Arrowhead Q2 net loss $125.3M ($1.02/share) vs prior year net income $48.7M; revenue $0

ARROWHEAD PHARMACEUTICALS, INC.

2024-Q2 EPS reported -$2.24 revenue$3,551,000

Net loss of $125.3 million ($1.02 diluted loss per share) compared to net income of $48.7 million ($0.45 diluted EPS) in Q2 2023.
Revenue was $0, down from $146.3 million a year ago, with no milestone or collaboration revenue recorded.
R&D expenses rose to $101.1 million from $74.9 million; cash and investments totaled $523.1 million, boosted by $450 million stock offering.
Received $50 million milestone from Royalty Pharma in Q3 for olpasiran Phase 3 enrollment completion (Amgen-conducted trial).
Positive Phase 2 SHASTA-2 plozasiran data: 90.6% of patients achieved triglycerides <500 mg/dL at week 24.

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 Fiscal 2024 second quarter (three months ended March 31, 2024) results: net income Net (loss) income attributable to Arrowhead Pharmaceuticals, Inc. $ (125,300), EPS Net (loss) income per share attributable to Arrowhead Pharmaceuticals, Inc. - Diluted $ (1.02).

Period: Fiscal 2024 second quarter (three months ended March 31, 2024)
Net income: Net (loss) income attributable to Arrowhead Pharmaceuticals, Inc. $ (125,300)
EPS: Net (loss) income per share attributable to Arrowhead Pharmaceuticals, Inc. - Diluted $ (1.02)
Result: reported results

Exact text from the filing

OPERATING SUMMARY 2024 2023 (Unaudited) Revenue $ — $ 146,267 Operating Expenses: Research and development 101,122 74,881 General and administrative expenses 25,069 23,221 Total Operating Expenses 126,191 98,102 Operating (loss) income (126,191) 48,165 Total other expense (805) (489) (Loss) income before income tax expense and noncontrolling interest (126,996) 47,676 Income tax expense — — Net (loss) income including noncontrolling interest (126,996) 47,676 Net (loss) income attributable to noncontrolling interest, net of tax (1,696) (999) Net (loss) income attributable to Arrowhead Pharmaceuticals, Inc. $ (125,300) $ 48,675 Net (loss) income per share attributable to Arrowhead Pharmaceuticals, Inc. - Diluted $ (1.02) $ 0.45

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Source: SEC EDGAR

accession 0001628280-24-022233

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