0001564590-21-009857 | 10-K | XBRL Viewer

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2020	Feb. 24, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Registrant Name	ARVINAS, INC.
Entity Central Index Key	0001655759
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity voluntary Filers	No
Entity File Number	001-38672
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-2566120
Entity Address, Address Line One	5 Science Park
Entity Address, Address Line Two	395 Winchester Ave
Entity Address, City or Town	New Haven
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06511
City Area Code	203
Local Phone Number	535-1456
Document Annual Report	true
Document Transition Report	false
Title of 12(b) Security	Common stock, par value $0.001 per share
Trading Symbol	ARVN
Security Exchange Name	NASDAQ
Entity Public Float			$ 1,347,500,000
Entity Common Stock Shares Outstanding		48,874,027
ICFR Auditor Attestation Flag	true
Documents Incorporated by Reference	Part III of this Annual Report incorporates by reference information from the definitive Proxy Statement for the registrant’s 2021 Annual Meeting of Stockholders, which is expected to be filed with the Securities and Exchange Commission not later than 120 days after the registrant’s fiscal year ended December 31, 2020.

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 588,373,232	$ 9,211,057
Marketable securities	100,157,618	271,661,456
Account receivable	1,000,000
Other receivables	7,443,654	6,280,828
Prepaid expenses and other current assets	6,113,122	3,727,294
Total current assets	703,087,626	290,880,635
Property, equipment and leasehold improvements, net	12,259,515	8,455,411
Operating lease right of use assets	1,992,669	2,278,623
Other assets	28,777	26,757
Total assets	717,368,587	301,641,426
Current liabilities:
Accounts payable	7,121,879	4,556,827
Accrued expenses	18,859,840	7,602,904
Deferred revenue	22,150,861	19,979,525
Current portion of operating lease liabilities	952,840	673,896
Total current liabilities	49,085,420	32,813,152
Deferred revenue	22,938,233	38,427,882
Long term debt, net of current portion	2,000,000	2,000,000
Operating lease liabilities	1,087,422	1,714,111
Total liabilities	75,111,075	74,955,145
Commitments and contingencies
Stockholders' equity:
Common stock, $0.001 par value, 48,455,741 and 38,461,353 shares issued and outstanding as of December 31, 2020 and 2019, respectively	48,455	38,461
Accumulated deficit	(491,888,910)	(372,556,846)
Additional paid-in capital	1,133,537,171	599,097,090
Accumulated other comprehensive income	560,796	107,576
Total stockholders' equity	642,257,512	226,686,281
Total liabilities and stockholders' equity	$ 717,368,587	$ 301,641,426

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Common Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock Shares Issued	48,455,741	38,461,353
Common Stock Shares Outstanding	48,455,741	38,461,353

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Revenue	$ 21,801,777	$ 42,976,478	$ 14,323,920
Operating expenses:
Research and development	108,355,853	67,193,830	45,193,830
General and administrative	38,303,401	27,307,162	12,932,168
Total operating expenses	146,659,254	94,500,992	58,125,998
Loss from operations	(124,857,477)	(51,524,514)	(43,802,078)
Other income (expenses)
Other income	2,004,561	1,435,596	102,730
Change in fair value of preferred unit warrant	0	0	(193,779)
Interest income	3,585,852	4,557,260	2,470,101
Interest expense	(65,000)	(85,569)	(57,440)
Total other income	5,525,413	5,907,287	2,321,612
Loss from equity method investment	0	(24,675,000)	0
Net loss	(119,332,064)	(70,292,227)	(41,480,466)
Change in redemption value of redeemable preferred units	0	0	(198,366,756)
Net loss attributable to common shares	$ (119,332,064)	$ (70,292,227)	$ (239,847,222)
Net loss per common share, basic and diluted	$ (3.02)	$ (2.13)	$ (25.45)
Weighted average common shares outstanding, basic and diluted	39,534,497	32,927,697	9,422,799

Consolidated Statements of Comprehensive Loss - USD ($)	12 Months Ended
Consolidated Statements of Comprehensive Loss - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (119,332,064)	$ (70,292,227)	$ (41,480,466)
Other comprehensive gain (loss):
Unrealized gain (loss) on available-for-sale securities	453,220	325,299	(207,972)
Comprehensive loss	$ (118,878,844)	$ (69,966,928)	$ (41,688,438)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Consolidated Statements of Redeemable Convertible Preferred Shares/Units and Changes in Stockholders'/Members' Equity - USD ($)	Total	At-the-Market Offering	Accumulated Deficit	Additional Paid-in Capital	Additional Paid-in Capital At-the-Market Offering	Accumulated Other Comprehensive Loss	Series A Redeemable Convertible Preferred Units	Series B Redeemable Convertible Preferred Units	Series C Redeemable Convertible Preferred Units	Series A,B and C Convertible Preferred Shares	Common Units Member Units	Common Shares	Common Shares At-the-Market Offering	Incentive Units Member Units
Balance at Dec. 31, 2017							$ 19,768,025	$ 41,712,407
Balance, Units/Shares at Dec. 31, 2017							22,463,665	24,977,489
Balance at Dec. 31, 2017	$ (61,234,562)		$ (62,417,397)			$ (9,751)					$ 6,167			$ 1,186,419
Balance, Units/Shares at Dec. 31, 2017											1,897,544			3,669,963
Incentive unit-based compensation	11,630,300			$ 9,141,239										$ 2,489,061
Incentive unit-based compensation Units														1,680,386
Exercise of Series A redeemable convertible preferred warrant							$ 319,667
Exercise of Series A redeemable convertible preferred warrant, Units							110,116
Issuance of Series C redeemable convertible preferred units									$ 55,000,001
Issuance of Series C redeemable convertible preferred units, Units									16,467,066
Change in redemption value of redeemable convertible preferred units	(198,366,756)		(198,366,756)				$ 91,044,716	$ 81,253,577	$ 26,068,463
Net loss	(41,480,466)		(41,480,466)
Conversion of redeemable convertible preferred units to redeemable convertible preferred shares							$ (111,132,408)	$ (122,965,984)	$ (81,068,464)	$ 315,166,856
Conversion of redeemable convertible preferred units to redeemable convertible preferred shares, Units/Shares							(22,573,781)	(24,977,489)	(16,467,066)	64,018,336
Conversion of common and incentive units to common and restricted stock				3,677,954							$ (6,167)	$ 3,693		$ (3,675,480)
Conversion of common and incentive units to common and restricted stock, Units/Shares											(1,897,544)	3,692,765		(5,350,349)
Issuance of common stock, net of underwriters' discounts and issuance costs	111,159,583			111,151,883								$ 7,700
Issuance of common stock, net of underwriters' discounts and issuance costs, Shares												7,700,482
Conversion of redeemable convertible preferred stock to common stock	315,166,856			315,147,158						$ (315,166,856)		$ 19,698
Conversion of redeemable convertible preferred stock to common stock, Shares										(64,018,336)		19,697,928
Restricted stock vesting				(145)								$ 145
Restricted stock vesting, Shares												144,283
Unrealized gain (loss) on available-for-sale securities	(207,972)					(207,972)
Balance at Dec. 31, 2018	136,666,983		(302,264,619)	439,118,089		(217,723)						$ 31,236
Balance, Units/Shares at Dec. 31, 2018												31,235,458
Stock-based compensation	20,072,710			20,072,710
Net loss	(70,292,227)		(70,292,227)
Issuance of common stock, net of underwriters' discounts and issuance costs	137,088,875			137,082,302								$ 6,573
Issuance of common stock, net of underwriters' discounts and issuance costs, Shares												6,573,586
Restricted stock vesting				(475)								$ 475
Restricted stock vesting, Shares												475,412
Proceeds from exercise of stock options	2,824,641			2,824,464								$ 177
Proceeds from exercise of stock options, Shares												176,897
Unrealized gain (loss) on available-for-sale securities	325,299					325,299
Balance at Dec. 31, 2019	226,686,281		(372,556,846)	599,097,090		107,576						$ 38,461
Balance, Units/Shares at Dec. 31, 2019												38,461,353
Stock-based compensation	30,230,858			30,230,858
Net loss	(119,332,064)		(119,332,064)
Issuance of common stock, net of underwriters' discounts and issuance costs	431,899,963	$ 64,058,494		431,893,392	$ 64,055,900							$ 6,571	$ 2,594
Issuance of common stock, net of underwriters' discounts and issuance costs, Shares												6,571,428	2,593,637
Restricted stock vesting				(371)								$ 371
Restricted stock vesting, Shares												371,164
Proceeds from exercise of stock options	8,260,760			8,260,302								$ 458
Proceeds from exercise of stock options, Shares												458,159
Unrealized gain (loss) on available-for-sale securities	453,220					453,220
Balance at Dec. 31, 2020	$ 642,257,512		$ (491,888,910)	$ 1,133,537,171		$ 560,796						$ 48,455
Balance, Units/Shares at Dec. 31, 2020												48,455,741

Consolidated Statements of Redeemable Convertible Preferred Shares/Units and Changes in Stockholders'/Members' Equity (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Issuance of common stock, underwriters' discounts and issuance costs	$ 28,099,997	$ 7,497,131	$ 12,048,129
Common Shares \| At-the-Market Offering
Issuance of common stock, offering costs	$ 1,584,647

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net loss	$ (119,332,064)	$ (70,292,227)	$ (41,480,466)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of debt discount	0	15,149	17,963
Change in fair value of preferred unit warrant liability	0	0	193,779
Depreciation and amortization	3,166,139	1,561,557	706,000
Net accretion of bond discounts/premiums	1,654,516	154,022	248,069
Gain on sale of marketable securities	(395,070)	0	0
Amortization of right to use assets	858,367	691,345	0
Non-cash share/unit-based compensation	30,230,858	20,072,710	11,630,300
Changes in operating assets and liabilities:
Other receivables	(1,162,826)	(4,024,862)	(1,215,514)
Account receivable	(1,000,000)	2,775,831	22,224,169
Prepaid expenses and other current assets	(2,387,848)	(1,065,005)	(2,501,383)
Accounts payable	2,042,342	1,608,735	2,002,163
Accrued expenses	10,807,123	3,601,628	605,340
Operating lease liabilities	(920,158)	(581,961)	0
Deferred revenue	(13,318,313)	4,856,736	(8,548,090)
Net cash used in operating activities	(89,756,934)	(40,626,342)	(16,117,670)
Cash flows from investing activities:
Purchase of marketable securities	(41,196,166)	(256,548,355)	(234,894,225)
Maturities of marketable securities	174,118,543	169,695,816	58,059,526
Sale of marketable securities	37,775,235	0	0
Purchase of property, equipment and leasehold improvements	(6,447,533)	(6,244,024)	(2,830,661)
Net cash provided by (used in) investing activities	164,250,079	(93,096,563)	(179,665,360)
Cash flows from financing activities:
Repayments of long-term debt	0	(169,610)	(173,889)
Proceeds from long-term debt	0	0	2,000,000
Proceeds from issuance of common stock	459,999,960	137,686,006	114,583,172
Payment of common stock offering costs	(27,650,184)	(597,131)	(3,423,589)
Proceeds from exercise of stock options	8,260,760	2,824,641	0
Proceeds from issuance of Series C redeemable convertible preferred units	0	0	55,000,001
Proceeds from exercise of warrant	0	0	75,000
Net cash provided by financing activities	504,669,030	139,743,906	168,060,695
Net increase (decrease) in cash and cash equivalents	579,162,175	6,021,001	(27,722,335)
Cash and cash equivalents, beginning of the period	9,211,057	3,190,056	30,912,391
Cash and cash equivalents, end of the period	588,373,232	9,211,057	3,190,056
Supplemental disclosure of cash flow information:
Purchases of property, equipment and leasehold improvements unpaid at period end	522,710	189,908	159,494
Cash paid for interest	65,000	70,420	39,476
Increase in redemption value of preferred units	0	0	198,366,756
At-the-Market Offering
Cash flows from financing activities:
Payment of common stock offering costs	(1,584,647)	0	0
Proceeds from sale of common stock in at-the-market offering	$ 65,643,141	$ 0	$ 0

Nature of Business and Basis of Presentation

12 Months Ended

Dec. 31, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Nature of Business and Basis of Presentation

1. Nature of Business and Basis of Presentation

Arvinas, Inc. has four wholly owned subsidiaries, Arvinas Operations, Inc., Arvinas Androgen Receptor, Inc., Arvinas Estrogen Receptor, Inc., and Arvinas Winchester, Inc. (collectively, the Company). Arvinas Operations, Inc. was formed in 2013, Arvinas Androgen Receptor, Inc. was formed in 2015, Arvinas Estrogen Receptor, Inc. was formed in 2016, and Arvinas Winchester, Inc. was formed in 2018. In September 2018, the Company converted from a Delaware limited liability company to a Delaware corporation. All periods prior to the date of conversion represent the results of the limited liability corporation. The Company is a clinical-stage biopharmaceutical company dedicated to improving the lives of patients suffering from debilitating and life-threatening diseases throughout the discovery, development and commercialization of therapies to degrade disease-causing proteins.

Arvinas, Inc. was incorporated in Delaware on July 3, 2013. Effective January 1, 2015, Arvinas Holding Company, LLC (Arvinas LLC) was formed by the shareholders of Arvinas, Inc. and Arvinas, Inc. became a wholly owned subsidiary of Arvinas LLC. In connection with this reorganization, the rights and preferences of the preferred stock of Arvinas, Inc. were exchanged for preferred stock units with similar rights and preferences of Arvinas LLC. As part of the reorganization, the employees, consultants and board members of Arvinas, Inc. exchanged their stock options in Arvinas, Inc. stock in exchange for incentive units in Arvinas LLC. Additionally, common stockholders of Arvinas, Inc. exchanged their common stock for common units in Arvinas LLC. All exchanges were made on a 1-for-1 basis. This reorganization was accounted for as a common control transaction as the common stockholders of Arvinas, Inc. formed Arvinas, LLC and transferred all the assets from Arvinas, Inc. to Arvinas LLC.

