Khalid (for Paul Choi)'s questions to Arvinas Inc (ARVN) leadership • Q3 2024
Question
An analyst, Khalid, from Goldman Sachs asked a modeling question about the R&D cost ramp for next year as earlier assets advance and the cadence of revenue recognition from the Novartis agreement.
Answer
CFO Andrew Saik stated that while no specific expense guidance is being provided, the company is confident in its cash runway into 2027, partly due to the conscious decision to out-license ARV-766 to manage burn. He clarified that the Novartis revenue recognized this quarter was from the amortization of the upfront payment over the 2024 handover period and is separate from any future milestones.