ARVINAS, INC.
ARVN · Pharmaceutical Preparations · 64.5M shares · +14%/yr ↑ dilution · EDGAR filings ↗
Reference price $8.16 · est. market cap ~$526M — last insider sale, 2026-06-24 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C55Well-capitalized PROTAC platform with a near-approval breast-cancer asset but no clean positive efficacy readout yet.
Strengths
- $685M cash (88th pct) and minimal debt; ROA/ROE in 64th–76th pct relative to sector
- Vepdegestrant NDA accepted with June 2026 PDUFA; promising ARV-102 Phase 1 CNS data and multiple pharma collaborations
Risks
- Pfizer and Arvinas are seeking a third party for vepdegestrant commercialization — a partnering yellow flag on the lead asset
- Only an inconclusive neoadjuvant window study (Ki-67 comparable to anastrozole, no p-value) in posted Phase 2 results; deep cash burn (FCF -$276M)
- Pipeline otherwise early (Phase 1) with no de-risking Phase 3 efficacy yet
Notable findings
- High convictionHigh conviction — notable institutional holders, insider buying, and a strong balance sheet
- Net lossNet loss (net margin -30.8%)
- Cash burnNegative free cash flow (-275.7M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Chronic dilutionShare count +14%/yr over 4y (dilution, book value/share -67%)
- Insider buyingInsider buying — 1 open-market buy(s) by 1 insider(s) (~$268,070, last 6mo) Form 4 ↗
- Strong balance sheetStrong balance sheet — $685M cash & investments, ~10 quarters of runway
- Insider sellingInsider selling — 22 open-market sale(s) by 6 insider(s) (cluster of 6 insiders, ~$1M, last 6mo) Form 4 ↗
- Notable holderHeld by 4 notable fund(s): STATE STREET CORP, CITADEL ADVISORS LLC, GOLDMAN SACHS GROUP INC +1 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-45.1%
Net margin
-30.8%
Return on equity
-18.6%
Return on assets
-11.3%
ROIC
-21.6%
Revenue growth (QoQ)
64.2%
Debt / equity
0.0×
Current ratio
4.9×
Free cash flow
-$276M
EBITDA
-$116M
Tangible book value
$434M
Cash & investments
$685M
Cash runway
10q
Stock comp / revenue
16.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-24 | Saik Andrew | Sell | 5.7K | $8.16 |
| 2026-06-24 | Norwalk Leslie V | Grant | 16K | — |
| 2026-06-24 | Smaldone Alsup Laurie | Grant | 16K | — |
| 2026-06-24 | Bain Linda | Grant | 16K | — |
| 2026-06-24 | Cunningham Everett | Grant | 16K | — |
| 2026-06-24 | Kennedy Edward Moore Jr. | Grant | 16K | — |
| 2026-06-24 | Morrison Briggs | Grant | 16K | — |
| 2026-06-17 | Cacace Angela M | Sell | 2.6K | $7.59 |
| 2026-05-21 | Teel Randy | Sell | 2.2K | $9.04 |
| 2026-05-11 | Berkowitz Noah | Sell | 11K | $9.94 |
| 2026-05-11 | Teel Randy | Sell | 9.7K | $9.94 |
| 2026-05-11 | Saik Andrew | Sell | 11K | $9.94 |
| 2026-05-11 | Loomis David K | Sell | 1.9K | $9.94 |
| 2026-05-11 | Cacace Angela M | Sell | 9.7K | $9.94 |
| 2026-03-18 | Berkowitz Noah | Sell | 6.4K | $11.10 |
| 2026-03-06 | Morrison Briggs | Buy | 20K | $13.40 |
| 2026-02-27 | Houston John G | Sell | 4.7K | $13.24 |
| 2026-02-27 | Houston John G | Sell | 19K | $13.24 |
| 2026-02-27 | Houston John G | Sell | 12K | $13.14 |
| 2026-02-26 | Saik Andrew | Grant | 45K | — |
| 2026-02-26 | Teel Randy | Grant | 148K | — |
| 2026-02-26 | Teel Randy | Grant | 147K | — |
| 2026-02-26 | Loomis David K | Grant | 12K | — |
| 2026-02-26 | Cacace Angela M | Grant | 45K | — |
| 2026-02-26 | Berkowitz Noah | Grant | 45K | — |
| 2026-02-23 | Teel Randy | Sell | 1.0K | $12.16 |
| 2026-02-23 | Cacace Angela M | Sell | 1.0K | $12.16 |
| 2026-02-23 | Loomis David K | Sell | 1.1K | $12.16 |
| 2026-02-23 | Cacace Angela M | Sell | 2.6K | $12.16 |
| 2026-02-23 | Teel Randy | Sell | 3.7K | $12.16 |
| 2026-02-13 | Teel Randy | Sell | 4.4K | $11.89 |
| 2026-02-13 | Cacace Angela M | Sell | 4.6K | $11.89 |
| 2026-02-13 | Berkowitz Noah | Sell | 5.7K | $11.89 |
