Arvinas reported a $53.9 million net loss for Q3 2026.

Item 6.

Exhibits

57

Signatures

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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Forward-Looking Statements

This Quarterly Report on Form 10-Q contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this Quarterly Report on Form 10-Q, including statements regarding our strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management, are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "target," "potential," "goals," "will," "would," "could," "should," "continue" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

The forward-looking statements in this Quarterly Report on Form 10-Q include, among other things, statements about:¹

• the initiation, timing, progress and results of our current and/or future clinical trials of ARV-393, ARV-027, ARV-6723 and ARV-102¹, including statements regarding the period during which the results of the clinical trials will become available or the forum in which we will present such results;

• the initiation, timing, progress and results of our current preclinical studies and any future preclinical studies or clinical trials of our other programs, including statements regarding the period during which the results of preclinical studies or clinical trials will become available or the forum in which we will present such results;

• the potential advantages of our platform technology and potential advantages and therapeutic benefits, activity, effectiveness and safety of our product candidates;

• our belief that and the extent to which our targeted protein degradation approach may provide distinct advantages over existing therapies and address a broad range of targets, including historically undruggable proteins, in areas of significant unmet need;

• favorable clinical trial results in our ongoing oncology and neurology programs providing further validation of our platform as a new therapeutic modality for the potential treatment of diseases caused by dysregulated intracellular proteins;

• our plans to pursue research and development of other product candidates;

• our or our collaborators' ability to obtain or maintain marketing approval of our product candidates, and any timing related thereto, and the ability of our product candidates to meet existing or future regulatory standards;

• the potential achievement of milestones and receipt of payments, including royalties, under our collaborations and license agreements, including our license agreement with Pfizer Inc. and Rigel Pharmaceuticals, Inc. and our license agreement with Novartis Pharma AG;

• the potential paym ents to be made to Yale University ("Yale") under our amended and restated license agreement with Yale;

• our belief that the data from our preclinical studies supports clinical evaluation of our programs and may provide compelling rationales to evaluate one or more of our product candidates in combination;

• our belief that ARV-393 can be an attractive combination partner for development of novel therapies for lymphoma, including chemo-free combination regimens and/or "all oral" treatment options;

• our belief that the higher-than-predicted proportion of patients with T-cell lymphomas, when compared to the overall lymphoma population, in the early monotherapy cohorts of the Phase 1 clinical trial of ARV-393 in patients with relapsed/refractory Non-Hodgkin lymphoma may reflect the limited treatment options for these patients;

• our belief that ARV-027 has the potential to become the first treatment option for patients with spinal bulbar muscular atrophy ("SBMA"), where no therapies have been approved in the U.S. or European Union;

• our belief that the forthcoming multiple ascending dose data in healthy volunteers and patients with SBMA will help determine whether ARV-027 produces the biological effects that would support advancement of ARV-027 into a registrational trial;

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• our plans with respect to ARV-102, including initiation of a Phase 1b trial in patients with progressive supranuclear palsy in the European Union and the United Kingdom, pending clinical trial application submission and regulatory authorization, and our objective to include U.S. sites in future trials, after completing the anticipated Phase 1b trial;

• our plans to seek an out-licensing agreement for any additional clinical trials, including dose expansion or combination clinical trials, for ARV-806;

• the potential receipt of revenue from future sales of our product candidates;

• the rate and degree of market acceptance and clinical utility of our product candidates;

• our estimates regarding the potential market opportunity for our product candidates;

• our ability to manage the search for a new chief medical officer;

• our commercialization plans, and sales, marketing and distribution capabilities and strategy;

• our ability to establish and maintain arrangements for manufac ture and testing of our product candidates;

• our ability to enter into additional collaborations with third parties and our dependence on collaborators;

• our intellectual property position;

• our plans with respect to our strategy;

• our estimates regarding expenses, future revenues, capital requirements and needs for additional financing, and statements regarding our cash, cash equivalents, restricted cash and marketable securities, including their sufficiency to fund planned operating expenses and capital expenditure requirements into the second half of 2028;

• our belief that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance;

•

Item 1. Financial Statements.

ARVINAS, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets (unaudited) (dollars and shares in millions, except per share amounts) September 30,

2026 December 31,

2025

Assets

Current assets:

Prepaid expenses and other current assets 23.9 8.9

Total current assets 587.6 700.7

Property, equipment and leasehold improvements, net 4.6 5.2

Operating lease right-of-use assets 6.8 8.2

Liabilities and stockholders' equity

Current liabilities:

Accounts payable and accrued liabilities $ 39.9 $ 69.5

Deferred revenue — 71.3

Current portion of collaboration liability 28.2 —

Current portion of operating lease liabilities 1.9 1.7

Total current liabilities 70.0 142.5

Deferred revenue — 134.3

Collaboration liability 18.2 —

Commitments and Contingencies (Note 12)

Stockholders' equity:

Preferred stock, $ 0.001 par value, zero shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively

— —

Accumulated other comprehensive (loss) income ( 1.7 ) 1.2

Total liabilities and stockholders' equity $ 607.5 $ 717.9

See accompanying notes to the condensed consolidated financial statements

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ARVINAS, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (unaudited) (dollars and shares in millions, except per share amounts) For the Three Months Ended

September 30, For the Nine Months Ended

September 30,

Other income

(Loss) earnings per common share²

Weighted average common shares outstanding

(dollars in millions) For the Three Months Ended

September 30, For the Nine Months Ended

September 30,

See accompanying notes to the condensed consolidated financial statements

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ARVINAS, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Changes in Stockholders' Equity (unaudited) (dollars and shares in millions) Common Accumulated

Deficit Additional

Paid-in

Capital Accumulated

Other

Comprehensive

Income (Loss) Treasury Total

Stockholders'

Equity

For the Three Months Ended September 30, 2026 and 2025

Shares Amount Shares Amount

Unrealized loss on available-for-sale securities — — — — ( 0.9 ) — — ( 0.9 )

Issuance of common stock under equity incentive plans 0.2 — — — — — — —

Share repurchases (Treasury Stock) — — — — — 2.6 ( 20.3 ) ( 20.3 )

Unrealized gain on available-for-sale securities — — — — 0.4 — — 0.4

See accompanying notes to the condensed consolidated financial statements

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ARVINAS, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Changes in Stockholders' Equity (unaudited), continued (dollars and shares in millions) Common Accumulated

Deficit Additional

Paid-in

Capital Accumulated

Other

Comprehensive

Income (Loss) Treasury Total

Stockholders'

Equity

For the Nine Months Ended September 30, 2026 and 2025

Shares Amount Shares Amount

Unrealized loss on available-for-sale securities

Issuance of common stock for pre-funded warrants 3.4 — —