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Segment Information (Tables)
6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Summary of reportable segment financial information
The following table summarizes the reportable segment's financial information:
Three Months Ended
June 30,
Six Months Ended
June 30,
(dollars in millions)2025202420252024
Revenue$22.4 $76.5 $211.2 $101.8 
Less:
Research and development expense
Vepdegestrant (ARV-471) (*)
15.1 25.1 39.2 44.1 
ARV-1023.8 1.7 10.3 3.0 
ARV-3932.5 1.7 5.1 2.9 
ARV-806 1.7 0.2 2.6 0.3 
Bavdegalutamide (ARV-110)0.9 2.5 2.0 4.1 
Luxdegalutamide (ARV-766)— 9.5 — 13.2 
Other programs0.8 — 2.5 — 
Non program-specific external expense11.1 13.5 25.0 29.6 
Compensation and related personnel expense
(including stock-based compensation)
28.4 36.3 65.3 74.6 
Other research and development expense4.3 3.2 7.4 6.2 
Total research and development expense68.6 93.7 159.4 178.0 
General and administrative expense
25.3 31.3 51.9 55.6 
Other segment expense, net (**)0.3 0.1 0.4 0.1 
Income tax expense(0.3)0.2 (0.2)0.3 
Plus:
Interest income, net10.3 13.6 22.0 27.6 
Segment net (loss) income$(61.2)$(35.2)$21.7 $(104.6)
(*)    Includes net reimbursement to and from Pfizer pursuant to the Vepdegestrant (ARV-471) Collaboration Agreement which are accounted for pursuant to ASC 808 and are recorded as an offset or an increase to research and development expenses.
(**)    Includes primarily realized foreign exchange gains/ losses.