The Company’s Board of Managers approved a one-for-3.25 reverse stock split of its issued and outstanding shares of common units and a proportional adjustment to the existing conversion ratios for the Company’s Series A, Series B, and Series C preferred units effective as of September 14, 2018. Accordingly, all share/unit and per share/unit amounts for all periods presented in the accompanying financial statements and notes thereto have been retroactively adjusted, where applicable, to reflect this reverse unit split and adjustment of the preferred unit conversion ratios. Immediately prior to the effectiveness of the registration statement pertaining to the Company’s initial public offering on September 26, 2018, the Company converted from a Delaware limited liability company to a Delaware corporation. Pursuant to the plan of conversion, each outstanding Series A, Series B, and Series C preferred units converted into an equal number of shares of Series A, Series B, and Series C preferred stock, each outstanding common unit converted into a share of common stock and each outstanding incentive unit converted into a number of shares of common stock and restricted common stock based on a conversion price determined by the board of directors. The Company issued 1,795,221 shares of common stock and 1,268,923 shares of restricted common stock.

On October 1, 2018, the Company completed an initial public offering (IPO) in which the Company issued and sold 7,500,000 shares of common stock at a public offering price of $16.00 per share. In October 2018, the underwriters of the IPO exercised in part their option to purchase 200,482 additional shares of the Company’s common stock at an offering price of $16.00 per share. The Company’s aggregate gross proceeds from the sale of shares in the IPO, including the option, was $123.2 million before fees and expenses of $12.0 million.

On October 1, 2018, all of the outstanding shares of convertible preferred stock automatically converted into 19,697,928 shares of common stock at the applicable conversion ratio then in effect. Subsequent to the closing of the IPO, there were no shares of preferred stock outstanding.

Basis of Presentation - The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP). The accounting policies used to prepare these financial statements are the same as those used to prepare the consolidated financial statements in prior years, except as described in these notes or for the adoption of new standards as outlined below.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Principles of Consolidation

The consolidated financial statements of the Company include the accounts of Arvinas, Inc. and its wholly owned subsidiaries. All intercompany transactions have been eliminated in consolidation.

Use of Estimates

The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts and disclosures in the financial statements and notes. While management believes that estimates and assumptions used in the preparation of the consolidated financial statements and notes are appropriate, actual results could differ from those estimates. The most significant estimates are those used in determination of the Company’s revenue recognition, research and development expenses, fair value of its common and preferred units, preferred unit warrant liability, incentive equity compensation, and fair value of its investment in a joint venture, Oerth Bio LLC (Oerth).

Financial Instruments

The Company’s principal financial instruments comprise cash, marketable securities, account receivable, accounts payable, accrued liabilities and long-term debt. The carrying value of all financial instruments approximates fair value.

Cash and Cash Equivalents

The Company classifies as cash and cash equivalents amounts on deposit in banks and cash invested temporarily in various instruments, primarily money market accounts, with original maturities of three months or less at time of purchase. The carrying amounts reported in the consolidated balance sheets represent the fair values of cash and cash equivalents.

Concentration of Credit Risk

The Company maintains its cash in financial institution accounts that, at times during the year, may exceed federally insured limits. The cash balances in the financial institutions are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. Cash may also be maintained at commercial institutions that are not insured by the FDIC.

For the year ended December 31, 2020, 100% of the Company’s revenue was attributable to three collaborators representing 37%, 32% and 31%, respectively, and one collaborator accounted for the entire accounts receivable balance. For the year ended December 31, 2019, 57% of the Company’s revenue was attributable to a license contributed to Oerth, and two collaborators represented 19% and 16% of total revenue. For the year ended December 31, 2018, two collaborators each represented over 45% of total revenue.

Marketable Securities

The Company classifies its marketable securities as available-for-sale securities, which are carried at their fair value based on the quoted market prices of the securities with unrealized gains and losses reported as accumulated other comprehensive loss, a separate component of stockholders’/members’ equity. Realized gains and losses on available-for-sale securities are included in net earnings in the period earned or incurred.

Property, Equipment, and Leasehold Improvements

Property and equipment are recorded at cost. Depreciation is calculated using the straight-line method over the estimated useful lives, which range from three years for office equipment to five years for laboratory equipment. Maintenance and repairs which do not extend the lives of the assets are charged directly to expense as incurred. Upon retirement or disposal, cost and related accumulated depreciation are removed from the related accounts, and any resulting gain or loss is recognized as a component of income or loss for the period. Leasehold improvements are recorded at cost and amortized using the straight-line method over the shorter of the lease term or the useful life of the asset.

Impairment of Long-Lived Assets

When indications of potential impairments are present, the Company evaluates the carrying value of long-lived assets. The Company adjusts the carrying value of the long-lived assets if the sum of undiscounted expected future cash flows is less than carrying value. No such impairments were recorded during 2020, 2019 or 2018.

Segment Information

The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. All of the Company’s tangible assets are held in the United States. To date, all of the Company’s revenue has been generated in the United States.

Revenue Recognition and Deferred Revenue

Revenues from Contracts

The Company recognizes revenue under Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers. The Company’s revenue is generated through research collaboration and license agreements with pharmaceutical partners. The terms of these agreements contain multiple goods and services which may include (i) licenses, (ii) research and development activities, and (iii) participation in joint research and development steering committees. The terms of these agreements may include non-refundable upfront license or option fees, payments for research and development activities, payments upon the achievement of certain milestones, and royalty payments based on product sales derived from the collaboration. Under ASC 606, the Company evaluates whether the license agreement, research and development services, and participation in research and development steering committees, represent separate or combined performance obligations. The Company has determined that these services within its existing contracts represent a combined single performance obligation.

The research collaboration and license agreements typically include contingent milestone payments related to specified preclinical and clinical development milestones and regulatory milestones. These milestone payments represent variable consideration to be included within the transaction price using the most likely amount method. The Company determined that the most likely amount to be recognized was zero, against which no constraint was applied. The Company will continue to assess the probability of significant reversals for any amounts that become likely to be realized prior to recognizing the variable consideration associated with these payments within the transaction price.

Revenue is recognized ratably over the Company’s expected performance period under each respective arrangement. The Company makes its best estimate of the period over which the Company expects to fulfill the Company’s performance obligations, which includes access to technology through the license agreement and research activities. Given the uncertainties of these collaboration arrangements, significant judgment is required to determine the duration of the performance period.

For the years ended December 31, 2020, 2019 and 2018, the transaction price allocated to the combined performance obligation identified under the agreements is recognized as revenue on a straight-line basis over the estimated performance period under each respective arrangement. Straight-line basis was considered the best measure of progress in which control of the combined obligation transfers to the customers, due to the contract containing license rights to technology, research and development services, and joint committee participation, which in totality are expected to occur ratably over the performance period.

The Company’s contracts may also call for certain sales-based milestone and royalty payments upon successful commercialization of a target. The Company recognizes revenues from sales-based milestone and royalty payments at the later of a) the occurrence of the subsequent sale; or b) the performance obligation to which some or all of the sales-based milestone or royalty payments has been allocated has been satisfied (or partially satisfied). The Company anticipates recognizing these milestones and royalty payments if and when subsequent sales are generated by the customer from the use of the technology. To date, no revenue from these sales-based milestone and royalty payments has been recognized for any periods.

Amounts received prior to satisfying the above revenue recognition criteria are recorded as a contract liability in the Company’s accompanying consolidated balance sheets.

The Company also recognized revenue under ASC 606 from its contribution of a license to Oerth. See Note 12.

Equity Method Investments

The Company accounts for investments for which it does not have a controlling interest in accordance with ASC 323, Investments – Equity Method and Joint Ventures. The Company recognizes its pro-rata share of income and losses in the investment in “Loss from equity method investment” on the consolidated statement of operations and comprehensive loss, with a corresponding change to the investment in equity method investment on the consolidated balance sheet until such investment is reduced to $0.

Preferred Unit Warrants

Preferred unit warrants issued in conjunction with debt financings were initially recorded at fair value, using a Black-Scholes option pricing model, with a corresponding discount recorded against the face value of the note and a liability. The discount was then accreted against the face value of the note over its remaining term as additional interest expense.

The Company classified warrants to purchase shares of its Series A Redeemable Convertible Preferred Units (Series A Preferred Units) as a liability on its balance sheets as these warrants were free-standing financial instruments that were exercisable for contingently redeemable shares. The preferred unit warrants were recorded in long-term liabilities at fair value, estimated using the Black-Scholes option pricing model, and marked to market at each balance sheet date. The change in carrying value was reported as the change in fair value of warrant liability in the accompanying consolidated statements of operations. The outstanding warrants were exercised in July 2018 and no warrants were outstanding as of December 31, 2020 and 2019.

Income Taxes

Prior to the conversion to a C-corporation, Arvinas LLC was taxed under the provisions of Subchapter K—Partners and Partnerships of the Internal Revenue Code. Under those provisions, Arvinas LLC did not pay federal or state corporate income taxes on its taxable income. Instead, each member would include net operating income or loss for Arvinas LLC on its individual return. Arvinas LLC was converted to a C-corporation in 2018.

Arvinas, Inc. and its wholly owned subsidiaries use the asset and liability method of accounting for income taxes, as set forth in ASC 740, Accounting for Income Taxes. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequence of temporary differences between the carrying amounts and the tax basis of assets and liabilities and net operating loss carry forwards, all calculated using presently enacted tax rates.

Management has evaluated the effect of ASC 740 guidance related to uncertain income tax positions and concluded that the Company has no significant uncertain income tax positions at December 31, 2020 and 2019.

Equity-based Compensation

Prior to its IPO, the Company periodically granted incentive units to employees and non-employees, which generally vested over a four-year period. The incentive units represented a separate substantive class of equity with defined rights within the limited liability company agreement of Arvinas Holding Company, LLC (the LLC Operating Agreement). The incentive units represented profits interests in the Company, which was an interest in the increase in the value of the entity over the Participation Threshold, as defined in the LLC Operating Agreement and as determined at the time of grant. The holder, therefore, had the right to participate in distributions of profits only in excess of the Participation Threshold. The Participation Threshold was based on the valuation of the common unit on or around the grant date.

The Company accounted for incentive units granted in accordance with ASC 718, Compensation-Stock Compensation (ASC 718). In accordance with ASC 718, compensation expense is measured at estimated fair value of the incentive units and is included as compensation expense over the vesting period during which an employee provides service in exchange for the award.

The Company measures employee, board of director and consultant equity-based compensation for stock option and restricted stock grants based on the grant date fair value of the equity awards. Equity-based compensation expense is recognized over the requisite service period of the awards, net of estimated forfeitures. Estimated forfeitures are updated on a periodic basis based on actual experience. For equity awards that have a performance condition, the Company recognizes compensation expense based on its assessment of the probability that the performance condition will be achieved.

The Company classifies equity-based compensation expense in its consolidated statement of operations in the same manner in which the award recipient’s salary and related costs are classified or in which the award recipient’s service payments are classified.

Research and Development Expenses

Research and development expenses include (i) employee-related expenses, including salaries, benefits, travel and stock-based compensation expense; (ii) external research and development expenses incurred under arrangements with third parties, such as contract research organization agreements, investigational sites, and consultants; (iii) the cost of acquiring, developing, and manufacturing clinical study materials; (iv) costs associated with preclinical and clinical activities and regulatory operations; and (v) costs incurred in development of intellectual property. Costs incurred in connection with research and development activities are expensed as incurred.

The Company enters into consulting, research, and other agreements with commercial entities, researchers, universities, and others for the provision of goods and services. Such arrangements are generally cancelable upon reasonable notice and payment of costs incurred. Costs are considered incurred based on an evaluation of the progress to completion of specific tasks under each contract using information and data provided by the respective vendors, including the Company’s clinical sites. These costs consist of direct and indirect costs associated with specific projects, as well as fees paid to various entities that perform certain research on behalf of the Company. Depending upon the timing of payments to the service providers, the Company recognizes prepaid expenses or accrued expenses related to these costs. These accrued or prepaid expenses are based on management’s estimates of the work performed under service agreements, milestones achieved, and experience with similar contracts. The Company monitors each of these factors and adjusts estimates accordingly.

Fair Value Measurements

ASC Topic 820, Fair Value Measurements and Disclosures, requires disclosure of the fair value of financial instruments held by the Company. ASC 825, Financial Instruments, defines fair value and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The three levels of valuation hierarchy are defined as follows:

Level 1—Inputs are based upon observable or quoted prices for identical instruments traded in active markets.

Level 2—Inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. The Company’s Level 2 investments consist primarily of corporate notes and bonds and U.S. government and agency securities.

Level 3—Inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques.

In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value.

The Company’s marketable securities consist of corporate bonds which are adjusted to fair value each balance sheet date, based on quoted prices, which are considered Level 2 inputs (see Note 5). During the year ended December 31, 2019, a non-recurring fair value measurement was applied to determine the fair value of the non-cash consideration of 50% equity ownership received related to Oerth. The fair value measurement was determined using an income approach based primarily on utilizing management’s estimates of future cash flows as inputs, which are considered Level 3 measurements within the above fair value hierarchy.

Net Loss per Common Share

Basic net loss per common share is computed by dividing net loss, after adjusting for redeemable preferred unit dividends, by the weighted-average number of common shares outstanding during the period. The change in current redemption value of the redeemable preferred units was treated as a deemed dividend for the period during 2018 prior to conversion to common units. Diluted net loss per share was computed using the weighted-average number of common shares outstanding during the period and, if dilutive, the weighted average number of potential shares of common shares. The effect of the conversion of redeemable preferred units into common units was excluded from the computation of diluted net loss per common share for all periods as their effect was antidilutive. Additionally, common share equivalents are excluded from the computation of diluted net loss per common share for all periods as their effect is antidilutive.

New Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses, which provides a model for recognizing credit losses on financial instruments based on an estimate of current expected losses, requiring immediate recognition of credit losses expected over the life of a financial instrument. The Company adopted ASU 2016-13 in the first quarter of 2020. The adoption of the standard was immaterial to the accompanying consolidated financial statements.

Other accounting standards that have been issued by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption.

License Agreements

12 Months Ended

Dec. 31, 2020

License Agreements [Abstract]

License Agreements

3. License Agreements

In July 2013, the Company entered into an exclusive license agreement, including the right to grant sublicenses, with Yale University to develop protein degradation technologies. In connection with the execution of this license agreement, the Company made a non-refundable upfront payment of $149,511. In addition to the upfront payment, the Company paid Yale University a License Maintenance Royalty of varying amounts through the fourth anniversary of the license agreement. The minimum annual payment will be $75,000 until the first sale to a third party of any licensed product.

The Company is also required to pay Yale University success-based milestones for the development of the protein degradation technologies as well as low single-digit running royalties on aggregate worldwide net sales of certain licensed products, which may be subject to reductions, and subject to a minimum royalty payment that ranges from $200,000 to $500,000. The agreement requires that, if the Company sublicenses the protein degradation technologies to a third party, the Company must pay Yale University a mid-single digit to mid-double digit percentage of Sublicense Income (as defined in the agreement) received on the first licensed product therewith. During 2015, the Company paid $750,000 to Yale University for sublicense consideration, representing the maximum amount required to be paid for sublicense consideration for a licensed product and satisfying this obligation. During 2020, 2019 and 2018, the Company paid $150,000, $150,000 and $75,000, respectively, under the license agreement. The Company is also required to reimburse Yale University for patent costs incurred. During 2020, 2019 and 2018, the Company reimbursed Yale University $196,167, $352,663 and $216,093, respectively, for patent costs.

Research Collaboration and License Agreements

12 Months Ended

Dec. 31, 2020

Research Collaboration And License Agreements [Abstract]

Research Collaboration and License Agreements

4. Research Collaboration and License Agreements

In June 2019, the Company and Bayer AG entered into a Collaboration and License Agreement (Bayer Collaboration Agreement) setting forth the Company’s collaboration with Bayer AG to identify or optimize proteolysis targeting chimeras, or PROTAC® targeted protein degraders, that mediate for degradation of target proteins (Targets), using the Company’s proprietary platform technology, which Targets will be selected by Bayer AG, subject to certain exclusions and limitations. The Bayer Collaboration Agreement became effective in July 2019. Under the terms of the Bayer Collaboration Agreement, the Company received an upfront non-refundable payment of $17.5 million in exchange for the use of the Company’s technology license and a $1.5 million payment to fund research activities. Bayer is committed to fund an additional $10.5 million through 2022, of which $3.0 million was received in 2020. These payments are being recognized over the total estimated period of performance. The Company is also eligible to receive up to $197.5 million in development milestone payments and up to $490.0 million in sales-based milestone payments for all designated Targets. In addition, the Company is eligible to receive, on net sales of PROTAC targeted protein degrader-related products, mid-single digit to low-double digit tiered royalties, which may be subject to reductions.

The Company determined that the Bayer Collaboration Agreement and a Stock Purchase Agreement entered into with Bayer AG at the same time should be evaluated as a combined contract in accordance with ASC 606, Revenue from Contracts with Customers, given that the agreements were entered into at the same time and have the same commercial objective to provide funding to further the Company’s research utilizing its proprietary technology. The Company identified the elements under the agreements as license and research revenue and the issuance of the common stock. The Company determined the fair value of the shares sold under the Stock Purchase Agreement to be $2.9 million less than the contractual purchase price stipulated in the agreement. In accordance with the applicable accounting guidance in ASC 815-40, Contracts in Entity’s Own Equity, the Company determined that the sale of stock should be recorded at fair value. Therefore, the Company allocated the additional $2.9 million of consideration received under the Stock Purchase Agreement to the Bayer Collaboration Agreement given that the two contracts were determined to be combined contracts. This amount has, therefore, been added to the total transaction price and was included in initial contract liabilities balances.

In December 2017, the Company entered into a Research Collaboration and License Agreement with Pfizer, Inc. (Pfizer) (the Pfizer Collaboration Agreement). Under the terms of the Pfizer Collaboration Agreement, the Company received an upfront non-refundable payment and certain additional payments totaling $28.0 million in 2018 in exchange for use of the Company’s technology license and to fund Pfizer-related research as defined within the agreement. These payments are being recognized as revenue over the total estimated period of performance. The Company is also eligible to receive up to an additional $37.5 million in non-refundable option payments if Pfizer exercises its options for all targets under the agreement. Pfizer has exercised options for $4.9 million as of December 31, 2020. The options are recognized as revenue over the estimated period of performance. The Company is also entitled to receive up to $225 million in development milestone payments and up to $550 million in sales-based milestone payments for all designated targets under the Pfizer Collaboration Agreement, as well as tiered royalties based on sales. Pfizer paid the Company $1.2 million in December 2019 and $3.0 million in 2020 relating to adding additional targets into the collaboration. These payments are being recognized over the estimated period of performance.

In September 2015, the Company entered into an Option and License Agreement with Genentech, Inc. and F. Hoffman-La Roche Ltd. (together, Genentech) (the Genentech Agreement). During 2015, the Company received an upfront non-refundable payment of $11.0 million in exchange for use of the Company’s technology license and to fund Genentech-related research as defined within the Genentech Agreement. In November 2017, the Company entered into an Amended and Restated Option, License, and Collaboration Agreement with Genentech, Inc. and F. Hoffman-La Roche Ltd (the Genentech Modification), amending the Genentech Agreement. Under the Genentech Modification, the Company received additional upfront non-refundable payments of $34.5 million to fund Genentech-related research and Genentech has the right to designate up to ten targets. The Company is eligible to receive up to $27.5 million in additional expansion target payments if Genentech exercises its options on all remaining targets. Upfront non-refundable payments are recognized as revenue over the total estimated period of performance. The Company is eligible to receive up to $44.0 million per target in development milestone payments, $52.5 million in regulatory milestone payments and $60.0 million in commercial milestone payments based on sales as well as tiered royalties based on sales.

Information about contract liabilities, included as deferred revenue in the accompanying Consolidated Balance Sheets, is as follows:

	December 31,
	2020		2019
Contract liabilities	$	45,089,094	$	58,407,407
Revenues recognized in the period from:
Amounts included in deferred revenue in previous periods		18,651,649		14,335,188

Changes in deferred revenue as of December 31, 2020 from 2019 were due to $21.8 million of revenue recognized on the research collaboration and license agreements and additions to deferred revenue of $8.5 million related to the Bayer Collaboration Agreement and Pfizer Collaboration Agreement.

The aggregate amount of the transaction price allocated to performance obligations that are unsatisfied as of December 31, 2020 was $45.1 million, which is expected to be recognized in the following periods (in millions):

2021	$	19.4
2022		19.2
2023		6.5
	$	45.1

Marketable Securities

12 Months Ended

Dec. 31, 2020

Investments Debt And Equity Securities [Abstract]

Marketable Securities

5. Marketable Securities

The following is a summary of the Company’s available-for-sale securities.

	December 31, 2020
Description	Effective Maturity	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Corporate bonds	2021	$	99,596,821	$	560,797	$	-	$	100,157,618
Total		$	99,596,821	$	560,797	$	-	$	100,157,618

	December 31, 2019
Description	Effective Maturity	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Corporate bonds	2020	$	145,359,876	$	49,722	$	—	$	145,409,598
Corporate bonds	2021		126,194,004		57,854		—		126,251,858
Total		$	271,553,880	$	107,576	$	—	$	271,661,456

The following tables summarize the fair values and levels within the fair value hierarchy in which the fair value measurements fall for assets and liabilities measured on a recurring basis as of:

	December 31, 2020
Description	Level 1		Level 2		Level 3		Total
Assets:
Corporate bonds	$	—	$	100,157,618	$	—	$	100,157,618

	December 31, 2019
Description	Level 1		Level 2		Level 3		Total
Assets:
Corporate bonds	$	—	$	271,661,456	$	—	$	271,661,456

The carrying value of account receivable, accounts payable and accrued expenses approximate their fair value due to the short-term nature of these assets and liabilities.

Property, Equipment and Leasehold Improvements

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Property, Equipment and Leasehold Improvements

6. Property, Equipment and Leasehold Improvements

Property, equipment and leasehold improvements consist of the following:

	December 31,
	2020			2019
Laboratory equipment	$	11,100,116		$	8,045,179
Office equipment		1,233,823			865,888
Leasehold improvements		6,058,400			2,809,205
		18,392,339			11,720,272
Less: accumulated depreciation		(6,132,824	)		(3,264,861	)
Property, equipment and leasehold improvements, net	$	12,259,515		$	8,455,411

Depreciation expense totaled $3,166,139, $1,561,557 and $706,000 for the years ended December 31, 2020, 2019 and 2018, respectively.

Right to Use Assets and Liabilities

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Right to Use Assets and Liabilities

7. Right to Use Assets and Liabilities

The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (ROU) assets and operating lease liabilities in the consolidated balance sheets.

ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate ranges from 3.2% – 6.6%. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Some of the Company’s leases include options to extend or terminate the lease. The Company includes these options in the recognition of the Company’s ROU assets and lease liabilities when it is reasonably certain that the Company will exercise the option. The Company has operating leases for its corporate office and certain equipment, which expire no later than September 2024. The leases have a weighted average remaining term of 1.9 years.

The components of lease expense were as follows:

	Year Ended
	December 31,
	2020		2019
Operating lease cost	$	995,228	$	817,057

Supplemental cash flow information related to leases was as follows:

	December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	920,158	$	581,961
Supplemental non-cash information:
Right-of-use assets obtained in exchange for new lease obligations	$	572,413	$	571,886

Maturities of lease liabilities for operating leases as of December 31, 2020 are as follows:

2021	$	1,124,684
2022		1,108,065
Thereafter		12,041
Total lease payments		2,244,790
Less: imputed interest		(204,529	)
Total	$	2,040,261

Prior to January 1, 2019, the Company accounted for its leases in accordance with ASC Topic 840, Leases. At December 31, 2018, the Company was committed under operating leases for its corporate office and certain equipment. Total rent expense under operating leases for the year ended December 31, 2018 was $606,538.

Accrued Expenses

12 Months Ended

Dec. 31, 2020

Payables And Accruals [Abstract]

Accrued Expenses

8. Accrued Expenses

Accrued expenses consisted of the following:

	December 31,
	2020		2019
Employee expenses	$	8,967,126	$	5,810,723
Research and development expenses		8,113,043		1,186,935
Professional fees and other		1,779,671		605,246
	$	18,859,840	$	7,602,904

Long-Term Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt

9. Long-Term Debt

In August 2013, the Company entered into a Loan Agreement (Loan) and a Stock Subscription Warrant, with Connecticut Innovations, Incorporated (CII). Under the Loan, the Company could draw up to $750,000 for the purpose of purchasing laboratory equipment, information technology equipment and leasehold improvements. Leasehold improvements are limited to $100,000. Interest on the Loan was compounded on a monthly basis at a rate of 7.50% per annum and was required to be paid on a monthly basis beginning on the date of the first draw of funds for 10 months, then with principal payments beginning on June 1, 2015 and payable monthly until the maturity date of July 31, 2019. The Company had the ability to prepay the amount due at any time prior to the maturity date without premium or penalty. The Loan was secured by substantially all of the Company’s assets. As of December 31, 2018, the amount outstanding under the Loan was $169,610 and the total unamortized debt discount on the Loan totaled $7,210. The Company paid the loan in full in July 2019. Interest expense recorded related to the amortization of the debt discount in the years ended December 31, 2019 and 2018 was $7,210 and $12,359, respectively.

In connection with an Assistance Agreement with the State of Connecticut (Assistance Agreement) entered into in 2014, under which all the borrowings by the Company were forgiven in accordance with the Assistance Agreement, the Company is required to be located in the State of Connecticut through January 2024, with a default penalty of repayment of the full original funding amount of $2.5 million plus liquidated damages of 7.5%.

In June 2018, the Company entered into an Assistance Agreement with the State of Connecticut (2018 Assistance Agreement) to provide funding for the expansion and renovation of laboratory and office space (Project). Under the terms of the 2018 Assistance Agreement, the Company could borrow from the State of Connecticut a maximum of $2.0 million, provided that the funding does not exceed more than 50% of the total Project costs. In September 2018, the Company borrowed $2.0 million under the 2018 Assistance Agreement, bearing interest at 3.25% per annum and interest payments will be required for the first 60 months from the funding date. Thereafter, the loan begins to fully amortize through month 120, maturing in June 2028. According to the terms of the 2018 Assistance Agreement, up to $1.0 million of the funding can be forgiven if the Company meets certain employment conditions, as defined in the agreement. The Company may also be required to prepay a portion of the loan if the employment conditions are not met. The 2018 Assistance Agreement requires that the Company be located in the State of Connecticut through June 2028 with a default penalty of repayment of the full original funding amount of $2.0 million plus liquidated damages of 7.5% of the total amount of funding received.

Anticipated future minimum payments on long-term debt as of December 31, 2020 are:

2023	$	92,480
2024		377,516
2025		389,970
Beyond 5 years		1,140,034
Total	$	2,000,000

During the years ended December 31, 2020, 2019 and 2018, interest expense was $65,000, $85,569 and $57,440, respectively.

