Arrowhead Pharmaceuticals Reports Fiscal 2017 Year End Results

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Arrowhead Pharmaceuticals Reports...

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

PASADENA, Calif.–(BUSINESS WIRE)–

Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) today announced financial

results for its fiscal 2017 fourth quarter and year ended September 30,

2017. 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 6977547.

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 6977547.

Selected Fiscal 2017 and Recent Events

  • Hosted an Analyst R&D Day in September 2017 to highlight the following:

    • The Targeted RNAi Molecule platform, or TRiM™, which utilizes

      ligand-mediated delivery and is designed to enable tissue-specific

      targeting, while being structurally simple

    • The TRiM™ platform offers several potential competitive advantages

      including:

      • Simplified manufacturing at reduced cost

      • Multiple routes of administration (subcutaneous, intravenous,

        and inhaled)

      • Faster time to clinical candidates

      • Wide safety margins

      • Promise of taking RNAi to tissues beyond the liver

    • ARO-AAT, Arrowhead’s second generation subcutaneously administered

      clinical candidate for the treatment of alpha-1 antitrypsin

      deficiency liver disease with a planned Clinical Trial Application

      (CTA) filing in Q1 2018

    • ARO-HBV, Arrowhead’s third generation subcutaneously administered

      clinical candidate for the treatment of chronic hepatitis B virus

      infection with a planned CTA filing in Q2 2018

    • Arrowhead’s expanded cardiometabolic pipeline, which now includes

      ARO-APOC3, targeting apolipoprotein C-III, and ARO-ANG3, targeting

      angiopoietin-like protein 3 (ANGPTL3) with CTA filings planned

      around the end of 2018

    • The TRiM™ platform’s ability to target extra-hepatic tissues,

      including the lung and tumors, represented by the following

      programs:

      • ARO-Lung1, the first candidate against an undisclosed gene

        target in the lung, which achieved almost 90% target knockdown

        following inhaled administration in rodents

      • ARO-HIF2, Arrowhead’s candidate targeting renal cell

        carcinoma, which achieved 85% target gene knockdown in a

        rodent tumor model

      • CTA filings are planned in Q4 2018 and in 2019 for ARO-Lung1

        and ARO-HIF2, respectively

  • Presented new clinical data at HEP DART 2017 demonstrating up to 5.0

    log10 reduction in HBV s-antigen and a Sustained Host Response in 50%

    of hepatitis B patients following RNAi therapy, ARC-520, in the 2001

    open label extension study

  • Made continued progress on our two-product cardiovascular

    collaboration with Amgen, in which one that was previously called

    ARO-LPA against the target lipoprotein(a) has been formally nominated

    as a clinical candidate and which is now referred to as AMG-890 by

    Amgen

Selected Fiscal 2017 Year End Financial Results

 

ARROWHEAD PHARMACEUTICALS, INC.

CONSOLIDATED FINANCIAL INFORMATION

 

 

Year Ended September 30,

OPERATING SUMMARY

 

2017

 

 

2016

 

 

REVENUE

$

31,407,709

$

158,333

OPERATING EXPENSES

Research and development

31,690,298

41,454,452

Salaries and payroll-related costs

17,292,883

19,461,656

General and administrative expenses

6,838,402

9,940,737

Stock-based compensation

7,891,595

11,595,816

Depreciation and amortization

4,690,440

3,260,045

Impairment expense

–

2,050,817

Contingent consideration – fair value adjustments

 

–

 

 

(5,862,464

)

TOTAL OPERATING EXPENSES

 

68,403,618

 

 

81,901,059

 

OPERATING LOSS

(36,995,909

)

(81,742,726

)

OTHER INCOME/(EXPENSE), PROVISION FOR INCOME TAXES

 

2,615,614

 

 

19,724

 

NET LOSS

$

(34,380,295

)

$

(81,723,002

)

 

NET LOSS PER SHARE (BASIC AND DILUTED):

$

(0.47

)

$

(1.34

)

WEIGHTED AVERAGE SHARES OUTSTANDING

 

73,898,598

 

 

61,050,880

 

 

FINANCIAL POSITION SUMMARY

September 30,

September 30,

 

2017

 

 

2016

 

CASH AND CASH EQUIVALENTS

$

24,838,567

$

85,366,448

SHORT-TERM INVESTMENTS

 

40,769,539

 

 

–

 

TOTAL CASH RESOURCES (CASH AND INVESTMENTS)

 

65,608,106

 

 

85,366,448

 

OTHER ASSETS

 

38,414,174

 

 

42,810,057

 

TOTAL ASSETS

 

104,022,280

 

 

128,176,505

 

TOTAL LIABILITIES

23,155,118

33,152,246

TOTAL STOCKHOLDERS’ EQUITY

 

80,867,162

 

 

95,024,259

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$

104,022,280

 

$

128,176,505

 

 

SHARES OUTSTANDING

74,785,426

69,746,685

 

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals develops medicines that treat intractable

diseases by silencing the genes that cause them. Using a broad portfolio

of RNA chemistries and efficient modes of delivery, Arrowhead therapies

trigger the RNA interference mechanism to induce rapid, deep, and

durable knockdown of target genes. RNA interference, or RNAi, is a

mechanism present in living cells that inhibits the expression of a

specific gene, thereby affecting the production of a specific protein.

Arrowhead’s RNAi-based therapeutics leverage this natural pathway of

gene silencing.

For more information, please visit www.arrowheadpharma.com,

or follow us on Twitter @ArrowheadPharma.

To be added to the Company’s email list and receive news directly,

please visit http://ir.arrowheadpharma.com/alerts.cfm.

Safe Harbor Statement under the Private Securities Litigation Reform

Act:

This news release contains forward-looking statements within the

meaning of the “safe harbor” provisions of the Private Securities

Litigation Reform Act of 1995. These statements are based upon our

current expectations and speak only as of the date hereof. Our actual

results may differ materially and adversely from those expressed in any

forward-looking statements as a result of various factors and

uncertainties, including the safety and efficacy of our product

candidates, the duration and impact of regulatory delays in our clinical

programs, our ability to finance our operations, the future success of

our scientific studies, our ability to successfully develop drug

candidates, the timing for starting and completing clinical trials,

rapid technological change in our markets, and the enforcement of our

intellectual property rights. Our most recent Annual Report on Form 10-K

and subsequent Quarterly Reports on Form 10-Q discuss some of the

important risk factors that may affect our business, results of

operations and financial condition. We assume no obligation to update or

revise forward-looking statements to reflect new events or circumstances.

Source: Arrowhead Pharmaceuticals, Inc.

Arrowhead Pharmaceuticals, Inc.
Vince Anzalone, CFA
626-304-3400
ir@arrowheadpharma.com
or
Investors

and Media:
LifeSci Advisors, LLC
Brian Ritchie
212-915-2578
britchie@lifesciadvisors.com
www.lifesciadvisors.com

Source: Arrowhead Pharmaceuticals, Inc.

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