Arvinas, Inc. Q2 FY2025 earnings call

• Restructured the company by reprioritizing research pipeline, cutting programs, and reducing workforce by ~one-third to extend cash runway. - Pipeline progress: Enrolling patients in 3 Phase I trials across neuro and oncology; ARV-102 had first-in-human data; ARV-393 had preclinical data; ARV-806 initiated Phase I trial. - Novartis collaboration: Novartis is rapidly progressing luxdegalutamide, with two Phase II trials initiated. - vepdeg: Submitted NDA, ongoing discussions with Pfizer to rework collaboration; VERITAC-2 data published, patient-reported outcomes data to be presented.

No specific product segment financial performance with absolute terms and revenue contribution % provided in the transcript.

• Cash runway extended into the second half of 2028. - Focus on key clinical inflection points for pipeline programs. - Expect catalysts in the next 12 months for oncology and neuroscience portfolios. - Maintaining discipline in capital allocation.

• Uncertainties in drug development and regulatory approvals. - Potential differences in views with Pfizer on vepdeg development. - Market and competitive risks for pipeline assets.

Q: Ted Tenthoff asks about the restructuring charge and pipeline data for ARV-102.

A: Andrew Saik says the restructuring charge was split between R&D and G&A, and John Houston/Noah Berkowitz discuss ARV-102 data expectations.

Q: Jonathan Miller follows up on ARV-102 data and BCL6 combination therapy.

A: Noah Berkowitz talks about ARV-102 data plans and John G. Houston discusses BCL6 combination potential.

Q: Derek Archila asks about ARV-102 LRRK2 degradation and vepdeg label differentiation.

A: John G. Houston and Noah Berkowitz respond on ARV-102 LRRK2 expectations and vepdeg differentiation.

Q: Tazeen Ahmad asks about vepdeg commercialization and potential launch gaps.

A: John G. Houston addresses vepdeg commercialization plans and launch readiness.

Q: Andrew Berens asks about vepdeg Phase III trial and ARV-806 positioning.

A: Noah Berkowitz and Angela Cacace respond on vepdeg trial and ARV-806 differentiation.

Q: Li Watsek asks about vepdeg PDUFA date and new partner considerations for vepdeg.

A: John G. Houston and Noah Berkowitz discuss vepdeg PDUFA and partner considerations.

Q: Akash Tewari asks about Denali LRRK2 data and its impact on Arvinas' program.

A: Noah Berkowitz comments on Denali data and Arvinas' degrader advantages.

Q: Evan Seigerman asks about FDA interactions on vepdeg and ARV-806 positioning.

A: John G. Houston, Noah Berkowitz, and Angela Cacace respond on FDA interactions and ARV-806 differentiation.

Q: Srikripa Devarakonda asks about ARV-102 eligibility and vepdeg neoadjuvant potential.

A: Noah Berkowitz and John G. Houston discuss ARV-102 eligibility and vepdeg neoadjuvant plans.

Q: Jeet Mukherjee asks about discussions with Pfizer on vepdeg and other partners.

A: John G. Houston talks about discussions with Pfizer and other partner possibilities.

Q: Ellie Merle asks about KRAS inhibitor data and ARV-806 update.

A: Angela Cacace discusses ARV-806 preclinical data and differentiation.

Q: Peter Lawson asks about ARV-806 trial enrollment and BCL6 data focus.

A: Noah Berkowitz and Noah Berkowitz comment on ARV-806 trial enrollment and BCL6 data expectations.

Q: Michael Schmidt asks about pan-KRAS differentiation.

A: Angela Cacace talks about pan-KRAS differentiation and combinability.

Q: Terence Flynn asks about BCL6 combo trial requirements.

A: Noah Berkowitz responds on BCL6 combo trial requirements.

Q: Yigal Nochomovitz asks about AI utilization in vepdeg and drug development.

A: Noah Berkowitz and Angela Cacace discuss AI utilization in NDA and research.

Q: Tyler Van Buren asks about Pfizer's willingness to revise vepdeg collaboration and cash implications.

A: John G. Houston addresses Pfizer's collaboration stance and cash plans for vepdeg