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Press Release: Arrowhead Pharmaceuticals Reports Fiscal 2021 First Quarter Results

· 02/04/2021 16:00
CONTACT: Arrowhead Pharmaceuticals, Inc.ARROWHEAD PHARMACEUTICALS, INC. CONSOLIDATED CONDENSED FINANCIAL INFORMATION (unaudited) (in thousands, except per share amounts) Three months ended December 31, OPERATING SUMMARY 2020 2019 ---------------------------------------- ------------ --------------- REVENUE $ 21,303 $ 29,455 OPERATING EXPENSES Research and development 36,555 23,374 General and administrative expenses 8,802 10,934 ----------- ------------ TOTAL OPERATING EXPENSES 45,357 34,308 ----------- ------------ OPERATING INCOME (LOSS) (24,054) (4,853) OTHER INCOME/(EXPENSE) 3,322 2,180 ----------- ------------ NET INCOME (LOSS) $ (20,732) $ (2,673) =========== ============ NET INCOME (LOSS) PER SHARE (DILUTED) $ (0.20) $ (0.03) =========== ============ WEIGHTED AVERAGE SHARES OUTSTANDING (DILUTED) 102,757 97,090 =========== ============ FINANCIAL POSITION SUMMARY December 31, September 30, ---------------------------------------- 2020 2020 ------------ --------------- CASH AND CASH EQUIVALENTS $ 139,921 $ 143,583 SHORT-TERM INVESTMENTS AND MARKETABLE SECURITIES 165,406 171,910 LONG-TERM INVESTMENTS 110,855 137,487 ----------- ------------ TOTAL CASH RESOURCES (CASH AND INVESTMENTS) 416,182 452,980 ----------- ------------ OTHER ASSETS 83,069 69,524 ----------- ------------ TOTAL ASSETS 499,251 522,504 =========== ============ TOTAL CURRENT DEFERRED REVENUE 6,744 19,291 OTHER LIABILITIES 38,035 41,434 ----------- ------------ TOTAL LIABILITIES 44,779 60,725 ----------- ------------ TOTAL STOCKHOLDERS' EQUITY 454,472 461,779 ----------- ------------ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 499,251 $ 522,504 =========== ============ SHARES OUTSTANDING 103,194 102,376-- Submitted an Investigational New Drug Application (IND) to the U.S. Food and Drug Administration for a Phase 2b dose-finding clinical study of ARO-ANG3, the company's investigational RNAi therapeutic being developed as a treatment for patients with mixed dyslipidemia -- Presented new clinical data from Phase 1/2 studies of both wholly owned cardiometabolic candidates, ARO-APOC3 and ARO-ANG3, at the American Heart Association meetings and subsequently hosted key opinion leader webinars to discuss the data and plans for future development of the product candidates -- Closed an agreement with Takeda to co-develop and co-commercialize ARO-AAT, which includes $300 million upfront, $740 million in potential milestone payments, a 50/50 profit sharing agreement in the U.S., and 20-25% royalty on net sales outside the U.S. -- Presented new clinical data at The Liver Meeting Digital Experience, the Annual Meeting of the American Association for the Study of Liver Disease (AASLD) on ARO-AAT, Arrowhead's candidate against liver disease associated with alpha-1 antitrypsin deficiency, showing that ARO-AAT strongly reduced the production of mutant Z-AAT protein and led to improvements in multiple biomarkers of alpha-1 liver diseasePASADENA, Calif.--(BUSINESS WIRE)--February 04, 2021--

Arrowhead Pharmaceuticals Reports Fiscal 2021 First Quarter Results

Conference Call and Webcast Today, February 4 at 4:30 p.m. EST

Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) today announced financial results for its fiscal first quarter ended December 31, 2020. The company is hosting a conference call at 4:30 p.m. EST to discuss results.

Conference Call and Webcast Details

Investors may access a live audio webcast on the Company's website at http://ir.arrowheadpharma.com/events.cfm. For analysts that wish to participate in the conference call, please dial 855-215-6159 or 315-625-6887 and provide Conference ID 1307499.

A replay of the webcast will be available on the company's website approximately two hours after the conclusion of the call and will remain available for 90 days. An audio replay will also be available approximately two hours after the conclusion of the call and will be available for 3 days. To access the audio replay, dial 855-859-2056 or 404-537-3406 and provide Conference ID 1307499.

Selected Recent Events

Selected Fiscal 2021 First Quarter Financial Results

Source: Arrowhead Pharmaceuticals, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210204005951/en/

Vince Anzalone, CFA

626-304-3400

ir@arrowheadpharma.com

Investors:

LifeSci Advisors, LLC

Brian Ritchie

212-915-2578

britchie@lifesciadvisors.com

www.lifesciadvisors.com

Media:

LifeSci Communications, LLC

Josephine Belluardo, Ph.D.

646-751-4361

jo@lifescicomms.com

www.lifescicommunications.com

(END) Dow Jones Newswires

February 04, 2021 16:00 ET (21:00 GMT)