Members' Equity

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Members' Equity

10. Members’ Equity

Common Units

Each common unit entitled the holder to one vote on all matters submitted to a vote of the Company’s members. As noted in Note 1, in September 2018, all issued and outstanding common units were converted into common stock.

Preferred Units

During 2013 and 2014, Arvinas, Inc. sold 22,463,665 shares of Series A Redeemable Convertible Preferred Stock (Series A Preferred Stock) for $15.3 million at a price of $0.6811 per share. The Series A Preferred Stock was subsequently exchanged for Series A Preferred Units in Arvinas LLC upon the reorganization. During 2015, the Company sold 24,977,489 Series B Redeemable Convertible Preferred Units (Series B Preferred Units) in exchange for $41.6 million at a price of $1.6659 per share. In March 2018, the Company entered into a Series C Preferred Unit Purchase Agreement (the Series C Agreement) to raise additional equity. Under the terms of the Series C Agreement, the Company sold 16,467,066 units of Series C Redeemable Convertible Preferred Units (Series C Preferred Units) for $55.0 million at a price of $3.34 per unit. As noted in Note 1, in September 2018, after giving effect of the 3.25 to 1 reverse split, all issued and outstanding preferred units were converted into preferred stock and subsequently into common stock upon the closing of the IPO.

Equity

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Equity

11. Equity

Common Stock

During December 2020, the Company completed a public offering in which the Company issued and sold 6,571,428 shares of common stock at a public offering price of $70.00 per share, which resulted in aggregate net proceeds of $431.9 million, net of underwriter discounts, commissions and offering costs of $28.1 million.

In October 2019, the Company entered into an Equity Distribution Agreement (Distribution Agreement) with Piper Sandler Companies, formerly Piper Jaffray & Co. (Piper Sandler), pursuant to which the Company may offer and sell from time-to-time in an “at-the-market offering,” at its option, up to an aggregate of $100.0 million of shares of the Company’s common stock through Piper Sandler, as sales agent. During year ended December 31, 2020, the Company sold 2,593,637 shares of its common stock resulting in proceeds to the Company of $64.1 million, net of offering costs of $1.6 million.

In November 2019, the Company completed a public offering in which the Company issued and sold 5,227,273 shares of common stock at a public offering price of $22.00 per share. The Company’s aggregate gross proceeds from the sale of shares in the public offering was $115.0 million before fees and expenses of $7.4 million.

In June 2019, the Company entered into a Stock Purchase Agreement with Bayer AG pursuant to which, in connection with the closing in July 2019, the Company issued and sold to Bayer AG 1,346,313 shares of the Company’s common stock (the Shares) for a contractually stated purchase price of $32.5 million. The value of the shares of the Company’s common stock was based on the average of the Company’s common stock for the preceding 60 days prior to the signing of the Stock Purchase Agreement plus a fifteen percent premium. On October 1, 2019, the Company filed a registration statement covering these shares.

Share-based Compensation

In September 2018, the Company adopted the 2018 Employee Stock Purchase Plan (the 2018 ESPP) initially providing participating employees with the opportunity to purchase an aggregate of 311,850 shares of the Company’s common stock. The number of shares of the Company’s common stock reserved for issuance under the 2018 ESPP increased, pursuant to the terms of the 2018 ESPP, by an additional 323,377 shares, equal to 1% of the Company’s then-outstanding common stock, effective as of January 1, 2019, and by an additional 390,371 shares, equal to 1% of the Company’s then-outstanding common stock, effective as of January 1, 2020. The first offering period under the 2018 ESPP commenced on January 1, 2020. During the year ended December 31, 2020, the Company issued 11,046 shares of common stock under the 2018 ESPP. As of December 31, 2020, 1,014,552 shares remained available for purchase.

All of the Company’s employees are eligible to participate in the 2018 ESPP, provided they meet certain employment requirements. On each offering commencement date, each participant will be granted the right to purchase, on the last business day of the offering period, a number of shares of the Company’s common stock determined by multiplying $2,083 by the number of full months in the offering period and dividing that product by the closing price of the Company’s common stock on the first day of the offering period. On the commencement date of each offering period, each eligible employee may authorize up to a maximum of 15% of the compensation he or she receives during the offering period to be deducted by the Company during the offering period. Under the terms of the 2018 ESPP, the purchase price shall be determined by the Company’s board of directors for each offering period and will be at least 85% of the applicable closing price of the Company’s common stock. If the Company’s board of directors does not make a determination of the purchase price, the purchase price will be 85% of the lesser of the closing price of the Company’s common stock on the first business day of the offering period or the last business day of the offering period.

In the Fourth Amendment to the Company’s Incentive Share Plan (the Incentive Plan) adopted in March 2018, the Company was authorized to issue up to an aggregate of 6,199,477 incentive units pursuant to the Incentive Plan. Generally, incentive units were granted at no less than fair value as determined by the board of managers and had vesting periods ranging from one to four years. The Incentive Plan was terminated in September 2018. In September 2018, the Company’s board of directors adopted and the Company’s stockholders approved the 2018 Stock Incentive Plan (the 2018 Plan), which became effective upon the effectiveness of the registration statement on Form S-1 for the Company’s IPO. The number of common shares initially available for issuance under the 2018 Plan equaled the sum of (1) 4,067,007 shares of common stock; plus (2) the number of shares of common stock (up to 1,277,181) issued in respect of incentive units granted under the Incentive Plan that are subject to vesting immediately prior to the effectiveness of the registration statement that expire, terminate or are otherwise surrendered, cancelled, forfeited or repurchased by the Company at their original issuance price pursuant to a contractual repurchase right; plus (3) an annual

increase on the first day of each fiscal year beginning with the fiscal year ended December 31, 2019 and continuing to, and including, the fiscal year ending December 31, 2028, equal to the lowest of 4,989,593 shares of the Company’s common stock, 4% of the number of shares of the Company’s common stock outstanding on the first day of the fiscal year and an amount determined by the Company’s board of directors. The increase in the number of authorized shares for the fiscal years ending December 31, 2020 and 2019 was 1,561,485 and 1,293,510, respectively. Common shares subject to outstanding equity awards that expire or are terminated, surrendered, or cancelled without having been fully exercised or are forfeited in whole or in part shall be available for future grants of awards.

During 2018, the Company granted 1,715,368 incentive units to employees and directors under the Incentive Plan. In September 2018, each outstanding incentive unit was converted into a number of shares of common stock based upon the IPO price. Certain of the shares of common stock issued in respect of incentive units continue to be subject to vesting in accordance with the vesting schedule that was applicable to such incentive units. The Company granted 1,253,263 restricted shares to employees and directors as part of the conversion. The Company also granted 1,744,650 stock options to purchase shares of common stock to employees and directors who were holders of incentive units at the time of the incentive unit conversion. In September 2018, in connection with the conversion of the incentive units, the Company granted 11,097 restricted shares of common stock and 251,010 stock options to purchase shares of common stock to consultants.

For the years ended December 31, 2020, 2019 and 2018, the Company recognized $30,230,858, $20,072,710 and $11,630,300, respectively, of total compensation expense for awards classified as equity awards related to its stock options, restricted stock awards and restricted stock units. At December 31, 2020, there was $22,647,241 of compensation expense that is expected to be recognized over a weighted average period of approximately 2 years.

The fair value of the stock options granted during each of the years was determined using the Black-Scholes option pricing model with the following assumptions:

	2020	2019	2018
Expected volatility	70% - 75%	69% - 71%	68% - 70%
Expected term (years)	5.3 - 7.0	5.5 - 7.0	5.0 - 10.0
Risk free interest rate	0.3% - 1.6%	1.4% - 2.7%	2.6% - 3.1%
Expected dividend yield	0%	0%	0%
Exercise price	$22.70 - $50.00	$17.29 - $37.66	$14.44 - $16.24

Given the Company’s common stock has not been trading for a sufficient period of time, the Company utilizes a collection of volatilities of peer companies to estimate the expected volatility of its common stock. The expected term is calculated utilizing the simplified method.

A summary of the stock option activity under the 2018 Plan as of December 31, 2020 is presented below. These amounts include stock options granted to employees, directors and consultants.

Stock Options	Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at December 31, 2019		3,432,198		$	18.05
Granted		1,424,402		$	43.67
Exercised		(447,113	)	$	17.76
Forfeited		(87,605	)	$	26.94
Outstanding at December 31, 2020		4,321,882		$	26.35		8.4	$	253,193,160
Exercisable at December 31, 2020		1,665,452		$	17.50	$	7.9	$	112,307,482

Included in the stock options granted in the table above are options to purchase 1,995,660 shares of common stock that were granted to employees, directors, and consultants granted at the time of the incentive unit conversion in September 2018 that have the same vesting terms as the profit units that were outstanding in September 2018 before the profit interests were converted into common stock. At the time of issuance of the stock options, 357,658 stock options to purchase shares of common stock became immediately vested, resulting in stock compensation expense of $3,627,507.

The weighted-average grant date fair value of options granted during the years ended December 31, 2020, 2019 and 2018 was $27.45, $13.28 and $9.88, respectively. The total intrinsic value of options exercised during the years ended December 31, 2020, 2019 and 2018 was approximately $19.4 million, $1.9 million and zero, respectively. The excess tax benefit classified as a financing cash flow was not significant for any of the periods presented.

At December 31, 2020, $21.5 million of total unrecognized compensation cost related to non-vested stock options granted under the 2018 Plan is expected to be recognized over the next two years.

A summary of the restricted stock grant activity under the Incentive Plan as of December 31, 2020 is presented below. These amounts include restricted stock granted to employees, directors and consultants.

Restricted Stock Awards	Shares			Weighted Average Grant Date Fair Value Per Share
Unvested restricted stock at December 31, 2019		576,074		$	16.00
Vested		(325,818	)	$	16.00
Forfeited		(11,544	)	$	16.00
Unvested restricted stock at December 31, 2020		238,712		$	16.00

A summary of restricted stock unit activity under the 2018 Plan for the year ended December 31, 2020 is presented below. These amounts include restricted stock units granted to employees.

Restricted Stock Units	Shares			Weighted Average Grant Date Fair Value Per Share
Unvested restricted stock units at December 31, 2019		181,372		$	20.00
Exercised		(45,346	)	$	20.00
Forfeited		(2,977	)	$	19.36
Unvested restricted stock units at December 31, 2020		133,049		$	20.01

At December 31, 2020, there were 217,232 restricted shares under the Incentive Plan, 4,053,998 stock options under the 2018 Plan, and 114,243 restricted stock units under the 2018 Plan that have vested or are expected to vest.

Investment in Equity Method Investee

12 Months Ended

Dec. 31, 2020

Equity Method Investments And Joint Ventures [Abstract]

Investment in Equity Method Investee

12. Investment in Equity Method Investee

In June 2019, the Company entered into an agreement to establish a joint venture (Commitment Agreement) with Bayer CropScience LP (Bayer LP) to research, develop and commercialize PROTAC targeted protein degraders for applications in the field of agriculture. In July 2019, the Company and Bayer LP completed the formation of the joint venture entity, Oerth. Pursuant to the terms of the Commitment Agreement, the Company made an in-kind intellectual property contribution to Oerth in the form of a license to certain of the Company’s proprietary technology. Bayer LP has made a $56.0 million total cash commitment to Oerth, $16.0 million of which Bayer LP has contributed to Oerth during the quarter ended September 30, 2019, and an in-kind intellectual property contribution. The Company and Bayer LP each hold an ownership interest in Oerth initially representing 50% of the ownership interests. A 15% ownership interest of Oerth is reserved for the future grant of incentive units to employees and service providers of Oerth.

Under the Commitment Agreement, the Company has no obligation to provide any additional funding and the Company’s ownership interest will not be diluted from future contributions from Bayer LP. The Company has no exposure to future losses of Oerth. The activities of Oerth are controlled by a management board under the joint control of the Company and Bayer LP. As Oerth is jointly controlled by the Company and Bayer LP, the Company accounts for its 50% interest using the equity method of accounting. The Company determined that Oerth is a variable interest entity and, accordingly, the Company has evaluated the significant activities of Oerth under the variable interest entity model and concluded that the significant activities consist primarily of research and development activities and, as the Company does not have the sole power to direct such activities, the Company is not the primary beneficiary.

The Company will also provide to Oerth compensated research and development services and administrative services through a separate agreement. The services rendered by the Company during the years ended December 31, 2020 and 2019 were insignificant.

The Company determined that the fair value of the equity interest it received in Oerth in exchange for the license contributed was $49.4 million. The fair value of Oerth was determined utilizing discounted cash flows based on reasonable estimates and assumptions of cash flows expected from Oerth.

The Company recognized revenue of $24.7 million attributable to the license contributed to Oerth and eliminated the remaining $24.7 million which corresponds to the Company’s 50% ownership in Oerth. The Company determined that the amount that was eliminated represents intra-entity profit which should be deferred until realized by Oerth. The deferral will be recognized if and when Oerth recognizes revenue associated with the license. Until such time, the remaining $24.7 million of revenue is indefinitely deferred and excluded from the results of operations of the Company. The amount recognized as revenue was treated as such because the licensing of its technology in connection with the formation of a joint venture is part of the Company’s major ongoing or central operations, as evidenced by previous licensing agreements.

