02% 28.36% 99.95%
Deferred Revenue $20.29M $14.82M
YoY Change 50.32%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $71.50K
YoY Change -100.0% -64.25%
Total Short-Term Liabilities $39.50M $29.40M $20.95M
YoY Change 34.37% 48.11% 21.07%
LONG-TERM LIABILITIES
Long-Term Debt $2.000M $2.000M $2.000M
YoY Change 0.0% 0.0% 1900.0%
Other Long-Term Liabilities $25.30M $43.50M $32.60M
YoY Change -41.84% 6.88% -26.41%
Total Long-Term Liabilities $27.30M $2.000M $2.000M
YoY Change 1265.0% 0.0% -95.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $39.50M $29.40M $20.95M
Total Long-Term Liabilities $27.30M $2.000M $2.000M
Total Liabilities $66.80M $74.93M $55.54M
YoY Change -10.86% 19.78% -9.98%
SHAREHOLDERS EQUITY
Retained Earnings -$351.5M -$333.8M
YoY Change 22.83%
Common Stock $33.08K $31.52K
YoY Change 797.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $205.1M $134.2M $116.5M
YoY Change
Total Liabilities & Shareholders Equity $271.9M $209.1M $172.0M
YoY Change 30.03% 111.46% 62.31%

Cashflow Statement

Concept 2020 Q3 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income -$30.82M -$17.68M -$17.16M
YoY Change 74.37% 32.03% 118.53%
Depreciation, Depletion And Amortization $860.0K $460.0K $310.0K
YoY Change 86.96% 140.15% 82.35%
Cash From Operating Activities -$22.39M $1.850M -$13.57M
YoY Change -1310.27% -116.85% 11.41%
INVESTING ACTIVITIES
Capital Expenditures -$1.400M -$1.190M -$2.890M
YoY Change 17.65% 26.6% 358.73%
Acquisitions
YoY Change
Other Investing Activities $60.69M -$30.62M -$1.340M
YoY Change -298.2% -340.35% -97.0%
Cash From Investing Activities $59.29M -$31.82M -$4.220M
YoY Change -286.33% -369.66% -90.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 30.50M 30.75M 360.0K
YoY Change -0.81% 1414.78% -1000.0%
NET CHANGE
Cash From Operating Activities -22.39M 1.850M -13.57M
Cash From Investing Activities 59.29M -31.82M -4.220M
Cash From Financing Activities 30.50M 30.75M 360.0K
Net Change In Cash 67.40M 780.0K -17.43M
YoY Change 8541.03% -72.63% -69.68%
FREE CASH FLOW
Cash From Operating Activities -$22.39M $1.850M -$13.57M
Capital Expenditures -$1.400M -$1.190M -$2.890M
Free Cash Flow -$20.99M $3.040M -$10.68M
YoY Change -790.46% -130.28% -7.53%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q3 us-gaap Change In Accounting Principle Accounting Standards Update Immaterial Effect
ChangeInAccountingPrincipleAccountingStandardsUpdateImmaterialEffect
true
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
us-gaap Accounting Standards Update Extensible List
AccountingStandardsUpdateExtensibleList
us-gaap:AccountingStandardsUpdate201613Member
CY2020Q3 us-gaap Change In Accounting Principle Accounting Standards Update Adopted
ChangeInAccountingPrincipleAccountingStandardsUpdateAdopted
true
us-gaap Lessee Operating Lease Existence Of Option To Terminate
LesseeOperatingLeaseExistenceOfOptionToTerminate
true
CY2020Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0
CY2019Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-24675000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-24675000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-17675373
us-gaap Net Income Loss
NetIncomeLoss
-77785576
CY2020Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2020Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P3M
CY2020Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2020Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1714111
us-gaap Interest Expense
InterestExpense
69319
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
4165103
us-gaap Investment Income Interest
InvestmentIncomeInterest
3065220
us-gaap Investment Income Interest
InvestmentIncomeInterest
3394269
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-30819866
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3858437
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
39058294
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.79
us-gaap Interest Expense
InterestExpense
48750
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
136666983
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
15091269
us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
327025
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
134159598
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
22121591
us-gaap Net Income Loss
NetIncomeLoss
-77785576
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3206938
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
972231
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
205119967
us-gaap Profit Loss
ProfitLoss
-77785576
arvn Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
624614
us-gaap Share Based Compensation
ShareBasedCompensation
15091269
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2716501
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
2886261
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1282866
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.54
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32740486
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3206938
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
33125440
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
5800000
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
20600000
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
14100000
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
4800000
us-gaap Net Income Loss
NetIncomeLoss
-49244511
us-gaap Net Income Loss
NetIncomeLoss
-49244511
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
972231
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
414368
us-gaap Net Income Loss
NetIncomeLoss
-77785576
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-48830143
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-76813345
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
116505261
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4601214
CY2019Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
29454033
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-17675373
CY2019Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1377968
arvn Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-669183
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4455360
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
107388206
CY2019Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-103505
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
134159598
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8246921
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-30819866
CY2020Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
577303
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
205119967
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
29454033
us-gaap Net Income Loss
NetIncomeLoss
-49244511
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1777456
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
226686281
us-gaap Profit Loss
ProfitLoss
-49244511
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
15149
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2113865
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1024845
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-1404626
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
109870
us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
0
arvn Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
506855
us-gaap Share Based Compensation
ShareBasedCompensation
22121591
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2444450
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-2769195
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-265412
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-246733
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-618960
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
4540830
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2225695
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-13102948
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
8513945
arvn Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-399610
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-60735782
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-24447819
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
41196165
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
113056097
arvn Proceeds From Maturities Of Marketable Securities
ProceedsFromMaturitiesOfMarketableSecurities
115402053
arvn Proceeds From Maturities Of Marketable Securities
ProceedsFromMaturitiesOfMarketableSecurities
119842816
arvn Proceeds From Sale Of Marketable Securities
ProceedsFromSaleOfMarketableSecurities
37775235
arvn Proceeds From Sale Of Marketable Securities
ProceedsFromSaleOfMarketableSecurities
