Arrowhead Pharmaceuticals
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Arrowhead Pharmaceuticals (ARWR) investor relations material

Arrowhead Pharmaceuticals Q1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 2026 earnings summary5 Feb, 2026

Executive summary

  • Achieved first regulatory approvals for REDEMPLO in the U.S., Canada, and China for FCS, marking transition to a commercial-stage company and the first FDA-approved product.

  • Launched REDEMPLO in the U.S. with encouraging early prescription trends, positive payer feedback, and over 100 prescriptions received.

  • Advanced cardiometabolic and CNS pipelines, including new clinical programs, proprietary delivery platforms, and promising early obesity program results.

  • Strengthened financial position with $1.33 billion in gross proceeds from licensing, milestones, and financings, including major public offerings.

  • Closed major licensing deals with Sarepta and Novartis, each providing substantial upfront and milestone payments.

Financial highlights

  • Revenue for the quarter was $264.0 million, up from $2.5 million in the same quarter last year, primarily from licensing collaborations with Sarepta ($229.5M) and Novartis ($34.2M).

  • Net income attributable to shareholders was $30.8 million, or $0.22 per share, reversing a net loss of $173.1 million, or $1.39 per share, in the prior year.

  • Operating income was $40.8 million, compared to a loss of $161.4 million in the prior year.

  • Operating expenses increased to $223 million, up $59 million year-over-year, driven by higher R&D and SG&A costs.

  • Cash and investments totaled $917 million at quarter end, excluding additional milestone and financing proceeds received post-quarter.

Outlook and guidance

  • Anticipates commercial sales growth for REDEMPLO and potential launches in Canada, EU, and the U.K. in 2026.

  • Expects Q3 2026 readout of phase III SHASTA-3 and SHASTA-4 studies for plozasiran in SHTG, targeting a $3–4 billion opportunity.

  • Interim data for ARO-DimerPA and additional obesity and CNS program data expected in the second half of 2026.

  • Sufficient liquidity to fund operations for at least the next twelve months, supported by recent equity and convertible note offerings totaling $930 million in gross proceeds.

  • Eligible to receive up to $15.3 billion in additional milestone payments from partnered programs.

What drives REDEMPLO's early prescription trends?
How does new CNS delivery system differentiate ARO-MAPT?
How will new capital be deployed for pipeline?
ARO-DIMER-PA TPP for MACE benefit?
SHTG payer strategy for high-risk patients
CNS platform next steps beyond MAPT/SRP-1005?
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Frequently asked questions

Arrowhead Pharmaceuticals Inc develops therapies that leverage RNA interference (RNAi) to treat genetic diseases. Its pipeline targets conditions in areas such as liver disease, cardiovascular disease, and oncology. The company is headquartered in Pasadena, California, and its shares are listed on the NASDAQ.

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