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ARWR

Arrowhead Pharmaceuticals, Inc.

ARWR

Arrowhead Pharmaceuticals, Inc. • NASDAQ
$52.70 ▼ -8.68% (-5.01)
Market Cap $7.29 B
52w High $59.15
52w Low $9.57
Dividend Yield 0%
P/E -5270
Volume 2.05M
Outstanding Shares 138.26M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $27.767M ▼ $187.094M ▲ $-175.241M ▼ -631.112% ▼ $-1.26 ▼ $-148.484M ▼
Q2-2025 $542.709M ▲ $161.507M ▼ $370.445M ▲ 68.258% ▲ $2.78 ▲ $397.339M ▲
Q1-2025 $2.5M ▼ $163.912M ▲ $-173.085M ▼ -6.923K% ▼ $-1.39 ▲ $-148.234M ▲
Q4-2024 $23.589M ▲ $162.203M ▼ $-170.536M ▲ -722.947% ▼ $-1.4 ▼ $-153.126M ▲
Q3-2024 $0 $176.141M $-170.793M 0% $-1.38 $-164.101M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $900.372M ▼ $1.381B ▼ $860.806M ▼ $519.806M ▼
Q2-2025 $1.097B ▲ $1.573B ▲ $889.273M ▼ $683.321M ▲
Q1-2025 $552.935M ▼ $1.014B ▼ $957.619M ▲ $52.589M ▼
Q4-2024 $680.961M ▲ $1.14B ▲ $948.739M ▲ $185.444M ▼
Q3-2024 $436.671M $883.759M $544.785M $330.547M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-178.652M ▼ $-154.72M ▼ $141.39M ▲ $-42.679M ▼ $-55.916M ▼ $-157.084M ▼
Q2-2025 $367.863M ▲ $460.053M ▲ $-420.213M ▼ $92.382M ▲ $131.82M ▲ $454.756M ▲
Q1-2025 $-175.218M ▼ $-146.272M ▼ $76.91M ▲ $20.634M ▼ $-48.796M ▼ $-153.788M ▲
Q4-2024 $-173.344M ▲ $-137.216M ▼ $-222.923M ▼ $389.089M ▲ $33.286M ▲ $-161.505M ▼
Q3-2024 $-173.977M $-115.418M $6.949M $50.387M $-58.305M $-129.867M

Five-Year Company Overview

Income Statement

Income Statement Arrowhead is still very much a development‑stage biotech company. Revenue is small and uneven, mostly coming from partnerships rather than product sales, and it even dipped in the most recent year. At the same time, research and operating costs are climbing, so operating losses and net losses have grown meaningfully. Earnings per share have weakened as spending has scaled up faster than collaboration income. Overall, the income statement shows a company investing heavily ahead of any commercial pay‑off, with losses that are material and widening rather than narrowing so far.

Balance Sheet

Balance Sheet The balance sheet shows a business that has built up a solid asset base but is leaning more on debt and has seen its equity cushion shrink over time. Total assets have grown, which reflects investment in the pipeline and infrastructure, but cash on hand has trended down from earlier years. Debt has risen significantly from modest levels, meaning leverage is now an important factor to watch. Shareholders’ equity has eroded as losses accumulate, leaving a thinner buffer against future setbacks. Financial flexibility is still present, but the balance sheet is clearly under more pressure than a few years ago.

Cash Flow

Cash Flow Cash flow reflects the classic profile of a clinical‑stage biotech: money flows out, not in. Operating cash flow, which was briefly positive earlier in the period (likely helped by upfront payments), has turned negative again and become more deeply so as development spending increased. Free cash flow is firmly negative, and capital spending has stepped up, suggesting ongoing investment in labs, manufacturing, and platform capabilities. This means the company remains reliant on external financing—whether equity, debt, or partnering cash—to fund its plans until meaningful product revenue appears.

Competitive Edge

Competitive Edge Arrowhead occupies a differentiated niche within RNA interference therapies. Its proprietary TRiM platform is designed to deliver drugs not only to the liver but also to tissues like lung, muscle, and potentially the brain—areas that many competitors find harder to reach. The company has a broad pipeline rather than a single main asset, spreading scientific and commercial risk across multiple programs in cardiovascular, pulmonary, liver, and metabolic diseases. Partnerships with large pharma players give external validation, access to resources, and non‑dilutive funding. The flip side is that Arrowhead operates in a crowded, fast‑moving field, and it still lacks approved products, so its competitive strength is based on technology promise and partnerships rather than proven commercial success.

Innovation and R&D

Innovation and R&D Innovation is Arrowhead’s core asset. The TRiM platform aims to make RNAi drugs more targeted, simpler to manufacture, and potentially safer. The pipeline reaches into important, high‑value areas: severe lipid disorders, cardiovascular disease, rare liver conditions, pulmonary diseases, obesity, and central nervous system disorders such as Parkinson’s. Notably, the move into obesity and the brain sets Arrowhead apart, as success there could open very large markets with few effective gene‑silencing options today. Strong intellectual property, in‑licensed portfolios, and multiple high‑profile collaborations suggest the science is respected across the industry. However, most value is still in the clinic, not on the market, so the R&D story carries the usual binary risks of trial outcomes and regulatory decisions.

Summary

Arrowhead is a high‑risk, high‑potential RNAi platform company: its financials show a clear pattern of rising spending, persistent and growing losses, and increasing reliance on debt and external funding, while its technology and pipeline suggest meaningful upside if key programs succeed. The balance sheet is weaker than a few years ago, and cash burn is significant, so financing and execution risk are important considerations. On the strategic side, the TRiM platform, broad tissue targeting, diversified pipeline, and blue‑chip partners create a credible competitive position in an emerging field. Overall, this is a science‑driven story where future outcomes will depend heavily on clinical data, regulatory progress, and the company’s ability to manage its cash and partnerships until products can generate sustainable revenue.

NEWS

November 25, 2025 · 4:00 PM UTC

Arrowhead Pharmaceuticals Reports 2025 Fiscal Year-End Results

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November 24, 2025 · 7:30 AM UTC

Arrowhead Pharmaceuticals Earns $200 Million Milestone Payment from Sarepta Therapeutics

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November 18, 2025 · 11:52 AM UTC

Arrowhead Pharmaceuticals Announces FDA Approval of REDEMPLO® (plozasiran) to Reduce Triglycerides in Adults with Familial Chylomicronemia Syndrome (FCS)

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November 6, 2025 · 4:30 PM UTC

Arrowhead Pharmaceuticals to Webcast Fiscal 2025 Year-End Results

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November 4, 2025 · 7:30 AM UTC

Arrowhead Pharmaceuticals to Participate in Upcoming November 2025 Conferences

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