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Arrowhead Pharmaceuticals, Inc. has submitted its 10-K filing for the fiscal year ended September 30, 2024.
The filing details the company's efforts in developing RNA interference-based therapeutics, with a pipeline that includes candidates for cardiometabolic, pulmonary, liver, muscle, and central nervous system diseases.
Arrowhead reported a net loss of $599.5 million for the fiscal year, compared to a net loss of $205.3 million in the previous year. The increase in net loss is attributed to decreased revenue from collaboration agreements and increased research and development expenses.
Revenue for the fiscal year was $3.6 million, a decrease from $240.7 million in the prior year, primarily due to a decrease in revenue recognition from license and collaboration agreements.
Research and development expenses increased to $505.9 million from $353.2 million, reflecting the expansion and progression of the company's pipeline candidates into later-stage clinical trials.
General and administrative expenses were $98.8 million, up from $92.5 million, driven by increased salaries and professional services.
The company ended the fiscal year with $102.7 million in cash, cash equivalents, and restricted cash, and $578.3 million in available-for-sale securities.
Arrowhead entered into a $500 million senior secured term loan facility with Sixth Street Lending Partners, with $400 million funded on the closing date.
The company also raised $429.3 million from an underwritten offering of common stock.
Arrowhead's management believes its current financial resources are sufficient to fund operations for at least the next twelve months.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Arrowhead Pharmaceuticals Inc. annual 10-K report dated November 26, 2024. To report an error, please email earnings@qz.com.