Arrowhead Pharma Q1 revenue $62.5M, net loss narrows to $0.39; sells olpasiran royalty for $250M

ARROWHEAD PHARMACEUTICALS, INC.

2023-Q1 EPS reported -$0.39 revenue$62,546,000

Revenue $62.5M vs $27.4M; net loss $41.3M ($0.39/share) improved from $62.9M ($0.60).
Total cash and investments $617.6M at Dec 31, up from $482.3M at Sep 30.
Earned $25M milestone from Amgen for olpasiran Phase 3 start, $15M from Horizon for HZN-457 Phase 1 start.
Sold olpasiran royalty interest to Royalty Pharma for $250M upfront plus up to $160M contingent payments.
Topline SEQUOIA study: fibrosis regression in 50% of fazirsiran-treated AATD patients.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ARROWHEAD PHARMACEUTICALS, INC. reported first quarter ended December 31, 2022 results: revenue $62,546, net income ($41,325), EPS $(0.39).

Period: first quarter ended December 31, 2022
Revenue: $62,546
Net income: ($41,325)
EPS: $(0.39)
Result: reported results

Exact text from the filing

INC. CONSOLIDATED CONDENSED FINANCIAL INFORMATION (in thousands, except per share amounts) Year Ended December 31, OPERATING SUMMARY 2022 2021 (unaudited) Revenue $ 62,546 $ 27,439 Operating Expenses: Research and development 83,695 65,765 General and administrative expenses 20,985 24,995 Total Operating Expenses 104,680 90,760 Operating loss

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Source: SEC EDGAR

accession 0001628280-23-002417

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