International Circuit
Arrowhead pharmaceuticals reports fiscal 2020 third quarter results
Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR) today announced financial results for its fiscal third quarter ended June 30, 2020. The company is hosting a conference call at 4:30 p.m. EDT 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 6856804.
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 6856804.
Selected Recent Events
- Earned a $20 million milestone payment from Amgen following the administration of the first dose of AMG 890, formerly referred to as ARO-LPA, in a Phase 2 clinical study
- Hosted a key opinion leader webinar on ARO-ENaC, the company’s investigational RNAi therapeutic being developed as a treatment for patients with cystic fibrosis
- Completed dosing in healthy volunteer cohorts in AROHSD1001, a Phase 1/2 clinical study of ARO-HSD, the company’s investigational RNAi therapeutic being developed as a treatment for patients with alcohol related and nonalcohol related liver diseases, such as nonalcoholic steatohepatitis
- Completed dosing of the first sequential cohort and collected the first 6-month repeat biopsy in the AROAAT2002 study, a pilot open-label, multi-dose, Phase 2 study to assess changes in a novel histological activity scale in response to ARO-AAT over time in patients with alpha-1 antitrypsin deficiency associated liver disease
- Completed planned enrollment and dosing of 93 subjects in AROANG1001, a Phase 1/2 clinical study of ARO-ANG3, the company’s investigational RNAi therapeutic being developed for the treatment of mixed dyslipidemia
- Completed planned enrollment and dosing of 80 subjects in AROAPOC31001, a Phase 1/2 clinical study of ARO-APOC3, the company’s investigational RNAi therapeutic being developed for the treatment of hypertriglyceridemia, and expanded the study to include up to 112 subjects
Selected Fiscal 2020 Third Quarter Financial Results
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ARROWHEAD PHARMACEUTICALS, INC. |
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CONSOLIDATED CONDENSED FINANCIAL INFORMATION (unaudited) |
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Three Months Ended June 30, |
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Nine Months Ended June 30, |
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OPERATING SUMMARY |
2020 |
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2019 |
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2020 |
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2019 |
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REVENUE |
$ |
27,375,778 |
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$ |
42,696,636 |
$ |
80,359,211 |
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$ |
125,502,807 |
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OPERATING EXPENSES |
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Research and development |
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32,573,134 |
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19,291,710 |
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85,390,086 |
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57,662,381 |
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General and administrative expenses |
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10,748,506 |
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4,809,177 |
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38,008,836 |
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16,287,841 |
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TOTAL OPERATING EXPENSES |
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43,321,640 |
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24,100,887 |
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123,398,922 |
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73,950,222 |
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OPERATING INCOME (LOSS) |
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(15,945,862 |
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18,595,749 |
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(43,039,711 |
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51,552,585 |
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OTHER INCOME/(EXPENSE), PROVISION FOR INCOME TAXES |
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2,334,649 |
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1,739,959 |
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6,919,200 |
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4,717,359 |
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NET INCOME (LOSS) |
$ |
(13,611,213 |
) |
$ |
20,335,708 |
$ |
(36,120,511 |
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$ |
56,269,944 |
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NET INCOME (LOSS) PER SHARE (DILUTED) |
$ |
(0.13 |
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$ |
0.21 |
$ |
(0.36 |
) |
$ |
0.58 |
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WEIGHTED AVERAGE SHARES OUTSTANDING (DILUTED) |
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101,843,436 |
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98,884,744 |
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100,184,216 |
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97,814,019 |
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FINANCIAL POSITION SUMMARY |
June 30, |
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September 30, |
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2020 |
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2019 |
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CASH AND CASH EQUIVALENTS |
$ |
219,322,617 |
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$ |
221,804,128 |
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SHORT-TERM INVESTMENTS |
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67,709,263 |
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36,899,894 |
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LONG-TERM INVESTMENTS |
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177,529,881 |
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44,175,993 |
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TOTAL CASH RESOURCES (CASH AND INVESTMENTS) |
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464,561,761 |
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302,880,015 |
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OTHER ASSETS |
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91,166,311 |
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46,965,422 |
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TOTAL ASSETS |
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555,728,072 |
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349,845,437 |
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TOTAL CURRENT DEFERRED REVENUE |
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26,274,362 |
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77,769,629 |
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TOTAL LONG TERM DEFERRED REVENUE |
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– |
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5,035,142 |
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OTHER LIABILITIES |
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36,868,505 |
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23,004,414 |
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TOTAL LIABILITIES |
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63,142,867 |
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105,809,185 |
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TOTAL STOCKHOLDERS’ EQUITY |
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492,585,205 |
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244,036,252 |
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TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |
$ |
555,728,072 |
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$ |
349,845,437 |
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SHARES OUTSTANDING |
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102,250,872 |
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95,506,271 |
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–Businesswire
