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Dec 31, 2023
Arrowhead Pharmaceuticals Q1 2024 Earnings Report
Reported first quarter results for fiscal year 2024.
Key Takeaways
Arrowhead Pharmaceuticals reported a net loss attributable to Arrowhead Pharmaceuticals, Inc. of $132.864 million, or $1.24 per share, on revenue of $3.551 million for the fiscal 2024 first quarter ended December 31, 2023.
Continued to build the cardiometabolic vertical to include two new additional complementary medicines designed to treat obesity and metabolic disease.
Performed a portfolio review and R&D organization restructuring resulting in key changes, including focusing investment in late-stage clinical development and build out commercial infrastructure.
Strengthened the balance sheet through an underwritten registered offering of common stock gross proceeds of approximately $450 million.
Completed chronic GLP toxicology for pulmonary candidates ARO-RAGE and ARO-MMP7, with highly encouraging results.
Forward Guidance
Arrowhead Pharmaceuticals identified opportunities to reduce forward operating cash burn guidance by up to $100 million, approximately $30 million per quarter, while retaining full funding and investment in core cardiometabolic and pulmonary programs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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