Arrowhead Pharmaceuticals Reports Fiscal 2018 Third Quarter Results

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Arrowhead Pharmaceuticals Reports...

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

PASADENA, Calif.–(BUSINESS WIRE)–Aug. 7, 2018–
Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR) today announced financial
results for its fiscal 2018 third quarter ended June 30, 2018. 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 8452059.

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 8452059.

Selected Fiscal 2018 Third Quarter and Recent Events

  • Made presentations at the EASL International Liver Congress, including:

    • Preclinical data on ARO-AAT, the second generation candidate for
      the treatment of alpha-1 antitrypsin deficiency liver disease
    • Preclinical data on ARO-HBV, the third generation clinical
      candidate for the treatment of chronic hepatitis B virus infection
    • Clinical data on ARC-520, a prior generation compound for HBV
  • Presented preclinical data at various medical meetings on the growing
    pipeline, including data on two cardiometabolic candidates ARO-APOC3
    and ARO-ANG3 and the first candidate targeting the lung, ARO-ENaC
  • Completed enrollment and dosing of the single ascending dose portion
    of the ongoing Phase 1/2 study of ARO-HBV and began dosing HBV
    patients in the multiple ascending dose portion of the study
  • Completed enrollment of the Phase 1 study of ARO-AAT
  • Received a positive EMA opinion on orphan designation for ARO-AAT,
    this follows orphan drug designation that was previously granted by
    the US FDA
  • Presented initial clinical data on ARO-AAT at the Alpha-1 National
    Education Conference, representing this was the first clinical data
    presented on the proprietary Targeted RNAi Molecule (TRiMTM)
    platform
  • Announced that Amgen had administered the first dose of AMG 890,
    formerly ARO-LPA, in a Phase 1 clinical study, which earned Arrowhead
    a $10 million milestone payment
 

Selected Fiscal 2018 Third Quarter Financial Results
 
ARROWHEAD PHARMACEUTICALS, INC.
CONSOLIDATED CONDENSED FINANCIAL INFORMATION (unaudited)
       
Three Months Ended June 30, Nine Months Ended June 30,

OPERATING SUMMARY

 2018 2017 2018 2017
 
REVENUE $ 727,375 $ 9,342,498 $ 4,887,321 $ 22,693,923
OPERATING EXPENSES
Research and development 12,052,653 11,136,741 36,974,625 37,363,207
General and administrative expenses   4,594,441   3,919,921   12,679,822   12,076,412
TOTAL OPERATING EXPENSES   16,647,094   15,056,662   49,654,447   49,439,619
OPERATING LOSS (15,919,719 ) (5,714,164 ) (44,767,126 ) (26,745,696 )
OTHER INCOME/(EXPENSE), PROVISION FOR INCOME TAXES   313,702   194,423   1,077,919   3,097,287
NET LOSS $ (15,606,017 ) $ (5,519,741 ) $ (43,689,207 ) $ (23,648,409 )
 
NET LOSS PER SHARE (BASIC AND DILUTED): $ (0.18 ) $ (0.07 ) $ (0.53 ) $ (0.32 )
WEIGHTED AVERAGE SHARES OUTSTANDING   87,634,435   74,772,103   82,149,381   73,603,852
 

FINANCIAL POSITION SUMMARY

 June 30, September 30,
2018 2017
CASH AND CASH EQUIVALENTS $ 27,995,386 $ 24,838,567
SHORT-TERM INVESTMENTS 32,484,708 40,769,539
LONG-TERM INVESTMENTS   17,672,658   –
TOTAL CASH RESOURCES (CASH AND INVESTMENTS)   78,152,752   65,608,106
OTHER ASSETS   34,750,275   38,414,174
TOTAL ASSETS   112,903,027   104,022,280
TOTAL LIABILITIES 11,143,668 23,155,118
TOTAL STOCKHOLDERS’ EQUITY   101,759,359   80,867,162
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 112,903,027 $ 104,022,280
 
SHARES OUTSTANDING 87,854,651 74,785,426
 

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/email-alerts.

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.

Source: Arrowhead Pharmaceuticals

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