Arvinas
Develops PROTAC degraders around VEPPANU and clinical oncology, neurology, and neuromuscular programs.
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Profile
Builds targeted protein degradation therapies from a New Haven PROTAC platform. VEPPANU is approved in the U.S. and licensed globally to Rigel, while the remaining pipeline is centered on investigational oncology, neurology, and neuromuscular degrader programs.
Builds targeted protein degradation medicines from a New Haven PROTAC platform with Yale-linked origins. The current portfolio centers on VEPPANU, an FDA-approved oral PROTAC estrogen receptor degrader, plus clinical programs including ARV-102, ARV-027, ARV-806, and ARV-393.
Commercial exposure is partner-led rather than a standard product-sales model. Rigel holds exclusive global development, manufacturing, and commercialization rights to VEPPANU, while Arvinas and Pfizer remain tied to ongoing development activities and license economics.
The pipeline spans oncology, neurology, and neuromuscular disease, and reporting remains a single consolidated segment. The business depends on partnered execution for VEPPANU and on clinical progress across investigational degrader programs.
Company facts
Key statistics
Year to date −20.0% · Average volume (30d) 802.7K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 10, 2026 | Morgan Stanley | Target | $12 | $10 | ||
| Aug 10, 2026 | Evercore ISI | Target | $14 | |||
| Aug 5, 2026 | Wedbush | Reiterate | Neutral | $11 | $12 | |
| Aug 5, 2026 | Wells Fargo | Downgrade | Overweight | Equal Weight | ||
| Aug 4, 2026 | Wells Fargo | Target | $26 | $11 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | −$0.37 | $2.58 | +789.6% | $60.7M | $249.7M | +311.3% | +11.66% |
| May 12, 2026Q1 FY26 | −$0.95 | −$0.90 | +5.3% | $16.6M | $15.6M | −6.1% | +3.13% |
| Feb 24, 2026Q4 FY25 | −$0.55 | −$1.10 | −100.0% | $37.2M | $9.5M | −74.5% | +7.52% |
| Nov 5, 2025Q3 FY25 | −$0.75 | −$0.48 | +36.0% | $37.3M | $41.9M | +12.4% | +4.49% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $188.8M | $22.4M | $41.9M | $9.5M | $15.6M | $249.7M | |
| Gross profit | $188.8M | $22.4M | $41.9M | $8.3M | $14.5M | $240.7M | |
| Operating income | $71.4M | −$71.5M | −$43.8M | −$71.7M | −$62.7M | $164.1M | |
| Net income | $82.9M | −$61.2M | −$35.1M | −$67.4M | −$57.6M | $169.4M | |
| Diluted EPS | $1.14 | −$0.84 | −$0.48 | −$1.04 | −$0.90 | $2.58 | |
| Gross margin | 100.0% | 100.0% | 100.0% | 87.4% | 92.9% | 96.4% | |
| Operating margin | 37.8% | -319.2% | -104.5% | -754.7% | -401.9% | 65.7% |
Fiscal years (4-quarter sums)FY21 $46.6M · FY22 $131.5M · FY23 $78.5M · FY24 $263.4M · FY25 $262.6M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $567.9M · Total debt $8.0M · Total assets $675.1M · Shareholders' equity $562.2M
Dividends
No dividends on record.
Ownership
Shares outstanding 64.52M · Float 55.87M · 86.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 7.61M | 11.79% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 4.12M | 6.39% | 13F | Aug 13, 2026 |
| D. E. Shaw & Co., Inc. | 3.50M | 5.42% | 13F | Aug 14, 2026 |
| Pfizer Inc | 3.46M | 5.36% | 13F | Aug 13, 2026 |
| Armistice Capital, LLC | 2.80M | 4.33% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 24, 2026 | Andrew Saik | officer: Chief Financial Officer | −5,696 | $8.16 |
| Jun 17, 2026 | Angela M. Cacace | officer: Chief Scientific Officer | −2,576 | $7.60 |
| May 21, 2026 | Randy Teel | director, officer: President and CEO | −2,209 | $9.04 |
| May 11, 2026 | Randy Teel | director, officer: President and CEO | −9,657 | $9.94 |
| May 11, 2026 | Noah Berkowitz | officer: Chief Medical Officer | −11,108 | $9.94 |
Peers
- Kymera Therapeutics
Oral TPD peer in immunology and partnered oncology
- Nurix Therapeutics
Clinical TPD peer in BTK and oncology degraders
- AstraZeneca (ADR)
Large pharma rival in ER degrader breast-cancer therapy
- C4 Therapeutics
Oncology degrader platform peer across MM, NHL, and solid tumors
- Novartis (ADR)
Breast-cancer pharma rival and TPD licensing participant
- Monte Rosa Therapeutics
Molecular-glue degrader peer in oncology and immunology
- Foghorn Therapeutics
Chromatin and degrader oncology peer with ER+ breast work
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Arvinas | $9.18 | +0.05% | $592.3M | 57.4 | — | 1.9 | +1,014.7% |
| Kymera Therapeutics | $118.15 | +0.06% | $9.72B | — | — | 92.6 | +466.4% |
| Nurix Therapeutics | $26.64 | +1.72% | $2.72B | — | — | 74.0 | −79.5% |
| AstraZeneca (ADR) | $161.79 | −0.55% | $252.33B | 24.4 | 15.2 | 4.1 | +6.4% |
| C4 Therapeutics | $3.91 | +1.54% | $425.7M | — | — | 12.1 | +2.8% |
| Novartis (ADR) | $153.81 | 0.00% | $292.35B | 23.2 | 16.4 | 5.3 | +0.9% |
| Monte Rosa Therapeutics | $13.38 | +0.04% | $1.13B | — | — | 39.3 | −61.2% |
| Foghorn Therapeutics | $6.00 | 0.00% | $352.3M | — | — | 9.6 | +113.1% |
| Median | 23.8 | 15.8 | 12.1 | +2.8% |