Total operating expenses and net loss of Oerth for 2020 was $8.3 million. Total operating expenses and net loss of Oerth for 2019 was $49.8 million, which included research and development expenses equal to $49.4 million for the fair value of the license acquired from Arvinas. The Company’s initial investment in Oerth was $49.4 million which represented the fair value of shares received in exchange for the contribution of the license. The elimination of the intra-entity profit component of the revenue resulted in a reduction in the balance of the investment in Oerth, bringing its initial carrying value of the investment to $24.7 million. During 2019, the Company recorded equity method losses of $24.7 million based on its proportionate share of ownership. After recognition of its proportionate share of Oerth’s losses for the period the carrying value of the investment as of December 31, 2019 was reduced to $0, and, as a result, no additional losses were recorded against the carrying value of the investment during the year ended December 30, 2020.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

13. Income Taxes

The Company has had no income tax expense due to operating losses incurred for the years ended December 31, 2020 and 2019. The Company has also not recorded any income tax benefits for the net operating losses incurred in each period due to its uncertainty of realizing a benefit from those items. All of the Company’s losses before income taxes were generated in the United States.

A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate for the years ended December 31, 2020, 2019 and 2018 is as follows:

	2020			2019			2018
Federal statutory rate		21.0	%		21.0	%		21.0	%
Federal research tax credit		4.1	%		3.5	%		2.5	%
Stock compensation		(1.7	)%		(2.2	)%		(3.3	)%
Change in valuation allowance		(23.3	)%		(22.0	)%		(20.3	)%
Other		(0.1	)%		(0.3	)%		0.1	%
		0.0	%		0.0	%		0.0	%

Deferred income taxes represent the tax effect of transactions that are reported in different periods for financial and tax reporting purposes. Temporary differences and carryforwards that give rise to a significant portion of the deferred income tax benefits and liabilities are as follows at December 31, 2020 and 2019:

	2020			2019
Deferred income tax assets:
Loss carryforwards	$	43,074,539		$	21,733,983
Deferred revenue		8,978,710			7,871,790
Tax credits		10,070,208			5,121,644
Stock compensation		5,038,675			3,580,768
Other		172,170			183,118
Total deferred income tax assets		67,334,302			38,491,303
Deferred income tax liabilities
Other		(43,103	)		(35,011	)
Property, equipment and leasehold improvements		(2,377,997	)		(1,293,932	)
Total deferred income tax liabilities		(2,421,100	)		(1,328,943	)
Less valuation allowance		(64,913,202	)		(37,162,360	)
Net deferred income tax assets	$	—		$	—

The Company has provided a valuation allowance against the full amount of the deferred tax assets since, in the opinion of management, based upon the history of losses of the Company, it is more likely than not that the benefits will not be realized. All or a portion of the remaining valuation allowance may be reduced in future years based on an assessment of earnings sufficient to utilize these potential tax benefits. The valuation allowance increased by $27.8 million in 2020 and $15.4 million in 2019 due to the increase in the net operating loss carryforwards, stock compensation expense and research and development tax credits.

The Company had approximately $205.1 million and $103.5 million of federal net operating loss carryforwards as of December 31, 2020 and 2019, respectively. Federal net operating loss carryforwards as of December 31, 2017 expire at various dates through fiscal year 2037 and federal net operating losses incurred in 2018 and in future years may be carried forward indefinitely, but the deductibility of such carryforwards is limited to 80% of the Company’s taxable income in the year in which carryforwards are used. The Company believes the federal net operating losses are subject to an annual limitation as a result of changes in the Company’s ownership, as defined by Federal Internal Revenue Code Section 382, in November 2019. Notwithstanding the limitations, the Company expects the federal net operating losses to be fully available under Section 382 within the next two years. The Company had approximately $10.1 million and $5.1 million of federal tax credit carryforwards as of December 31, 2020 and 2019, respectively, which expire at various dates through fiscal year 2040. The Company estimates that its federal credits will not be subject to the Section 382 limitation and the federal tax credits will be available to offset future federal income tax within the next two years.

The Company complies with the provisions of ASC 740 in accounting for its uncertain tax positions. ASC 740 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position.

The Company recognizes interest accrued related to unrecognized tax benefits and penalties in tax expense. The Company had no accruals for interest and penalties at December 31, 2020 and 2019.

The Company is required to file income tax returns in the U.S. Federal jurisdiction, and in the States of Connecticut, Massachusetts and North Carolina. The Company is a state franchise taxpayer due to the Company’s loss position. As a result, there is no state income tax provision included in the financial statements. The 2016 tax year forward remain subject to future examinations by the applicable taxing authorities.

F-23

For the years ended December 31, 2020, 2019 and 2018, the Company recorded a benefit from expected cash refunds to be provided by the State of Connecticut, equal to 65% of research and development credits, of $1.8 million, $1.4 million and $0.1 million, respectively, which is included in Other Income in the accompanying consolidated statement of operations and comprehensive loss, due to the Company being a state franchise taxpayer. The benefit results from the exchange of the state research and development tax credit carryforwards for cash refunds. At December 31, 2020 and 2019, the Company has recorded receivables of $3.2 million and $1.4 million, respectively, relating to research and development credits due to the Company.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

14. Commitments and Contingencies

Consulting and Sponsored Research Agreement Commitments

In July 2016, the Company entered into a Corporate Sponsored Research Agreement (SRA) with Yale University, which was amended in April 2018. The amended SRA extended the agreement until April 2021 and amended the scope of work. The amended SRA requires quarterly payments of $250,000 through the end of the agreement. The total payments made under the SRA for 2020, 2019 and 2018 were $1,000,000, $1,000,000 and $851,161, respectively.

The Company entered into a consulting agreement with its Chief Scientific Advisor in 2018, which extends into 2021, and requires monthly payments of $20,833. During the years ended December 31, 2020, 2019 and 2018, the Company paid $250,000, $250,000 and $176,110, respectively, pursuant to this consulting agreement.

Net Loss Per Common Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Net Loss Per Common Share

15. Net Loss Per Common Share

Basic and diluted loss per common share were calculated as follows:

	2020			2019			2018
Net loss	$	(119,332,064	)	$	(70,292,227	)	$	(41,480,466	)
Change in redemption value of preferred units		-			-			(198,366,756	)
Net loss attributable to common shares – basic and diluted	$	(119,332,064	)	$	(70,292,227	)	$	(239,847,222	)
Weighted average number of common shares outstanding, basic and diluted		39,534,497			32,927,697			9,422,799
Net loss per common share	$	(3.02	)	$	(2.13	)	$	(25.45	)

The Company’s potential dilutive securities have been excluded from the computation of diluted net loss per common share as the effect would be to reduce the net loss per common share. The following common share equivalents have been excluded from the calculations of diluted loss per common share because their inclusion would have been antidilutive.

	2020		2019		2018
Stock options		4,321,882		3,432,198		2,273,024
Restricted stock awards		238,712		576,074		1,102,289
Restricted stock units		133,049		181,372		-
		4,693,643		4,189,644		3,375,313

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements of the Company include the accounts of Arvinas, Inc. and its wholly owned subsidiaries. All intercompany transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts and disclosures in the financial statements and notes. While management believes that estimates and assumptions used in the preparation of the consolidated financial statements and notes are appropriate, actual results could differ from those estimates. The most significant estimates are those used in determination of the Company’s revenue recognition, research and development expenses, fair value of its common and preferred units, preferred unit warrant liability, incentive equity compensation, and fair value of its investment in a joint venture, Oerth Bio LLC (Oerth).
Financial Instruments	Financial Instruments The Company’s principal financial instruments comprise cash, marketable securities, account receivable, accounts payable, accrued liabilities and long-term debt. The carrying value of all financial instruments approximates fair value.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company classifies as cash and cash equivalents amounts on deposit in banks and cash invested temporarily in various instruments, primarily money market accounts, with original maturities of three months or less at time of purchase. The carrying amounts reported in the consolidated balance sheets represent the fair values of cash and cash equivalents.
Concentration of Credit Risk	Concentration of Credit Risk The Company maintains its cash in financial institution accounts that, at times during the year, may exceed federally insured limits. The cash balances in the financial institutions are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. Cash may also be maintained at commercial institutions that are not insured by the FDIC. For the year ended December 31, 2020, 100% of the Company’s revenue was attributable to three collaborators representing 37%, 32% and 31%, respectively, and one collaborator accounted for the entire accounts receivable balance. For the year ended December 31, 2019, 57% of the Company’s revenue was attributable to a license contributed to Oerth, and two collaborators represented 19% and 16% of total revenue. For the year ended December 31, 2018, two collaborators each represented over 45% of total revenue.
Marketable Securities	Marketable Securities The Company classifies its marketable securities as available-for-sale securities, which are carried at their fair value based on the quoted market prices of the securities with unrealized gains and losses reported as accumulated other comprehensive loss, a separate component of stockholders’/members’ equity. Realized gains and losses on available-for-sale securities are included in net earnings in the period earned or incurred.
Property, Equipment, and Leasehold Improvements	Property, Equipment, and Leasehold Improvements Property and equipment are recorded at cost. Depreciation is calculated using the straight-line method over the estimated useful lives, which range from three years for office equipment to five years for laboratory equipment. Maintenance and repairs which do not extend the lives of the assets are charged directly to expense as incurred. Upon retirement or disposal, cost and related accumulated depreciation are removed from the related accounts, and any resulting gain or loss is recognized as a component of income or loss for the period. Leasehold improvements are recorded at cost and amortized using the straight-line method over the shorter of the lease term or the useful life of the asset.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets When indications of potential impairments are present, the Company evaluates the carrying value of long-lived assets. The Company adjusts the carrying value of the long-lived assets if the sum of undiscounted expected future cash flows is less than carrying value. No such impairments were recorded during 2020, 2019 or 2018.
Segment Information	Segment Information The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. All of the Company’s tangible assets are held in the United States. To date, all of the Company’s revenue has been generated in the United States.
Revenue Recognition and Deferred Revenue	Revenue Recognition and Deferred Revenue Revenues from Contracts The Company recognizes revenue under Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers. The Company’s revenue is generated through research collaboration and license agreements with pharmaceutical partners. The terms of these agreements contain multiple goods and services which may include (i) licenses, (ii) research and development activities, and (iii) participation in joint research and development steering committees. The terms of these agreements may include non-refundable upfront license or option fees, payments for research and development activities, payments upon the achievement of certain milestones, and royalty payments based on product sales derived from the collaboration. Under ASC 606, the Company evaluates whether the license agreement, research and development services, and participation in research and development steering committees, represent separate or combined performance obligations. The Company has determined that these services within its existing contracts represent a combined single performance obligation. The research collaboration and license agreements typically include contingent milestone payments related to specified preclinical and clinical development milestones and regulatory milestones. These milestone payments represent variable consideration to be included within the transaction price using the most likely amount method. The Company determined that the most likely amount to be recognized was zero, against which no constraint was applied. The Company will continue to assess the probability of significant reversals for any amounts that become likely to be realized prior to recognizing the variable consideration associated with these payments within the transaction price. Revenue is recognized ratably over the Company’s expected performance period under each respective arrangement. The Company makes its best estimate of the period over which the Company expects to fulfill the Company’s performance obligations, which includes access to technology through the license agreement and research activities. Given the uncertainties of these collaboration arrangements, significant judgment is required to determine the duration of the performance period. For the years ended December 31, 2020, 2019 and 2018, the transaction price allocated to the combined performance obligation identified under the agreements is recognized as revenue on a straight-line basis over the estimated performance period under each respective arrangement. Straight-line basis was considered the best measure of progress in which control of the combined obligation transfers to the customers, due to the contract containing license rights to technology, research and development services, and joint committee participation, which in totality are expected to occur ratably over the performance period. The Company’s contracts may also call for certain sales-based milestone and royalty payments upon successful commercialization of a target. The Company recognizes revenues from sales-based milestone and royalty payments at the later of a) the occurrence of the subsequent sale; or b) the performance obligation to which some or all of the sales-based milestone or royalty payments has been allocated has been satisfied (or partially satisfied). The Company anticipates recognizing these milestones and royalty payments if and when subsequent sales are generated by the customer from the use of the technology. To date, no revenue from these sales-based milestone and royalty payments has been recognized for any periods. Amounts received prior to satisfying the above revenue recognition criteria are recorded as a contract liability in the Company’s accompanying consolidated balance sheets. The Company also recognized revenue under ASC 606 from its contribution of a license to Oerth. See Note 12.
Equity Method Investments	Equity Method Investments The Company accounts for investments for which it does not have a controlling interest in accordance with ASC 323, Investments – Equity Method and Joint Ventures. The Company recognizes its pro-rata share of income and losses in the investment in “Loss from equity method investment” on the consolidated statement of operations and comprehensive loss, with a corresponding change to the investment in equity method investment on the consolidated balance sheet until such investment is reduced to $0.
Preferred Unit Warrants	Preferred Unit Warrants Preferred unit warrants issued in conjunction with debt financings were initially recorded at fair value, using a Black-Scholes option pricing model, with a corresponding discount recorded against the face value of the note and a liability. The discount was then accreted against the face value of the note over its remaining term as additional interest expense. The Company classified warrants to purchase shares of its Series A Redeemable Convertible Preferred Units (Series A Preferred Units) as a liability on its balance sheets as these warrants were free-standing financial instruments that were exercisable for contingently redeemable shares. The preferred unit warrants were recorded in long-term liabilities at fair value, estimated using the Black-Scholes option pricing model, and marked to market at each balance sheet date. The change in carrying value was reported as the change in fair value of warrant liability in the accompanying consolidated statements of operations. The outstanding warrants were exercised in July 2018 and no warrants were outstanding as of December 31, 2020 and 2019.
Income Taxes	Income Taxes Prior to the conversion to a C-corporation, Arvinas LLC was taxed under the provisions of Subchapter K—Partners and Partnerships of the Internal Revenue Code. Under those provisions, Arvinas LLC did not pay federal or state corporate income taxes on its taxable income. Instead, each member would include net operating income or loss for Arvinas LLC on its individual return. Arvinas LLC was converted to a C-corporation in 2018. Arvinas, Inc. and its wholly owned subsidiaries use the asset and liability method of accounting for income taxes, as set forth in ASC 740, Accounting for Income Taxes. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequence of temporary differences between the carrying amounts and the tax basis of assets and liabilities and net operating loss carry forwards, all calculated using presently enacted tax rates. Management has evaluated the effect of ASC 740 guidance related to uncertain income tax positions and concluded that the Company has no significant uncertain income tax positions at December 31, 2020 and 2019.
Equity-based Compensation	Equity-based Compensation Prior to its IPO, the Company periodically granted incentive units to employees and non-employees, which generally vested over a four-year period. The incentive units represented a separate substantive class of equity with defined rights within the limited liability company agreement of Arvinas Holding Company, LLC (the LLC Operating Agreement). The incentive units represented profits interests in the Company, which was an interest in the increase in the value of the entity over the Participation Threshold, as defined in the LLC Operating Agreement and as determined at the time of grant. The holder, therefore, had the right to participate in distributions of profits only in excess of the Participation Threshold. The Participation Threshold was based on the valuation of the common unit on or around the grant date. The Company accounted for incentive units granted in accordance with ASC 718, Compensation-Stock Compensation (ASC 718). In accordance with ASC 718, compensation expense is measured at estimated fair value of the incentive units and is included as compensation expense over the vesting period during which an employee provides service in exchange for the award. The Company measures employee, board of director and consultant equity-based compensation for stock option and restricted stock grants based on the grant date fair value of the equity awards. Equity-based compensation expense is recognized over the requisite service period of the awards, net of estimated forfeitures. Estimated forfeitures are updated on a periodic basis based on actual experience. For equity awards that have a performance condition, the Company recognizes compensation expense based on its assessment of the probability that the performance condition will be achieved. The Company classifies equity-based compensation expense in its consolidated statement of operations in the same manner in which the award recipient’s salary and related costs are classified or in which the award recipient’s service payments are classified.
Research and Development Expenses	Research and Development Expenses Research and development expenses include (i) employee-related expenses, including salaries, benefits, travel and stock-based compensation expense; (ii) external research and development expenses incurred under arrangements with third parties, such as contract research organization agreements, investigational sites, and consultants; (iii) the cost of acquiring, developing, and manufacturing clinical study materials; (iv) costs associated with preclinical and clinical activities and regulatory operations; and (v) costs incurred in development of intellectual property. Costs incurred in connection with research and development activities are expensed as incurred. The Company enters into consulting, research, and other agreements with commercial entities, researchers, universities, and others for the provision of goods and services. Such arrangements are generally cancelable upon reasonable notice and payment of costs incurred. Costs are considered incurred based on an evaluation of the progress to completion of specific tasks under each contract using information and data provided by the respective vendors, including the Company’s clinical sites. These costs consist of direct and indirect costs associated with specific projects, as well as fees paid to various entities that perform certain research on behalf of the Company. Depending upon the timing of payments to the service providers, the Company recognizes prepaid expenses or accrued expenses related to these costs. These accrued or prepaid expenses are based on management’s estimates of the work performed under service agreements, milestones achieved, and experience with similar contracts. The Company monitors each of these factors and adjusts estimates accordingly.
Fair Value Measurements	Fair Value Measurements ASC Topic 820, Fair Value Measurements and Disclosures, requires disclosure of the fair value of financial instruments held by the Company. ASC 825, Financial Instruments, defines fair value and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The three levels of valuation hierarchy are defined as follows: Level 1—Inputs are based upon observable or quoted prices for identical instruments traded in active markets. Level 2—Inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. The Company’s Level 2 investments consist primarily of corporate notes and bonds and U.S. government and agency securities. Level 3—Inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value. The Company’s marketable securities consist of corporate bonds which are adjusted to fair value each balance sheet date, based on quoted prices, which are considered Level 2 inputs (see Note 5). During the year ended December 31, 2019, a non-recurring fair value measurement was applied to determine the fair value of the non-cash consideration of 50% equity ownership received related to Oerth. The fair value measurement was determined using an income approach based primarily on utilizing management’s estimates of future cash flows as inputs, which are considered Level 3 measurements within the above fair value hierarchy.
Net Loss per Common Share	Net Loss per Common Share Basic net loss per common share is computed by dividing net loss, after adjusting for redeemable preferred unit dividends, by the weighted-average number of common shares outstanding during the period. The change in current redemption value of the redeemable preferred units was treated as a deemed dividend for the period during 2018 prior to conversion to common units. Diluted net loss per share was computed using the weighted-average number of common shares outstanding during the period and, if dilutive, the weighted average number of potential shares of common shares. The effect of the conversion of redeemable preferred units into common units was excluded from the computation of diluted net loss per common share for all periods as their effect was antidilutive. Additionally, common share equivalents are excluded from the computation of diluted net loss per common share for all periods as their effect is antidilutive.
New Accounting Pronouncements	New Accounting Pronouncements Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses, which provides a model for recognizing credit losses on financial instruments based on an estimate of current expected losses, requiring immediate recognition of credit losses expected over the life of a financial instrument. The Company adopted ASU 2016-13 in the first quarter of 2020. The adoption of the standard was immaterial to the accompanying consolidated financial statements. Other accounting standards that have been issued by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption.

Research Collaboration and License Agreements (Tables)

12 Months Ended

Dec. 31, 2020

Research Collaboration And License Agreements [Abstract]

Summary of Contract Liabilities

Information about contract liabilities, included as deferred revenue in the accompanying Consolidated Balance Sheets, is as follows:

	December 31,
	2020		2019
Contract liabilities	$	45,089,094	$	58,407,407
Revenues recognized in the period from:
Amounts included in deferred revenue in previous periods		18,651,649		14,335,188

Transaction Price Allocated to Performance Obligations

2021	$	19.4
2022		19.2
2023		6.5
	$	45.1

Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2020

Investments Debt And Equity Securities [Abstract]

Summary of Company's Available for Sale Securities

The following is a summary of the Company’s available-for-sale securities.

	December 31, 2020
Description	Effective Maturity	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Corporate bonds	2021	$	99,596,821	$	560,797	$	-	$	100,157,618
Total		$	99,596,821	$	560,797	$	-	$	100,157,618

	December 31, 2019
Description	Effective Maturity	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Corporate bonds	2020	$	145,359,876	$	49,722	$	—	$	145,409,598
Corporate bonds	2021		126,194,004		57,854		—		126,251,858
Total		$	271,553,880	$	107,576	$	—	$	271,661,456

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables summarize the fair values and levels within the fair value hierarchy in which the fair value measurements fall for assets and liabilities measured on a recurring basis as of:

	December 31, 2020
Description	Level 1		Level 2		Level 3		Total
Assets:
Corporate bonds	$	—	$	100,157,618	$	—	$	100,157,618

	December 31, 2019
Description	Level 1		Level 2		Level 3		Total
Assets:
Corporate bonds	$	—	$	271,661,456	$	—	$	271,661,456

Property, Equipment and Leasehold Improvements (Tables)

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Schedule of Property, Equipment and Leasehold Improvements

Property, equipment and leasehold improvements consist of the following:

	December 31,
	2020			2019
Laboratory equipment	$	11,100,116		$	8,045,179
Office equipment		1,233,823			865,888
Leasehold improvements		6,058,400			2,809,205
		18,392,339			11,720,272
Less: accumulated depreciation		(6,132,824	)		(3,264,861	)
Property, equipment and leasehold improvements, net	$	12,259,515		$	8,455,411

Right to Use Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Components of Lease Expense

The components of lease expense were as follows:

	Year Ended
	December 31,
	2020		2019
Operating lease cost	$	995,228	$	817,057

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:

	December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	920,158	$	581,961
Supplemental non-cash information:
Right-of-use assets obtained in exchange for new lease obligations	$	572,413	$	571,886

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities for operating leases as of December 31, 2020 are as follows:

2021	$	1,124,684
2022		1,108,065
Thereafter		12,041
Total lease payments		2,244,790
Less: imputed interest		(204,529	)
Total	$	2,040,261

Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2020

Payables And Accruals [Abstract]

Components of Accrued Expenses

Accrued expenses consisted of the following:

	December 31,
	2020		2019
Employee expenses	$	8,967,126	$	5,810,723
Research and development expenses		8,113,043		1,186,935
Professional fees and other		1,779,671		605,246
	$	18,859,840	$	7,602,904

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Anticipated Future Minimum Payments on Long-Term Debt Excluding Discount on Debt

Anticipated future minimum payments on long-term debt as of December 31, 2020 are:

2023	$	92,480
2024		377,516
2025		389,970
Beyond 5 years		1,140,034
Total	$	2,000,000

Equity (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Assumptions Used to Determine Fair Value of Stock Options Granted

The fair value of the stock options granted during each of the years was determined using the Black-Scholes option pricing model with the following assumptions:

	2020	2019	2018
Expected volatility	70% - 75%	69% - 71%	68% - 70%
Expected term (years)	5.3 - 7.0	5.5 - 7.0	5.0 - 10.0
Risk free interest rate	0.3% - 1.6%	1.4% - 2.7%	2.6% - 3.1%
Expected dividend yield	0%	0%	0%
Exercise price	$22.70 - $50.00	$17.29 - $37.66	$14.44 - $16.24

Summary of Stock Option Activity

A summary of the stock option activity under the 2018 Plan as of December 31, 2020 is presented below. These amounts include stock options granted to employees, directors and consultants.

Stock Options	Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at December 31, 2019		3,432,198		$	18.05
Granted		1,424,402		$	43.67
Exercised		(447,113	)	$	17.76
Forfeited		(87,605	)	$	26.94
Outstanding at December 31, 2020		4,321,882		$	26.35		8.4	$	253,193,160
Exercisable at December 31, 2020		1,665,452		$	17.50	$	7.9	$	112,307,482

Summary of Restricted Stock Grant Activity

Restricted Stock Awards	Shares			Weighted Average Grant Date Fair Value Per Share
Unvested restricted stock at December 31, 2019		576,074		$	16.00
Vested		(325,818	)	$	16.00
Forfeited		(11,544	)	$	16.00
Unvested restricted stock at December 31, 2020		238,712		$	16.00

Restricted Stock Units

Summary of Restricted Stock Grant Activity

A summary of restricted stock unit activity under the 2018 Plan for the year ended December 31, 2020 is presented below. These amounts include restricted stock units granted to employees.

Restricted Stock Units	Shares			Weighted Average Grant Date Fair Value Per Share
Unvested restricted stock units at December 31, 2019		181,372		$	20.00
Exercised		(45,346	)	$	20.00
Forfeited		(2,977	)	$	19.36
Unvested restricted stock units at December 31, 2020		133,049		$	20.01

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Reconciliation of the U.S. Federal Statutory Income Tax Rate to Effective Income Tax Rate

A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate for the years ended December 31, 2020, 2019 and 2018 is as follows:

	2020			2019			2018
Federal statutory rate		21.0	%		21.0	%		21.0	%
Federal research tax credit		4.1	%		3.5	%		2.5	%
Stock compensation		(1.7	)%		(2.2	)%		(3.3	)%
Change in valuation allowance		(23.3	)%		(22.0	)%		(20.3	)%
Other		(0.1	)%		(0.3	)%		0.1	%
		0.0	%		0.0	%		0.0	%

Summary of Deferred Income Taxes

Temporary differences and carryforwards that give rise to a significant portion of the deferred income tax benefits and liabilities are as follows at December 31, 2020 and 2019:

	2020			2019
Deferred income tax assets:
Loss carryforwards	$	43,074,539		$	21,733,983
Deferred revenue		8,978,710			7,871,790
Tax credits		10,070,208			5,121,644
Stock compensation		5,038,675			3,580,768
Other		172,170			183,118
Total deferred income tax assets		67,334,302			38,491,303
Deferred income tax liabilities
Other		(43,103	)		(35,011	)
Property, equipment and leasehold improvements		(2,377,997	)		(1,293,932	)
Total deferred income tax liabilities		(2,421,100	)		(1,328,943	)
Less valuation allowance		(64,913,202	)		(37,162,360	)
Net deferred income tax assets	$	—		$	—

Net Loss Per Common Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Basic and Diluted Loss per Common Share

Basic and diluted loss per common share were calculated as follows:

	2020			2019			2018
Net loss	$	(119,332,064	)	$	(70,292,227	)	$	(41,480,466	)
Change in redemption value of preferred units		-			-			(198,366,756	)
Net loss attributable to common shares – basic and diluted	$	(119,332,064	)	$	(70,292,227	)	$	(239,847,222	)
Weighted average number of common shares outstanding, basic and diluted		39,534,497			32,927,697			9,422,799
Net loss per common share	$	(3.02	)	$	(2.13	)	$	(25.45	)

Common Share Equivalents Excluded from the Calculations of Diluted Loss Per Common Share

The following common share equivalents have been excluded from the calculations of diluted loss per common share because their inclusion would have been antidilutive.