0
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4592917
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
2331359
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
169610
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
30835206
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
916704
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
0
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
29454033
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1777456
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
31061879
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
79777864
CY2019 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
14335188
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1204
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8945419
CY2020Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
159574963
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
271553880
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
107576
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
271661456
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9211057
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3190056
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
88988921
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12135475
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
777940
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
138600
us-gaap Interest Paid Net
InterestPaidNet
48750
us-gaap Interest Paid Net
InterestPaidNet
59586
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
58407407
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
17318637
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
45300000
us-gaap Nature Of Operations
NatureOfOperations
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;">1. Nature of Business </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:5.67%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Arvinas, Inc. and subsidiaries (the Company) is a clinical-stage biopharmaceutical company dedicated to improving the lives of patients suffering from debilitating and life-threatening diseases through the discovery, development and commercialization of therapies that degrade disease-causing proteins.<span style="color:#000000;"> The Company expects to incur additional operating losses and negative operating cash flows for the foreseeable future.</span> </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:5.67%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A novel strain of coronavirus (COVID-19) was first identified in December 2019, and subsequently declared a global pandemic by the World Health Organization on March 11, 2020. As a result of the outbreak, many companies have experienced disruptions in their operations and in markets served.  <span style="Background-color:#FFFFFF;color:#000000;">The Company has instated some and may take additional precautionary measures intended to help ensure the well-being of its employees and minimize business disruption. The Company temporarily shut down its laboratories in mid-March 2020 and initiated work with biology contract research organizations (CROs) but has since reopened its laboratories. The Company’s office-based employees continue to work remotely. </span>The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operations and financial position as of September 30, 2020. The full extent of the future impacts of COVID-19 on the Company’s operations is uncertain. A prolonged outbreak could have a material adverse impact on financial results and business operations of the Company, including the timing and ability of Company to complete certain clinical trials and other efforts required to advance its preclinical pipeline.</p>
CY2020Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
158495156
CY2020Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
45304459
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1081011
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19500000
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
45300000
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17072870
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11720272
CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5360467
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3264861
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11712403
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8455411
CY2020Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
861293
CY2019Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
468225
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2113865
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1024845
arvn Lessee Operating Lease Expiration Date
LesseeOperatingLeaseExpirationDate
2024-09-30
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M12D
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
262045
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
173446
us-gaap Operating Lease Cost
OperatingLeaseCost
731477
us-gaap Operating Lease Cost
OperatingLeaseCost
604731
us-gaap Operating Lease Payments
OperatingLeasePayments
669183
us-gaap Operating Lease Payments
OperatingLeasePayments
399610
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
572413
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
367868
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
189472
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1124684
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1108066
CY2020Q3 arvn Lessee Operating Lease Liability Payments Due After Year Two
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearTwo
12041
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2434263
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
143026
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2291237
us-gaap Interest Expense Debt
InterestExpenseDebt
48750
us-gaap Interest Expense Debt
InterestExpenseDebt
69319
CY2020Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4341221
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5810723
CY2020Q3 arvn Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
6939941
CY2019Q4 arvn Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
1186935
CY2020Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
862572
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
605246
CY2020Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
12143734
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7602904
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
7210
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
92480
CY2020Q3 arvn Long Term Debt Maturities Repayments Of Principal In Year Six
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix
377516
CY2020Q3 arvn Long Term Debt Maturities Repayments Of Principal After Year Six
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearSix
1530004
CY2020Q3 us-gaap Long Term Debt
LongTermDebt
2000000
CY2020Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
16250
CY2019Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
22903
CY2020Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-30819866
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-17675373
us-gaap Net Income Loss
NetIncomeLoss
-77785576
us-gaap Net Income Loss
NetIncomeLoss
-49244511
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
39058294
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32740486
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
38784569
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
31876074
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.79
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.54
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.01
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.54
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4976467
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4251366

Files In Submission

Name View Source Status
0001564590-20-051413-index-headers.html Edgar Link pending
0001564590-20-051413-index.html Edgar Link pending
0001564590-20-051413.txt Edgar Link pending
0001564590-20-051413-xbrl.zip Edgar Link pending
arvn-10q_20200930.htm Edgar Link pending
arvn-10q_20200930_htm.xml Edgar Link completed
arvn-20200930.xsd Edgar Link pending
arvn-20200930_cal.xml Edgar Link unprocessable
arvn-20200930_def.xml Edgar Link unprocessable
arvn-20200930_lab.xml Edgar Link unprocessable
arvn-20200930_pre.xml Edgar Link unprocessable
arvn-ex311_9.htm Edgar Link pending
arvn-ex312_8.htm Edgar Link pending
arvn-ex321_6.htm Edgar Link pending
arvn-ex322_7.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending