ARROWHEAD PHARMACEUTICALS, INC. (ARWR): Results of Operations and Financial Condition
ARROWHEAD PHARMACEUTICALS, INC. (ARWR) filed an SEC Form 8-K — Results of Operations and Financial Condition. EXHIBIT 99.1 PRESS RELEASE August 4, 2026 Arrowhead Pharmaceuticals Reports Fiscal 2026 Third Quarter Results Conference Call and Webcast Today, August 4, 2026 at 4:30 p.m. ET PASADENA, Calif., August 4, 2026 — Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) today announced financ
How this was made
The 30-second read
Why it matters
Traders can update probabilities for plozasiran’s severe hypertriglyceridemia label expansion based on SHASTA-3/4 topline results and the company’s stated intent to use an FDA priority review voucher for an sNDA submission before end-2026. Commercial momentum for REDEMPLO and new ex-US authorizations add additional near-term sentiment support.
Market read
Material, company-specific catalysts across clinical efficacy, regulatory acceleration, and commercialization, released via an 8-K with an investor call scheduled the same day.
What to watch
The article provides limited detail on revenue trajectory drivers beyond prescription volume and does not quantify guidance or full financial outlook in the excerpt, which could temper the stock reaction.
Arrowhead Pharmaceuticals Reports Fiscal 2026 Third Quarter Results
Revenue was $75,253 (in thousands), compared with $27,767 (in thousands), while net loss attributable to Arrowhead Pharmaceuticals, Inc. was $ (194,280) (in thousands), compared with $ (175,241) (in thousands). The period included reported REDEMPLO prescription momentum, positive Phase 3 plozasiran data, and a strengthened cash-resource position, but research and development expense and selling, general and administrative expense were both higher than the comparable period.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| RevenueGAAP | $ 75,253 (in thousands) | – | – |
| Research and developmentGAAP | 198,223 (in thousands) | – | – |
| Selling, general and administrativeGAAP | 47,123 (in thousands) | – | – |
| Total operating expensesGAAP | 245,346 (in thousands) | – | – |
| Operating lossGAAP | (170,093) (in thousands) | – | – |
| Total other expenseGAAP | (8,812) (in thousands) | – | – |
| Loss before income tax expense and noncontrolling interestGAAP | (178,905) (in thousands) | – | – |
| Income tax expense (benefit)GAAP | 11 (in thousands) | – | – |
| Net loss including noncontrolling interestGAAP | (178,916) (in thousands) | – | – |
| Net income (loss) attributable to noncontrolling interest, net of taxGAAP | 15,364 (in thousands) | – | – |
| Net loss attributable to Arrowhead Pharmaceuticals, Inc.GAAP | $ (194,280) (in thousands) | – | – |
| Net loss per share attributable to Arrowhead Pharmaceuticals, Inc. - DilutedGAAP | $ (1.36) | – | – |
| Weighted-average shares used in calculating - DilutedGAAP | 143,378 (in thousands) | – | – |
| Cash, cash equivalents and restricted cashGAAP | $ 19,685 (in thousands) as of June 30, 2026 | – | – |
| Available-for-sale securities, at fair valueGAAP | 1,547,201 (in thousands) as of June 30, 2026 | – | – |
| Total cash resources (Cash, cash equivalents and restricted cash and Available-for-sale securities, at fair value)GAAP | 1,566,886 (in thousands) as of June 30, 2026 | – | – |
| Other current and long-term assetsGAAP | 545,127 (in thousands) as of June 30, 2026 | – | – |
| Total AssetsGAAP | $ 2,112,013 (in thousands) as of June 30, 2026 | – | – |
| Liability related to the sale of future royaltiesGAAP | $ 392,512 (in thousands) as of June 30, 2026 | – | – |
| Credit FacilityGAAP | 181,366 (in thousands) as of June 30, 2026 | – | – |
| Deferred revenueGAAP | 126,339 (in thousands) as of June 30, 2026 | – | – |
| Convertible notes, netGAAP | 682,707 (in thousands) as of June 30, 2026 | – | – |
| Other liabilitiesGAAP | 263,048 (in thousands) as of June 30, 2026 | – | – |
| Total LiabilitiesGAAP | $ 1,645,972 (in thousands) as of June 30, 2026 | – | – |
| Total Arrowhead Pharmaceuticals, Inc. Stockholders' EquityGAAP | 465,529 (in thousands) as of June 30, 2026 | – | – |
| Noncontrolling InterestGAAP | 512 (in thousands) as of June 30, 2026 | – | – |
| Total Noncontrolling Interest and Stockholders' EquityGAAP | $ 466,041 (in thousands) as of June 30, 2026 | – | – |
| Total Liabilities, Noncontrolling Interest and Stockholders' EquityGAAP | $ 2,112,013 (in thousands) as of June 30, 2026 | – | – |
| Shares Outstandingother | 141,135 (in thousands) as of June 30, 2026 | – | – |
Fiscal 2026 and mid-2027 outlook
- NoteThe Company anticipates that YOSEMITE will be completed in mid-2027.
