ARROWHEAD PHARMACEUTICALS, INC. ARWR
The Company develops medicines that treat intractable diseases by silencing the genes that cause them. Using a broad portfolio of RNA chemistries and modes of delivery, the Company's therapies trigger the RNA interference mechanism to induce rapid, deep and durable knockdown of target genes.
There are currently 18 Arrowhead discovered drug candidates in clinical trials ranging from early stage (Phase 1) to late stage (Phase 3). In addition, the company has a robust discovery stage pipeline which is capable of generating multiple new clinical candidates each year.
The Company recently achieved a transformational milestone with its first commercial launch in 2025, when the U.S. Food and Drug Administration ("FDA") approved REDEMPLO® (plozasiran) as an adjunct to diet to reduce triglycerides in adults with Familial Chylomicronemia Syndrome ("FCS"). Additionally, phase 3 studies (SHASTA-3, SHASTA-4 and SHASTA-5) for severe hypertriglyceridemia ("sHTG") have been fully enrolled and the Company plans to file a supplemental NDA for this indication in 2026, pending successful completion of Phase 3 clinical studies. The Company has built a commercial organization to support marketing in FCS, a rare disease, and plans to progressively build its commercial capabilities to also support marketing in sHTG, a higher prevalence disease which will require a larger commercial footprint.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $829.4M | $3.6M | $240.7M | $243.2M | $138.3M | $88.0M | $168.8M | $16.1M | $31.4M | $158.3K |
| R&D | $607.2M | $505.9M | $353.2M | — | — | — | — | — | — | — |
| SG&A | $123.9M | $98.8M | $92.5M | $124.4M | $81.0M | $52.3M | $26.6M | $19.1M | $17.5M | $23.6M |
| Total operating expenses | $731.1M | $604.6M | $445.7M | $421.7M | $287.3M | $181.2M | $107.6M | $72.1M | $68.4M | $81.9M |
| Operating income | $98.3M | -$601.1M | -$205.0M | -$178.5M | -$149.0M | -$93.2M | $61.2M | -$55.9M | -$37.0M | -$81.7M |
| Interest expense | $89.4M | $32.4M | $18.3M | $0 | $0 | — | — | — | — | — |
| Pre-tax income | $51.5M | -$612.5M | -$206.5M | -$172.7M | -$140.8M | -$84.6M | $68.1M | -$54.4M | -$34.4M | -$81.7M |
| Income tax | $21.4M | $2.8M | $2.8M | $3.8M | $2.0K | $2.0K | $174.0K | $2.4K | $2.4K | $2.4K |
| Net income | -$1.6M | -$599.5M | -$205.3M | -$176.1M | -$140.8M | -$84.6M | $68.0M | -$54.5M | -$34.4M | -$81.7M |
| EPS, basic | -0.01 | -5.00 | -1.92 | -1.67 | -1.36 | -0.84 | 0.72 | -0.65 | -0.47 | — |
| EPS, diluted | -0.01 | -5.00 | -1.92 | -1.67 | -1.36 | -0.84 | 0.69 | -0.65 | -0.47 | -1.34 |
| Shares, diluted (wtd. avg.) | 133.8M | 119.8M | 106.8M | 105.4M | 103.7M | 100.7M | 98.6M | 83.6M | 73.9M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $226.5M | $102.7M | $110.9M | $108.0M | $184.4M | $143.6M | $221.8M | $30.1M | $24.8M | $85.4M |
| Short-term investments | $692.8M | $578.3M | $292.7M | $0 | $126.7M | $85.0M | — | — | — | — |
| Receivables | $6.8M | $0 | $0 | $1.4M | $10.3M | $846.0K | $661.4K | $327.4K | $67.8K | $75.0K |
| Total current assets | $950.6M | $695.5M | $416.5M | $405.3M | $384.6M | $322.4M | $265.2M | $78.8M | $67.9M | $90.5M |
| Property, plant and equipment | $382.5M | $386.0M | $290.3M | $110.3M | $48.7M | $30.9M | $23.2M | $13.9M | $15.5M | $15.4M |
| Other intangibles | $6.9M | $8.6M | $10.3M | $12.0M | $13.7M | $15.4M | $17.1M | $18.8M | $20.5M | $22.2M |
| Total assets | $1.39B | $1.14B | $765.6M | $691.9M | $710.1M | $522.5M | $349.8M | $111.6M | $104.0M | $128.2M |
| Accounts payable | $17.7M | $11.4M | $35.9M | $2.9M | $9.5M | $6.8M | $7.6M | $2.8M | $4.1M | $12.2M |
| Total current liabilities | $195.5M | $103.2M | $105.5M | $138.8M | $146.5M | $40.7M | $97.1M | $12.4M | $18.7M | $25.6M |
| Retained earnings | -$1.63B | -$1.63B | -$1.03B | -$820.8M | -$644.7M | -$503.8M | -$419.3M | -$487.3M | -$432.8M | -$398.4M |
| Total equity | $466.1M | $185.4M | $287.2M | $418.3M | $408.8M | $461.8M | $244.0M | $95.2M | $80.9M | $95.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $179.6M | -$462.9M | -$153.9M | -$136.1M | $171.3M | -$95.8M | $173.0M | -$47.2M | -$23.9M | -$64.4M |
| Depreciation and amortisation | $22.2M | $16.9M | $10.7M | $8.7M | $6.6M | $4.2M | $2.7M | $3.0M | $3.0M | $1.5M |
| Stock-based compensation | $63.4M | $74.0M | $78.1M | $120.9M | $76.7M | $43.4M | $12.4M | $8.5M | $7.9M | $11.6M |
| Capital expenditure | $22.7M | $141.5M | $176.7M | $52.8M | $23.6M | $12.0M | $12.0M | $1.4M | $7.9M | $3.9M |
| Investing cash flow | -$129.3M | -$420.1M | -$96.2M | -$5.4M | -$141.7M | -$240.8M | -$47.7M | -$7.4M | -$48.6M | $13.4M |
| Financing cash flow | $74.0M | $870.5M | $253.1M | $65.2M | $11.3M | $257.9M | $66.4M | $60.0M | $12.1M | $55.1M |
| Buybacks | $53.2M | — | — | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000879407-25-000029.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $158.3K | $31.4M | $16.1M | $168.8M | $88.0M | $138.3M | $243.2M | $240.7M | $3.6M | $829.4M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$81.7M | -$34.4M | -$54.5M | $68.0M | -$84.6M | -$140.8M | -$176.1M | -$205.3M | -$599.5M | -$1.6M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Material agreement signed Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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