Quarterly ResultAug 4, 2026, 07:07 AM
Arvinas' VEPPANU Receives First PROTAC Approval; Q2 Revenue $249.7M
AI Summary
Arvinas announced its Q2 2026 financial results, highlighted by the first-ever regulatory approval of its PROTAC degrader, VEPPANU, and its subsequent out-licensing to Rigel Pharmaceuticals. The company reported a significant increase in Q2 revenue to $249.7 million and net income of $169.4 million. Arvinas also provided updates on its clinical pipeline, including upcoming data readouts for three Phase 1 programs and the initiation of a new immuno-oncology Phase 1 trial.
Key Highlights
- VEPPANU, the first PROTAC degrader, received regulatory approval for ER+/HER2- breast cancer.
- VEPPANU was out-licensed to Rigel Pharmaceuticals for global development, manufacturing, and commercialization.
- Q2 2026 revenue increased to $249.7 million from $22.4 million in Q2 2025.
- Q2 2026 net income was $169.4 million, compared to a net loss of $61.2 million in Q2 2025.
- Diluted EPS for Q2 2026 was $2.58, compared to $(0.84) in Q2 2025.
- Cash, cash equivalents, and marketable securities totaled $567.9 million as of June 30, 2026.
- Anticipates sharing clinical data from three Phase 1 programs (ARV-393, ARV-102, ARV-027) over the next 12 months.
- Initiating first immuno-oncology Phase 1 trial with ARV-6723 in Q3 2026.
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