- NoteThe company intends to use its FDA priority review voucher with its upcoming plozasiran sNDA submission, anticipated before the end of 2026.
- NoteDetailed SHASTA-3 and SHASTA-4 results will be presented at the European Society of Cardiology Congress on August 30, 2026.
What drove it
- REDEMPLO prescription volume roughly doubled during the fiscal third quarter.
- More than 400 unique practitioners have now prescribed REDEMPLO.
- REDEMPLO now has favorable policies in place for the most significant U.S. payers and overall coverage is progressing at a fast trajectory.
- SHASTA-3 and SHASTA-4 met the primary endpoint of triglyceride reduction versus placebo and all prespecified secondary endpoints in both studies.
- Median triglyceride reductions of 79% and 81% from baseline were observed in SHASTA-3 and SHASTA-4, respectively.
- A statistically significant 78% reduction in acute pancreatitis events versus placebo was observed across the entire severe hypertriglyceridemia study population.
- Madrigal Pharmaceuticals made a $25 million upfront payment under the exclusive worldwide license agreement for ARO-PNPLA3.
Concerns
- Net loss attributable to Arrowhead Pharmaceuticals, Inc. was $ (194,280) (in thousands), compared with $ (175,241) (in thousands).
- Research and development expense was 198,223 (in thousands), compared with 162,368 (in thousands).
- Selling, general and administrative expense was 47,123 (in thousands), compared with 30,949 (in thousands).
- Convertible notes, net were 682,707 (in thousands) as of June 30, 2026.
- No operating cash flow, free cash flow, gross margin, non-GAAP results, or financial outlook was reported in the provided release.
What to watch
- Detailed SHASTA-3 and SHASTA-4 results scheduled for presentation on August 30, 2026.
- The anticipated plozasiran sNDA submission before the end of 2026 for a potential severe hypertriglyceridemia indication expansion.
- Completion of the YOSEMITE Phase 3 clinical trial anticipated in mid-2027.
- REDEMPLO prescription volume, practitioner adoption, and payer coverage progression.
- Development, regulatory, and sales milestone payments of up to $975 million and tiered royalties ranging from high-single digits to mid-teens under the Madrigal ARO-PNPLA3 agreement.
Balance sheet and cash flow
- Total cash resources (Cash, cash equivalents and restricted cash and Available-for-sale securities, at fair value) were 1,566,886 (in thousands) as of June 30, 2026.
- Cash, cash equivalents and restricted cash were $ 19,685 (in thousands) as of June 30, 2026.
- Available-for-sale securities, at fair value were 1,547,201 (in thousands) as of June 30, 2026.
- Credit Facility was 181,366 (in thousands) as of June 30, 2026.
- Convertible notes, net were 682,707 (in thousands) as of June 30, 2026.
- Liability related to the sale of future royalties was $ 392,512 (in thousands) as of June 30, 2026.
Analysis
Arrowhead reported revenue of $75,253 (in thousands) for the three months ended June 30, 2026, compared with $27,767 (in thousands) for the three months ended June 30, 2025. The release identified commercial momentum for REDEMPLO, stating that prescription volume roughly doubled during the fiscal third quarter, more than 400 unique practitioners have prescribed the drug, and favorable policies are in place for the most significant U.S. payers. Marketing authorizations in the European Union and Australia added to the commercial footprint described in the release.
The expense base remained substantial. Research and development expense was 198,223 (in thousands), compared with 162,368 (in thousands), and selling, general and administrative expense was 47,123 (in thousands), compared with 30,949 (in thousands). Total operating expenses were 245,346 (in thousands), producing an operating loss of (170,093) (in thousands). Net loss attributable to Arrowhead Pharmaceuticals, Inc. was $ (194,280) (in thousands), or $ (1.36) per diluted share, versus $ (175,241) (in thousands), or $ (1.26) per diluted share.
