Arrowhead reports Q1 revenue of $3.55M, down 94% YoY; operating loss $136.5M; cuts cash burn by up to $100M

ARROWHEAD PHARMACEUTICALS, INC.

2024-Q1 EPS reported -$1.24 revenue$3,551,000

Revenue $3.55M vs $62.55M YoY; net loss $132.9M ($1.24 EPS) from $41.3M ($0.39 EPS) loss prior year.
Operating expenses $140.1M (R&D $116.5M, G&A $23.6M); operating loss $136.5M.
Cuts forward cash burn guidance by up to $100M (~$30M/qtr); completed $450M stock offering.
Terminated ARO-SOD1 and HZN-457; focuses on cardiometabolic, pulmonary programs; hired interim chief medical scientist.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ARROWHEAD PHARMACEUTICALS, INC. reported fiscal 2024 first quarter ended December 31, 2023 results: revenue $ 3,551, net income $ (132,864), EPS $ (1.24).

Period: fiscal 2024 first quarter ended December 31, 2023
Revenue: $ 3,551
Net income: $ (132,864)
EPS: $ (1.24)
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 2023 2022 (Unaudited) Revenue $ 3,551 $ 62,546 Operating Expenses: Research and development 116,491 83,695 General and administrative expenses 23,605 20,985 Total Operating Expenses 140,096 104,680 Operating loss

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Source: SEC EDGAR

accession 0001628280-24-003488

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