| 2026-02-13 | Loomis David K | Sell | 1.0K | $11.89 |
| 2026-02-13 | Saik Andrew | Sell | 5.1K | $11.89 |
| 2025-11-07 | Loomis David K | Sell | 230 | $9.89 |
| 2025-09-22 | Morrison Briggs | Buy | 30K | $7.57 |
| 2025-06-25 | Smaldone Alsup Laurie | Grant | 16K | — |
| 2025-06-25 | AGARWAL SUNIL | Grant | 16K | — |
| 2025-06-25 | Morrison Briggs | Grant | 16K | — |
| 2025-06-25 | YOUNG JOHN D | Grant | 16K | — |
| 2025-06-25 | Bain Linda | Grant | 16K | — |
| 2025-06-25 | Kennedy Edward Moore Jr. | Grant | 16K | — |
| 2025-06-25 | Cunningham Everett | Grant | 16K | — |
| 2025-06-25 | Norwalk Leslie V | Grant | 16K | — |
| 2025-06-24 | Saik Andrew | Sell | 5.7K | $7.61 |
| 2025-06-17 | Cacace Angela M | Sell | 2.6K | $7.49 |
| 2025-05-09 | Berkowitz Noah | Grant | 60K | — |
| 2025-05-09 | Loomis David K | Grant | 12K | — |
| 2025-05-09 | Saik Andrew | Grant | 60K | — |
| 2025-05-09 | Cacace Angela M | Grant | 60K | — |
| 2025-03-18 | Berkowitz Noah | Sell | 8.7K | $8.59 |
| 2025-02-24 | Houston John G | Sell | 5.2K | $16.55 |
| 2025-02-24 | Houston John G | Sell | 26K | $16.75 |
| 2025-02-24 | Taylor Ian | Sell | 1.7K | $16.55 |
| 2025-02-24 | Taylor Ian | Sell | 7.4K | $16.75 |
| 2025-02-24 | Cacace Angela M | Sell | 1.1K | $16.55 |
| 2025-02-24 | Cacace Angela M | Sell | 3.1K | $16.75 |
| 2025-02-24 | Loomis David K | Sell | 1.2K | $16.75 |
| 2025-02-13 | Loomis David K | Grant | 11K | — |
| 2025-02-13 | Saik Andrew | Grant | 49K | — |
| 2025-02-13 | Taylor Ian | Grant | 21K | — |
| 2025-02-13 | Berkowitz Noah | Grant | 55K | — |
| 2025-02-13 | Cacace Angela M | Grant | 49K | — |
| 2025-02-13 | Houston John G | Grant | 152K | — |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT06393738 ↗ | A Study of ARV-393 in Relapsed/Refractory Non-Hodgkin Lymphoma. Relapsed/Refractory (R/R) Mature B Cell Non Hodgkin Lymphoma (NHL), Relapsed/Refractory (R/R) Angioimmunoblastic T-cell Lymphoma (AITL) | PHASE1 | Recruiting | 2028-03-01 |
| NCT07023731 ↗ | A Study to Evaluate ARV-806 in Adults With Advanced Cancer That Has the KRAS G12D Mutation KRAS G12D Mutation, Advanced Solid Cancer | PHASE1/PHASE2 | Recruiting | 2027-11-30 |
| NCT04072952 ↗ | A Phase 1/2 Trial of ARV-471 Alone and in Combination With Palbociclib (IBRANCE®) in Patients With ER+/HER2- Locally Advanced or Metastatic Breast Cancer Breast Cancer | PHASE1/PHASE2 | Completed | 2024-09-13 |
| NCT05549505 ↗ | A Trial Using ARV-471 or Anastrozole in Post-Menopausal Women With Breast Cancer Prior to Surgery Breast Cancer | PHASE2 | Completed | 2024-07-13 |
| NCT05501769 ↗ | ARV-471 in Combination With Everolimus for the Treatment of Advanced or Metastatic ER+, HER2- Breast Cancer Breast Cancer | PHASE1 | Completed | 2024-07-03 |
| NCT05177042 ↗ | Trial of ARV-110 and Abiraterone in Participants With Metastatic Prostate Cancer Prostate Cancer Metastatic | PHASE1 | Completed | 2024-07-02 |
| NCT03888612 ↗ | Trial of ARV-110 in Patients With Metastatic Castration Resistant Prostate Cancer Prostate Cancer Metastatic | PHASE1/PHASE2 | Completed | 2024-04-29 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-25 | 2026-06-24 | 0001628280-26-045520 ↗ |
| 8-K | 2026-06-22 | 2026-06-22 | 0001628280-26-044627 ↗ |
| 8-K | 2026-06-16 | 2026-06-11 | 0001628280-26-043559 ↗ |
| 8-K | 2026-06-02 | 2026-06-02 | 0001628280-26-039818 ↗ |
| 8-K | 2026-05-12 | 2026-05-12 | 0001628280-26-033875 ↗ |
| 8-K | 2026-05-12 | 2026-05-11 | 0001628280-26-033874 ↗ |
| 10-Q | 2026-05-11 | 2026-03-31 | 0001628280-26-033669 ↗ |
| 8-K | 2026-05-01 | 2026-05-01 | 0001628280-26-029210 ↗ |
| 8-K | 2026-03-18 | 2026-03-18 | 0001628280-26-019026 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0001628280-26-011226 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0001628280-26-010865 ↗ |
| 8-K | 2026-02-12 | 2026-02-10 | 0001628280-26-007463 ↗ |