Clinical execution was a central feature of the period. SHASTA-3 and SHASTA-4 met their primary and all prespecified secondary endpoints, with median triglyceride reductions of 79% and 81%, respectively. The company also reported a statistically significant 78% reduction in acute pancreatitis events versus placebo across the severe hypertriglyceridemia study population. Arrowhead completed enrollment in the YOSEMITE Phase 3 trial after increasing target enrollment from 60 participants to 70 patients following reported global patient and physician interest.
The June 30, 2026 balance sheet showed total cash resources of 1,566,886 (in thousands), consisting of $ 19,685 (in thousands) of cash, cash equivalents and restricted cash and 1,547,201 (in thousands) of available-for-sale securities. Total liabilities were $ 1,645,972 (in thousands), including 682,707 (in thousands) of convertible notes, net, 181,366 (in thousands) under the Credit Facility, and $ 392,512 (in thousands) related to the sale of future royalties. The Madrigal ARO-PNPLA3 license brought a $25 million upfront payment and provides eligibility for development, regulatory, and sales milestones of up to $975 million, plus tiered royalties.
The release did not provide revenue, expense, margin, or tax-rate financial guidance. Forward milestones include detailed SHASTA-3 and SHASTA-4 data on August 30, 2026, an anticipated plozasiran sNDA submission before the end of 2026 using the acquired priority review voucher, and anticipated YOSEMITE completion in mid-2027. The next reported catalysts therefore center on the detailed Phase 3 dataset, regulatory submission timing, REDEMPLO commercial adoption, and the scale of spending and losses alongside pipeline advancement.
Management, verbatim
The recent period for Arrowhead included transformational events that support continued growth.
Christopher Anzalone, Ph.D., President and CEO at Arrowhead Pharmaceuticals
Lastly, we made strong progress across our broad pipeline of RNAi therapeutic candidates at various stages of development, expanding the opportunity to help patients in diverse disease areas.
Christopher Anzalone, Ph.D., President and CEO at Arrowhead Pharmaceuticals
Not in the filing
stated, not guessed- Gross profit and gross margin
- Operating income
- Non-GAAP revenue, earnings, earnings per share, or other non-GAAP measures
- Segment revenue and segment profitability
- Prior-quarter financial comparisons
- Reported year-over-year and quarter-over-quarter percentage changes for financial metrics
- Operating cash flow
- Free cash flow
- Capital expenditures
- Share repurchases
- Dividends
- Financial revenue guidance
- Financial gross-margin guidance
- Financial operating-expense guidance
- Financial tax-rate guidance
- Prior-period outlook for comparison
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
This is an SEC Form 8-K (Item 2.02) with an attached press release covering Arrowhead’s fiscal 2026 third-quarter results and multiple clinical, regulatory, and commercial updates.
Ticker impact
Arrowhead reported fiscal Q3 results and disclosed SHASTA-3/4 topline success for plozasiran, plus a newly acquired FDA priority review voucher tied to an sNDA before end-2026.
Near-term upside bias as traders price in accelerated FDA review timing and stronger efficacy/safety signals; volatility likely around the upcoming ESC Aug 30 late-breaker and sNDA timing.
The filing is a primary disclosure (8-K with results and press release) and includes multiple concrete catalysts: SHASTA-3/4 primary endpoint met, large median TG reductions, acute pancreatitis event reduction, and a PRV acquisition intended for an sNDA submission before end-2026.
Market effects
Reinforces momentum for RNAi therapeutics in cardiometabolic indications, potentially improving sentiment toward the broader RNAi/rare-disease biotech complex.
European Commission and Australia approvals for REDEMPLO expand ex-US commercialization credibility, supporting cross-region sales expectations.
ESC Aug 30 late-breaker and multi-geography regulatory plans can influence global risk appetite for lipid-disorder therapies.
Counterpoint
Despite strong topline efficacy, regulatory outcomes and commercial uptake remain uncertain, and the PRV does not guarantee approval or label expansion.
Key entities
- issuerArrowhead Pharmaceuticals, Inc.
NASDAQ-listed RNAi therapeutics company reporting fiscal 2026 Q3 results and disclosing plozasiran Phase 3 topline outcomes, PRV acquisition, and REDEMPLO commercialization/regulatory milestones.
- product_candidatePlozasiran
Arrowhead’s RNAi therapeutic for severe hypertriglyceridemia; SHASTA-3 and SHASTA-4 met primary and secondary endpoints per the filing.
- productREDEMPLO
Commercial RNAi medicine for familial chylomicronemia syndrome; the company reports prescription volume growth and new EC and TGA marketing authorizations.
- counterpartyMadrigal Pharmaceuticals
Partner in an exclusive worldwide license agreement for ARO-PNPLA3, including a $25 million upfront payment and potential milestones/royalties.
