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Arrowhead Pharmaceuticals Inc. (ARWR-1.58%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports a net loss attributable to Arrowhead Pharmaceuticals, Inc. of $173.1 million for the quarter, compared to a net loss of $132.9 million in the same quarter the previous year. The increase in net loss is primarily due to higher research and development expenses as the company's pipeline of drug candidates expands.
Revenue for the quarter was $2.5 million, down from $3.6 million in the previous year. This revenue was primarily driven by collaboration and license agreements with GSK and Takeda.
Research and development expenses increased to $137.0 million from $116.5 million, reflecting the progression of the company's pipeline into later stage clinical trials. General and administrative expenses also rose to $26.9 million from $23.6 million.
The company reported cash, cash equivalents, and restricted cash of $53.9 million as of December 31, 2024, with an additional $499.0 million in available-for-sale securities.
Arrowhead Pharmaceuticals entered into a collaboration agreement with Sarepta Therapeutics, Inc., receiving $325.0 million as an equity investment and expecting an additional $500.0 million as an upfront payment in the second quarter of fiscal 2025.
The company continues to advance its pipeline, including the submission of a New Drug Application to the FDA for one of its candidates, with a PDUFA action date set for November 18, 2025.
Arrowhead Pharmaceuticals anticipates continued increases in research and development expenses as its pipeline progresses through clinical trials and towards commercialization.
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. quarterly 10-Q report dated February 10, 2025. To report an error, please email earnings@qz.com.