Arrowhead Pharmaceuticals(US:ARWR)2024-05-09 20:11Financial Performance - Arrowhead Pharmaceuticals reported a revenue of $146.3 million for the three months ended March 31, 2024, compared to $0 for the same period in 2023[9]. - The net loss attributable to Arrowhead Pharmaceuticals was $125.3 million, compared to a net income of $48.7 million in the same quarter last year[9]. Operating Expenses - Operating expenses increased to $126.2 million in Q2 2024, up from $98.1 million in Q2 2023, with research and development expenses rising to $101.1 million[9]. Clinical Trials and Studies - In the Phase 2 SHASTA-2 study, plozasiran demonstrated placebo-adjusted triglyceride reductions of -49%, -53%, and -57% at week 24, with 90.6% of patients achieving triglyceride levels below 500 mg/dL[4]. - The company dosed the first subjects in two Phase 1/2a clinical trials for ARO-CFB and ARO-DM1, targeting complement factor B and dystrophia myotonica protein kinase, respectively[6]. - Arrowhead plans to begin the regulatory submission process and refine its commercial strategy as it approaches completion of the PALISADE Phase 3 study of plozasiran[2]. Milestone Payments and Funding - The company received a $50 million milestone payment from Royalty Pharma plc following the completion of enrollment in the Phase 3 OCEAN(a) trial of olpasiran[4]. - The company strengthened its balance sheet with a registered offering of common stock, raising approximately $450 million[7]. Cash Resources - Total cash resources (cash and investments) increased to $523.1 million as of March 31, 2024, compared to $403.6 million as of September 30, 2023[9]. Expanded Access Program - Arrowhead initiated an Expanded Access Program for plozasiran for patients with familial chylomicronemia syndrome[5].