	2020		2019		2018
Stock options		4,321,882		3,432,198		2,273,024
Restricted stock awards		238,712		576,074		1,102,289
Restricted stock units		133,049		181,372		-
		4,693,643		4,189,644		3,375,313

Nature of Business and Basis of Presentation - Additional Information (Details)		1 Months Ended				12 Months Ended
	Oct. 01, 2018 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Nov. 30, 2019 USD ($) $ / shares shares	Oct. 31, 2018 $ / shares shares	Sep. 30, 2018	Dec. 31, 2020 USD ($) Subsidiary $ / shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Nature Of Business [Line Items]
Number of wholly owned subsidiaries \| Subsidiary						4
Reverse stock split, conversion ratio					3.25
Fees and expenses \| $	$ 12,000,000.0					$ 27,650,184	$ 597,131	$ 3,423,589
Preferred stock outstanding	0
Restricted Stock
Nature Of Business [Line Items]
Restricted shares issued	1,268,923
Common Stock
Nature Of Business [Line Items]
Reverse stock split, description						The Company’s Board of Managers approved a one-for-3.25 reverse stock split of its issued and outstanding shares of common units
Reverse stock split, conversion ratio	0.3077
Common shares issued	1,795,221
Gross proceeds from sale of shares in Initial public offering before fees and expenses \| $	$ 123,200,000	$ 431,900,000	$ 115,000,000.0
Common stock issued for conversion of convertible preferred stock	19,697,928
Common Stock \| Initial Public Offering
Nature Of Business [Line Items]
Issuance of common stock, net of underwriters' discounts and issuance costs, Shares	7,500,000	6,571,428	5,227,273
Share price, issued and sold \| $ / shares	$ 16.00	$ 70.00	$ 22.00			$ 70.00
Common Stock \| Over-Allotment Option
Nature Of Business [Line Items]
Issuance of common stock, net of underwriters' discounts and issuance costs, Shares				200,482
Share price, issued and sold \| $ / shares				$ 16.00

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary Of Significant Accounting Policies [Line Items]
Impairment of long lived assets	$ 0	$ 0	$ 0
Equity method investments	$ 0
Warrants outstanding	0	0
Incentive units vesting period	4 years
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, immaterial effect	true
Office Equipment
Summary Of Significant Accounting Policies [Line Items]
Property and equipment, estimated useful life	3 years
Laboratory Equipment
Summary Of Significant Accounting Policies [Line Items]
Property and equipment, estimated useful life	5 years
Oerth
Summary Of Significant Accounting Policies [Line Items]
Equity method investments		$ 0
Equity method investment ownership percentage	50.00%	50.00%
Accounts Receivable \| Customer Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	100.00%
Revenue Benchmark \| Customer Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	100.00%
Revenue Benchmark \| Customer Concentration Risk \| Collaborator One
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	37.00%	19.00%
Revenue Benchmark \| Customer Concentration Risk \| Collaborator Three
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	31.00%
Revenue Benchmark \| Customer Concentration Risk \| Collaborator Two
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	32.00%	16.00%
Revenue Benchmark \| Customer Concentration Risk \| Oerth
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		57.00%
Minimum \| Revenue Benchmark \| Customer Concentration Risk \| Collaborator One
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage			45.00%
Minimum \| Revenue Benchmark \| Customer Concentration Risk \| Collaborator Two
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage			45.00%
Maximum
Summary Of Significant Accounting Policies [Line Items]
Federal deposit insurance corporation premium expense	$ 250,000

License Agreements - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jul. 31, 2013	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2015
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Payment for license agreement		$ 150,000	$ 150,000	$ 75,000
Minimum
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Annual payment for license		75,000
Yale University
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Non-refundable upfront payment	$ 149,511
Reimbursed patent costs		196,167	$ 352,663	$ 216,093
Yale University \| Minimum
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Royalty payment		200,000
Yale University \| Maximum
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Royalty payment		$ 500,000
Payment for sublicense agreement					$ 750,000

Research Collaboration and License Agreements - Additional Information (Details)	1 Months Ended	4 Months Ended	12 Months Ended
	Nov. 30, 2017 USD ($) Target	Dec. 31, 2015 USD ($)	Dec. 31, 2020 USD ($) Contract	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2022 USD ($)	Jul. 31, 2019 USD ($)
Research Collaboration And License Agreements [Line Items]
Changes in deferred revenue due to additions to deferred revenue			$ (13,318,313)	$ 4,856,736	$ (8,548,090)
Revenue recognized on research collaboration and license agreements			21,800,000
Unsatisfied performance obligations expected to be recognized as revenue			45,100,000
Bayer Collaboration Agreement
Research Collaboration And License Agreements [Line Items]
Contract revenue receivable if milestones achieved or options for all targets exercised							$ 17,500,000
Bayer Collaboration Agreement \| Research Funding Payments
Research Collaboration And License Agreements [Line Items]
Contract revenue receivable if milestones achieved or options for all targets exercised			3,000,000.0				1,500,000
Bayer Collaboration Agreement \| Research Funding Payments \| Scenario Forecast
Research Collaboration And License Agreements [Line Items]
Contract revenue receivable if milestones achieved or options for all targets exercised						$ 10,500,000
Bayer Collaboration Agreement \| Development Milestone Payments \| Maximum
Research Collaboration And License Agreements [Line Items]
Contract revenue receivable if milestones achieved or options for all targets exercised							197,500,000
Bayer Collaboration Agreement \| Sales-based Milestone Payments \| Maximum
Research Collaboration And License Agreements [Line Items]
Contract revenue receivable if milestones achieved or options for all targets exercised							$ 490,000,000.0
Bayer Collaboration Agreement \| Stock Purchase Agreement
Research Collaboration And License Agreements [Line Items]
Fair value of the shares sold			2,900,000
Additional consideration received			$ 2,900,000
Number of contracts to be combined \| Contract			2
Pfizer, Inc.
Research Collaboration And License Agreements [Line Items]
Upfront non-refundable payment and certain additional payments received					$ 28,000,000.0
Pfizer, Inc. \| Development Milestone Payments \| Maximum
Research Collaboration And License Agreements [Line Items]
Contract revenue receivable if milestones achieved or options for all targets exercised			$ 225,000,000
Pfizer, Inc. \| Sales-based Milestone Payments \| Maximum
Research Collaboration And License Agreements [Line Items]
Contract revenue receivable if milestones achieved or options for all targets exercised			550,000,000
Pfizer, Inc. \| Option Exercised
Research Collaboration And License Agreements [Line Items]
Contract revenue receivable if milestones achieved or options for all targets exercised			4,900,000
Pfizer, Inc. \| Option Payments \| Maximum
Research Collaboration And License Agreements [Line Items]
Contract revenue receivable if milestones achieved or options for all targets exercised			37,500,000
Pfizer, Inc. \| Substitution Target Payments
Research Collaboration And License Agreements [Line Items]
Contract revenue receivable if milestones achieved or options for all targets exercised			3,000,000.0	$ 1,200,000
Genentech, Inc. and F. Hoffman-La Roche Ltd.
Research Collaboration And License Agreements [Line Items]
Upfront non-refundable payment and certain additional payments received	$ 34,500,000	$ 11,000,000.0
Number of designated targets \| Target	10
Genentech, Inc. and F. Hoffman-La Roche Ltd. \| Development Milestone Payments \| Maximum
Research Collaboration And License Agreements [Line Items]
Contract revenue receivable if milestones achieved or options for all targets exercised	$ 44,000,000.0
Genentech, Inc. and F. Hoffman-La Roche Ltd. \| Option Payments \| Maximum
Research Collaboration And License Agreements [Line Items]
Contract revenue receivable if milestones achieved or options for all targets exercised	27,500,000
Genentech, Inc. and F. Hoffman-La Roche Ltd. \| Regulatory Milestone Payments
Research Collaboration And License Agreements [Line Items]
Contract revenue receivable if milestones achieved or options for all targets exercised	52,500,000
Genentech, Inc. and F. Hoffman-La Roche Ltd. \| Commercial Milestones
Research Collaboration And License Agreements [Line Items]
Contract revenue receivable if milestones achieved or options for all targets exercised	$ 60,000,000.0
Bayer and Pfizer Collaboration Agreement
Research Collaboration And License Agreements [Line Items]
Changes in deferred revenue due to additions to deferred revenue			$ 8,500,000

Research Collaboration and License Agreements - Summary of Contract Liabilities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Contract liabilities	$ 45,089,094	$ 58,407,407
Amounts included in deferred revenue in previous periods	$ 18,651,649	$ 14,335,188

Research Collaboration and License Agreements - Transaction Price Allocated to Performance Obligations (Details) $ in Millions	Dec. 31, 2020 USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 45.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 19.4
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 19.2
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 6.5
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year

Research Collaboration and License Agreements - Transaction Price Allocated to Performance Obligations (Details1) $ in Millions	Dec. 31, 2020 USD ($)
Revenue From Contract With Customer [Abstract]
Revenue, remaining performance obligation	$ 45.1

Marketable Securities - Summary of Company's Available for Sale Securities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 99,596,821	$ 271,553,880
Gross Unrealized Gains	560,797	107,576
Fair Value	$ 100,157,618	$ 271,661,456
Corporate Bonds Maturing 2021
Schedule Of Available For Sale Securities [Line Items]
Effective Maturity	2021	2021
Amortized Cost	$ 99,596,821	$ 126,194,004
Gross Unrealized Gains	560,797	57,854
Fair Value	$ 100,157,618	$ 126,251,858
Corporate Bonds Maturing 2020
Schedule Of Available For Sale Securities [Line Items]
Effective Maturity		2020
Amortized Cost		$ 145,359,876
Gross Unrealized Gains		49,722
Fair Value		$ 145,409,598

Marketable Securities - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Assets:
Fair value measurements of assets	$ 100,157,618	$ 271,661,456
Fair Value, Measurements, Recurring \| Corporate Bonds
Assets:
Fair value measurements of assets	100,157,618	271,661,456
Fair Value, Measurements, Recurring \| Level 2 \| Corporate Bonds
Assets:
Fair value measurements of assets	$ 100,157,618	$ 271,661,456

Property, Equipment and Leasehold Improvements - Schedule of Property, Equipment and Leasehold Improvements (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Property, equipment and leasehold improvements, gross	$ 18,392,339	$ 11,720,272
Less: accumulated depreciation	(6,132,824)	(3,264,861)
Property, equipment and leasehold improvements, net	12,259,515	8,455,411
Laboratory Equipment
Property Plant And Equipment [Line Items]
Property, equipment and leasehold improvements, gross	11,100,116	8,045,179
Office Equipment
Property Plant And Equipment [Line Items]
Property, equipment and leasehold improvements, gross	1,233,823	865,888
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property, equipment and leasehold improvements, gross	$ 6,058,400	$ 2,809,205

Property, Equipment and Leasehold Improvements - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Abstract]
Depreciation expense	$ 3,166,139	$ 1,561,557	$ 706,000

Right to Use Assets and Liabilities - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2018
Lessee Lease Description [Line Items]
Operating lease, existence of option to extend	true
Operating lease, existence of option to terminate	true
Operating lease, weighted average remaining lease term	1 year 10 months 24 days
Operating lease expiration month and year	2024-09
Total rent expense under operating leases		$ 606,538
Minimum
Lessee Lease Description [Line Items]
Percentage of incremental borrowing for lease Payments	3.20%
Maximum
Lessee Lease Description [Line Items]
Percentage of incremental borrowing for lease Payments	6.60%

Right to Use Assets and Liabilities - Components of Lease Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 995,228	$ 817,057

Right to Use Assets and Liabilities - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 920,158	$ 581,961
Supplemental non-cash information:
Right-of-use assets obtained in exchange for new lease obligations	$ 572,413	$ 571,886

Right to Use Assets and Liabilities - Schedule of Maturities of Lease Liabilities (Details)	Dec. 31, 2020 USD ($)
Leases [Abstract]
2021	$ 1,124,684
2022	1,108,065
Thereafter	12,041
Total lease payments	2,244,790
Less: imputed interest	(204,529)
Total	$ 2,040,261

Accrued Expenses - Components of Accrued Expenses (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Payables And Accruals [Abstract]
Employee expenses	$ 8,967,126	$ 5,810,723
Research and development expenses	8,113,043	1,186,935
Professional fees and other	1,779,671	605,246
Accrued expenses	$ 18,859,840	$ 7,602,904

Long-Term Debt - Additional Information (Details) - USD ($)	1 Months Ended			12 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Aug. 31, 2013	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2014
Debt Instrument [Line Items]
Debt instrument, outstanding amount				$ 2,000,000
Total unamortized debt discount on Loan						$ 7,210
Amortization of debt discount					$ 7,210	12,359
Interest expense, Debt				$ 65,000	$ 85,569	57,440
2014 Assistance Agreement \| State of Connecticut
Debt Instrument [Line Items]
Debt instrument maturity month and year							2024-01
Debt instrument face amount							$ 2,500,000
Percentage of liquidated damages							7.50%
2018 Assistance Agreement \| State of Connecticut
Debt Instrument [Line Items]
Debt instrument, interest rate per annum	3.25%
Debt instrument maturity month and year	2028-06
Debt instrument face amount	$ 2,000,000.0
Percentage of liquidated damages	7.50%
Percentage of maximum funding on total project costs		50.00%
Debt instrument interest payments term	60 months
Debt instrument amortization period after interest payments period	120 months
2018 Assistance Agreement \| State of Connecticut \| Maximum
Debt Instrument [Line Items]
Debt instrument face amount		$ 2,000,000.0
Forgiveness of funding on achieving certain employment conditions	$ 1,000,000.0
Loan Agreement \| Connecticut Innovations, Inc. \| Secured Debt
Debt Instrument [Line Items]
Debt instrument, maximum borrowing capacity			$ 750,000
Debt instrument, frequency of periodic payment				monthly
Debt instrument, interest rate per annum			7.50%
Debt instrument, interest only payment period upon first draw of funds			10 months
Debt instrument, date of first required payment			Jun. 01, 2015
Debt instrument, maturity date			Jul. 31, 2019
Debt instrument, outstanding amount						$ 169,610
Loan Agreement \| Connecticut Innovations, Inc. \| Secured Debt \| Leasehold Improvements
Debt Instrument [Line Items]
Debt instrument, maximum borrowing capacity			$ 100,000

Long-Term Debt - Schedule of Anticipated Future Minimum Payments on Long-Term Debt Excluding Discount on Debt (Details)	Dec. 31, 2020 USD ($)
Long Term Debt By Maturity [Abstract]
2023	$ 92,480
2024	377,516
2025	389,970
Beyond 5 years	1,140,034
Total	$ 2,000,000

