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v3.26.1

Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2026
Segment Reporting [Abstract] |
Schedule of Reportable Segment Financial Information | The following table summarizes the reportable segment's financial information:
| Three Months Ended March 31, |  |
(dollars in millions) | 2026 |  | 2025 |  |  |  |
Revenue | $ | 15.6 |  |  | $ | 188.8 |  |  |  |  |
Less: |  |  |  |  |  |  |
Research and development expense |  |  |  |  |  |  |
Vepdegestrant (ARV-471) (*) | 8.9 |  |  | 24.1 |  |  |  |  |
ARV-806 | 6.5 |  |  | 0.9 |  |  |  |  |
ARV-102 | 5.5 |  |  | 6.5 |  |  |  |  |
ARV-393 | 3.7 |  |  | 2.6 |  |  |  |  |
Bavdegalutamide (ARV-110) | 0.2 |  |  | 1.1 |  |  |  |  |
Other programs | 2.6 |  |  | 1.7 |  |  |  |  |
Non program-specific external expense | 9.2 |  |  | 13.9 |  |  |  |  |
Compensation and related personnel expense (including stock-based compensation) | 21.3 |  |  | 36.9 |  |  |  |  |
Other research and development expense | 2.4 |  |  | 3.1 |  |  |  |  |
Total research and development expense | 60.3 |  |  | 90.8 |  |  |  |  |
General and administrative expense | 19.1 |  |  | 26.6 |  |  |  |  |
Other segment expense, net (**) | 0.1 |  |  | — |  |  |  |  |
Income tax expense | 0.1 |  |  | 0.2 |  |  |  |  |
Plus: |  |  |  |  |  |  |
Interest income, net | 6.4 |  |  | 11.7 |  |  |  |  |
Segment net (loss) income | $ | (57.6) |  |  | $ | 82.9 |  |  |  |  |
(*) 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 realized gains/ losses on foreign currency transactions and gains/ losses on sale of marketable securities.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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