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Arvinas maintains cash runway guidance into second half of 2028
Arvinas reported second-quarter 2026 financial results and provided pipeline updates, including a delay in the start of clinical trials for its ARV-102 LRRK2 degrader in progressive supranuclear palsy to 2027. Total revenue for the quarter was $249.7 million, and the company ended the period with $567.9 million in cash, cash equivalents, and marketable securities. CFO Andrew Saik stated that the company continues to maintain its cash runway guidance into the second half of 2028. The revenue included $62.5 million in license revenue and a $50 million milestone from Pfizer, while a Rigel-related accounting change resulted in net revenue of $126.4 million and a liability of $52.7 million for remaining development obligations. CEO Randy Teel highlighted the first FDA approval of a PROTAC degrader, VEPPANU, and its out-licensing to Rigel Pharmaceuticals, as well as the strategic decision to seek a partner for the KRAS G12D program ARV-806. The company expects initial Phase I data for ARV-393 by year-end and plans to share ARV-027 Phase I data in the first half of next year.
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ARVN · Capital · Positive Reports Q2 2026 financial results, maintains cash runway into 2028, and highlights FDA approval of VEPPANU.
RIGL · Capital · Positive Rigel out-licensing of VEPPANU and accounting change affect Arvinas's revenue and liabilities.
PFE · Capital · Positive Pfizer paid a $50 million milestone to Arvinas, indicating progress in their collaboration.