Members' Equity - Additional Information (Details)	1 Months Ended		12 Months Ended				24 Months Ended
Members' Equity - Additional Information (Details)	Sep. 30, 2018	Mar. 31, 2018 USD ($) $ / shares shares	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2015 USD ($) $ / shares shares	Dec. 31, 2014 USD ($) $ / shares shares
Preferred stock issued, value			$ 431,899,963	$ 137,088,875	$ 111,159,583
Reverse stock split, conversion ratio	3.25
Series A Redeemable Convertible Preferred Stock
Preferred stock issued, shares \| shares							22,463,665
Preferred stock issued, value							$ 15,300,000
Stock issued, price per share/unit \| $ / shares							$ 0.6811
Series B Redeemable Convertible Preferred Units
Preferred stock issued, shares \| shares						24,977,489
Preferred stock issued, value						$ 41,600,000
Stock issued, price per share/unit \| $ / shares						$ 1.6659
Series C Redeemable Convertible Preferred Units
Preferred stock issued, shares \| shares		16,467,066
Preferred stock issued, value		$ 55,000,000.0
Stock issued, price per share/unit \| $ / shares		$ 3.34
Common Units
Common stock, voting rights			one

Equity - Additional Information (Details) - USD ($)				1 Months Ended					12 Months Ended
Equity - Additional Information (Details) - USD ($)	Jan. 01, 2020	Jan. 01, 2019	Oct. 01, 2018	Dec. 31, 2020	Nov. 30, 2019	Jul. 31, 2019	Sep. 30, 2018	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Oct. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fees and expenses			$ 12,000,000.0						$ 27,650,184	$ 597,131	$ 3,423,589
Share-based award, vesting period									4 years
Share-based award, stock options granted							1,995,660
Compensation expense, total									$ 30,230,858	$ 20,072,710	$ 11,630,300
Compensation expense not yet recognized				$ 22,647,241					$ 22,647,241
Compensation expense not yet recognized, period of recognition									2 years
Stock options vested							357,658
Weighted-average grant date fair value of options granted									$ 27.45	$ 13.28	$ 9.88
Total intrinsic value of options exercised									$ 19,400,000	$ 1,900,000	$ 0
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense, total							$ 3,627,507
Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Incentive units authorized for issuance								6,199,477
Share-based award, expiration date								Sep. 30, 2018
Incentive units authorized for issuance									1,561,485	1,293,510
Share-based award, non-option equity instruments granted											1,715,368
Share-based award, stock options granted							1,744,650
Incentive Plan \| Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based award, non-option equity instruments granted							1,253,263
Restricted shares vested and expected to vest				217,232					217,232
Incentive Plan \| Consultants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based award, stock options granted							251,010
Incentive Plan \| Consultants \| Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based award, non-option equity instruments granted							11,097
2018 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance							4,067,007
Annual increase in reserved shares as percentage of outstanding common stock										4.00%
Share-based award, stock options granted									1,424,402
Compensation expense not yet recognized				$ 21,500,000					$ 21,500,000
Compensation expense not yet recognized, period of recognition									2 years
Stock options vested				1,665,452					1,665,452
Stock options vested and expected to vest				4,053,998					4,053,998
Restricted stock units vested and expected to vest				114,243					114,243
Minimum \| Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based award, vesting period								1 year
Minimum \| 2018 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Annual increase in reserved shares of common stock										4,989,593
Maximum \| Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance							1,277,181
Share-based award, vesting period								4 years
Bayer A G
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued and sold						1,346,313
Common stock issued in period						$ 32,500,000
Average common stock preceding days						60 days
Prior to stock purchase agreement premium						15.00%
At-the-Market Offering
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fees and expenses									$ 1,584,647	$ 0	$ 0
At-the-Market Offering \| Piper Sandler
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued and sold									2,593,637
Common stock aggregate offering price												$ 100,000,000.0
Proceeds from sale of common stock									$ 64,100,000
Fees and expenses									$ 1,600,000
2018 ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance	390,371	323,377					311,850
Common stock reserved for issuance represented as percentage on outstanding common stock	1.00%	1.00%
Common stock, shares issued									11,046
Common stock, shares remained available for purchase				1,014,552					1,014,552
Amount used as multiplying factor to grant common stock				$ 2,083					$ 2,083
Maximum percentage of compensation receivable by employee									15.00%
2018 ESPP \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Purchase price under ESPP as percentage of closing price of common stock									85.00%
Common Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Gross proceeds from sale of shares in Initial public offering before fees and expenses			$ 123,200,000	431,900,000	$ 115,000,000.0
Fees and expenses				$ 28,100,000	$ 7,400,000
Common Shares \| Initial Public Offering
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued and sold			7,500,000	6,571,428	5,227,273
Share price, issued and sold			$ 16.00	$ 70.00	$ 22.00				$ 70.00

Equity - Schedule of Assumptions Used to Determine Fair Value of and Stock Options Granted (Details) - Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	70.00%	69.00%	68.00%
Expected volatility	75.00%	71.00%	70.00%
Risk free interest rate	0.30%	1.40%	2.60%
Risk free interest rate	1.60%	2.70%	3.10%
Expected dividend yield	0.00%	0.00%	0.00%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	5 years 3 months 18 days	5 years 6 months	5 years
Exercise price	$ 22.70	$ 17.29	$ 14.44
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	7 years	7 years	10 years
Exercise price	$ 50.00	$ 37.66	$ 16.24

Equity - Summary of Stock Option Activity (Details) - USD ($)	1 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options, Granted	1,995,660
Options, Exercisable, Ending Balance	357,658
2018 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options, Outstanding, Beginning Balance		3,432,198
Options, Granted		1,424,402
Options, Exercised		(447,113)
Options, Forfeited		(87,605)
Options, Outstanding, Ending Balance		4,321,882
Options, Exercisable, Ending Balance		1,665,452
Weighted Average Exercise Price, Outstanding, Beginning Balance		$ 18.05
Weighted Average Exercise Price, Granted		43.67
Weighted Average Exercise Price, Exercised		17.76
Weighted Average Exercise Price, Forfeited		26.94
Weighted Average Exercise Price, Outstanding, Ending Balance		26.35
Weighted Average Exercise Price, Exercisable		$ 17.50
Weighted Average Remaining Contractual Term (Years), Outstanding		8 years 4 months 24 days
Weighted Average Remaining Contractual Term (Years), Exercisable		7 years 10 months 24 days
Aggregate Intrinsic Value, Outstanding		$ 253,193,160
Aggregate Intrinsic Value, Exercisable		$ 112,307,482

Equity - Summary of Restricted Stock Grant Activity (Details) - $ / shares	1 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2020	Dec. 31, 2018
Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted Shares, Granted			1,715,368
Incentive Plan \| Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted Shares, Granted	1,253,263
Incentive Plan \| Restricted Stock \| Employees, Directors and Consultants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested Restricted Stock, Shares, Beginning Balance		576,074
Restricted Shares, Vested		(325,818)
Restricted Shares, Forfeited		(11,544)
Unvested Restricted Stock, Shares, Ending Balance		238,712
Weighted Average Grant Date Fair Value Per Share, Beginning Balance		$ 16.00
Weighted Average Grant Date Fair Value Per Share, Vested		16.00
Weighted Average Grant Date Fair Value Per Share, Forfeited		16.00
Weighted Average Grant Date Fair Value Per Share, Ending Balance		$ 16.00
2018 Plan \| Restricted Stock Units \| Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested Restricted Stock, Shares, Beginning Balance		181,372
Restricted Shares, Forfeited		(2,977)
Unvested Restricted Stock, Shares, Ending Balance		133,049
Weighted Average Grant Date Fair Value Per Share, Beginning Balance		$ 20.00
Weighted Average Grant Date Fair Value Per Share, Forfeited		19.36
Weighted Average Grant Date Fair Value Per Share, Ending Balance		$ 20.01
Restricted Shares, Exercised		(45,346)
Weighted Average Grant Date Fair Value Per Share, Exercised		$ 20.00

Investment in Equity Method Investee - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Equity Method Investments [Line Items]
Revenue recognized	$ 18,651,649	$ 14,335,188
Deferred revenue	45,089,094	58,407,407
Net loss	(119,332,064)	(70,292,227)	$ (41,480,466)
Loss from equity method investment	0	$ (24,675,000)	$ 0
Equity method investments	0
Oerth
Schedule Of Equity Method Investments [Line Items]
Cash commitment	$ 49,400,000
Ownership interest in joint venture	50.00%	50.00%
Future grant of incentive units to service providers, percentage	15.00%
Revenue recognized	$ 24,700,000
Deferred revenue	24,700,000
Research and development expenses	49,400,000
Loss from equity method investment	0	$ 24,700,000
Equity method investments		0
Oerth \| Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule Of Equity Method Investments [Line Items]
Operating expenses	8,300,000	49,800,000
Net loss	8,300,000	$ 49,800,000
Bayer LP \| Oerth
Schedule Of Equity Method Investments [Line Items]
Cash commitment	56,000,000.0
Contributed to joint venture entity	$ 16,000,000.0
Ownership interest in joint venture	50.00%

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Line Items]
Income tax expense (benefit)	$ 0	$ 0
Unrecognized tax benefits, income tax penalties and interest accrued	$ 0	$ 0
Effective income tax rate reconciliation, tax credit, research and development, percent	4.10%	3.50%	2.50%
Effective income tax rate reconciliation, tax credit, research and development, amount	$ 1,400,000	$ 100,000	$ 1,800,000
Federal
Income Tax Disclosure [Line Items]
Net operating loss carryforwards	$ 205,100,000	$ 103,500,000
Net operating loss carryforwards, expiration year	2037	2037
Operating losses carry forward, maximum deductibility percentage	80.00%
Net operating loss carryforwards, limitations on use	The Company believes the federal net operating losses are subject to an annual limitation as a result of changes in the Company’s ownership, as defined by Federal Internal Revenue Code Section 382, in November 2019. Notwithstanding the limitations, the Company expects the federal net operating losses to be fully available under Section 382 within the next two years.
Tax credit carryforwards	$ 10,100,000	$ 5,100,000
Tax credit carryforwards, expiration year	2040	2040
Income tax examination year	2016
State
Income Tax Disclosure [Line Items]
Income tax expense (benefit)	$ 0
Research and Development Tax Credits
Income Tax Disclosure [Line Items]
Increase in valuation allowance	$ 27,800,000	$ 15,400,000
Effective income tax rate reconciliation, tax credit, research and development, percent	65.00%	65.00%	65.00%
Income taxes receivable	$ 3,200,000	$ 1,400,000

Income Taxes - Reconciliation of the U.S. Federal Statutory Income Tax Rate to Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%	21.00%
Federal research tax credit	4.10%	3.50%	2.50%
Stock compensation	(1.70%)	(2.20%)	(3.30%)
Change in valuation allowance	(23.30%)	(22.00%)	(20.30%)
Other	(0.10%)	(0.30%)	0.10%
Reconciliation of effective income tax rate	0.00%	0.00%	0.00%

Income Taxes - Summary of Deferred Income Taxes (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Deferred income tax assets:
Loss carryforwards	$ 43,074,539	$ 21,733,983
Deferred revenue	8,978,710	7,871,790
Tax credits	10,070,208	5,121,644
Stock compensation	5,038,675	3,580,768
Other	172,170	183,118
Total deferred income tax assets	67,334,302	38,491,303
Deferred income tax liabilities
Other	(43,103)	(35,011)
Property, equipment and leasehold improvements	(2,377,997)	(1,293,932)
Total deferred income tax liabilities	(2,421,100)	(1,328,943)
Less valuation allowance	$ (64,913,202)	$ (37,162,360)

Commitments and Contingencies - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Consulting Agreement
Commitments And Contingencies [Line Items]
Payment for consulting service	$ 250,000	$ 250,000	$ 176,110
Monthly research payments	20,833
Yale University \| Amended Corporate Sponsored Research Agreement
Commitments And Contingencies [Line Items]
Quarterly research payments	250,000
Yale University \| Corporate Sponsored Research Agreement (SRA)
Commitments And Contingencies [Line Items]
Total research payments	$ 1,000,000	$ 1,000,000	$ 851,161
Related party agreement, description	In July 2016, the Company entered into a Corporate Sponsored Research Agreement (SRA) with Yale University, which was amended in April 2018. The amended SRA extended the agreement until April 2021 and amended the scope of work. The amended SRA requires quarterly payments of $250,000 through the end of the agreement. The total payments made under the SRA for 2020, 2019 and 2018 were $1,000,000, $1,000,000 and $851,161, respectively.

Net Loss Per Common Share - Basic and Diluted Loss per Common Share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Net loss	$ (119,332,064)	$ (70,292,227)	$ (41,480,466)
Change in redemption value of preferred units	0	0	(198,366,756)
Net loss attributable to common shares – basic and diluted	$ (119,332,064)	$ (70,292,227)	$ (239,847,222)
Weighted average number of common shares outstanding, basic and diluted	39,534,497	32,927,697	9,422,799
Net loss per common share	$ (3.02)	$ (2.13)	$ (25.45)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Net Loss Per Common Share - Common Share Equivalents Excluded from the Calculations of Diluted Loss Per Common Share (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common share/unit equivalents excluded from the calculations of diluted loss per common share	4,693,643	4,189,644	3,375,313
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common share/unit equivalents excluded from the calculations of diluted loss per common share	4,321,882	3,432,198	2,273,024
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common share/unit equivalents excluded from the calculations of diluted loss per common share	238,712	576,074	1,102,289
Restricted Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common share/unit equivalents excluded from the calculations of diluted loss per common share	133,049	181,372