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Arrowhead Pharmaceuticals Reports Fiscal 2018 Year End Results
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Arrowhead Pharmaceuticals Reports Fiscal 2018 Year End Results
Dec 11, 2018 at 4:00 PM EST
Conference Call and Webcast Today at 4:30 p.m. EST PASADENA, Calif. --(BUSINESS WIRE)--Dec. 11, 2018-- Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR) today announced financial results for its fiscal 2018 fourth quarter and year ended September 30, 2018 .
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Conference Call and Webcast Today at 4:30 p.m. EST
PASADENA, Calif.--(BUSINESS WIRE)--Dec. 11, 2018-- Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR) today announced financial results for its fiscal 2018 fourth quarter and year ended September 30, 2018. The company is hosting a conference call at 4:30 p.m. EST to discuss results.
Conference Call and Webcast Details
Investors may access a live audio webcast on the Company's website at http://ir.arrowheadpharma.com/events.cfm. For analysts that wish to participate in the conference call, please dial 855-215-6159 or 315-625-6887 and provide Conference ID 6744427.
A replay of the webcast will be available on the company’s website approximately two hours after the conclusion of the call and will remain available for 90 days. An audio replay will also be available approximately two hours after the conclusion of the call and will be available for 3 days. To access the audio replay, dial 855-859-2056 or 404-537-3406 and provide Conference ID 6744427.
Selected Fiscal 2018 and Recent Events
Hosted an Analyst R&D Day in September 2017 to highlight the following:
The Targeted RNAi Molecule platform, or TRiMTM, which utilizes ligand-mediated delivery and is designed to enable tissue-specific targeting, while being structurally simple. The TRiMTM platform offers several potential competitive advantages including:
A more sophisticated RNAi trigger selection and screening process that identifies potent sequences rapidly in locations that RNAi competitors may miss
Multiple routes of administration including subcutaneous, intravenous, and inhaled
Faster time to clinical candidates
Optimal pharmacologic activity and long duration-of-effect
Potentially wide safety margins
Simplified manufacturing at reduced cost
And, the promise of taking RNAi to tissues beyond the liver
Presented new clinical data at HEP DART 2017 and EASL 2018 demonstrating up to 5.3 Log10 reduction in HBV s-antigen and a Sustained Host Response in 50% of hepatitis B patients following first generation RNAi therapy, ARC-520, in the 2001 open label extension study
One patient serocleared all viral markers, including HBsAg
Began a Phase 1 study of ARO-AAT, Arrowhead’s second generation subcutaneously administered RNAi therapeutic being developed as a treatment for a rare genetic liver disease associated with alpha-1 antitrypsin deficiency
Began a Phase 1/2 study of ARO-HBV, a third-generation subcutaneously administered RNAi therapeutic candidate being developed as a potential treatment for patients with chronic hepatitis B virus infection
Announced that Amgen had administered the first dose of AMG 890, formerly ARO-LPA, in a Phase 1 clinical study, which earned Arrowhead a $10 million milestone payment
Presented clinical data on ARO-AAT at the Alpha-1 National Education Conference and at the AASLD Liver Meeting 2018 demonstrating:
Three monthly doses of 300 mg ARO-AAT led to reductions in serum alpha-1 antitrypsin to below the level of quantitation in 100% of subjects
Reductions were sustained for greater than 14 weeks indicating that quarterly or less frequent dosing appears feasible
Single and multiple doses of ARO-AAT appeared to be well-tolerated at all doses tested
Presented clinical data on ARO-HBV at the World Gastroenterologists Summit and at the AASLD Liver Meeting 2018 demonstrating:
Mean HBsAg reduction of -1.9 Log10 (-98.7%) with a range of -1.3 Log10 (-95.0%) to -3.8 Log10 (-99.98%)
ARO-HBV appeared to be well-tolerated at monthly doses up to 400 mg
Signed a license agreement with Janssen Pharmaceuticals, Inc., part of the Janssen Pharmaceuticals Companies of Johnson & Johnson, for ARO-HBV and a collaboration agreement for up to three RNAi therapeutic candidates that use our proprietary TRiMTM platform against new targets to be selected by Janssen
The total potential deal value is approximately $3.7 billion plus royalties on commercial sales
Received $175 million as an upfront payment and received $75 million in the form of an equity investment by Johnson & Johnson Innovation – JJDC, Inc., at a price of $23.00 per share of Arrowhead common stock
Hosted an R&D Day in October 2018 to discuss in more detail our emerging pipeline of RNAi therapeutics that leverage the TRiMTM platform
Filed for regulatory clearance to begin a Phase 1 study of ARO-ANG3, an RNAi-based investigational medicine targeting angiopoietin like protein 3 (ANGPTL3) being developed for the treatment of dyslipidemias and metabolic diseases
Selected Fiscal 2018 Year End Financial Results
ARROWHEAD PHARMACEUTICALS, INC.
CONSOLIDATED FINANCIAL INFORMATION
Year Ended September 30,
OPERATING SUMMARY
2018 2017
REVENUE $ 16,142,321 $ 31,407,709
OPERATING EXPENSES
Research and development 52,968,505 50,904,466
General and administrative expenses 19,110,051 17,499,152
TOTAL OPERATING EXPENSES 72,078,556 68,403,618
OPERATING LOSS (55,936,235 ) (36,995,909 )
OTHER INCOME/(EXPENSE), PROVISION FOR INCOME TAXES 1,485,757 2,615,614
NET LOSS $ (54,450,478 ) $ (34,380,295 )
NET LOSS PER SHARE (BASIC AND DILUTED): $ (0.65 ) $ (0.47 )
WEIGHTED AVERAGE SHARES OUTSTANDING 83,638,469 73,898,598
FINANCIAL POSITION SUMMARY
September 30, September 30,
2018 2017
CASH AND CASH EQUIVALENTS $ 30,133,213 $ 24,838,567
SHORT-TERM INVESTMENTS 46,400,176 40,769,539
TOTAL CASH RESOURCES (CASH AND INVESTMENTS) 76,533,389 65,608,106
OTHER ASSETS 35,076,562 38,414,174
TOTAL ASSETS 111,609,951 104,022,280
TOTAL LIABILITIES 16,368,950 23,155,118
TOTAL STOCKHOLDERS' EQUITY 95,241,001 80,867,162
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 111,609,951 $ 104,022,280
SHARES OUTSTANDING |
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发表于 2018-12-13 19:38
