Arrowhead Q3 net loss widens to $103M; revenue drops 51%; milestones from GSK and Takeda

ARROWHEAD PHARMACEUTICALS, INC.

2023-Q3 EPS reported -$0.90 revenue$224,638,000

Revenue $15.8M (down 51% YoY from $32.4M); net loss $102.9M (vs $72.0M loss); diluted EPS -$0.96 (vs -$0.68).
Cash and investments $494.5M vs $482.3M at Sept 30, 2022; total assets $795.9M.
Earned $30M milestone from GSK for Phase 2b start of ARO-HSD (NASH); $40M from Takeda for first patient in Phase 3 REDWOOD of fazirsiran.
Completed enrollment of PALISADE Phase 3 for ARO-APOC3; data readout expected Q2 2024.
R&D Day: ARO-RAGE inhaled dose of 184mg achieved 90% mean knockdown; TRiM platform shows CNS and adipose delivery advances.

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