Arrowhead Pharmaceuticals Reports Fiscal 2018 Year End Results

December 11, 2018 4:00 PM

Conference Call and Webcast Today at 4:30 p.m. EST

PASADENA, Calif.--(BUSINESS WIRE)-- 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

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 88,505,302 74,785,426

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals develops medicines that treat intractable diseases by silencing the genes that cause them. Using a broad portfolio of RNA chemistries and efficient modes of delivery, Arrowhead therapies trigger the RNA interference mechanism to induce rapid, deep, and durable knockdown of target genes. RNA interference, or RNAi, is a mechanism present in living cells that inhibits the expression of a specific gene, thereby affecting the production of a specific protein. Arrowhead’s RNAi-based therapeutics leverage this natural pathway of gene silencing.

For more information, please visit www.arrowheadpharma.com, or follow us on Twitter @ArrowheadPharma. To be added to the Company's email list and receive news directly, please visit http://ir.arrowheadpharma.com/email-alerts.

Safe Harbor Statement under the Private Securities Litigation Reform Act:

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the safety and efficacy of our product candidates, the duration and impact of regulatory delays in our clinical programs, our ability to finance our operations, the likelihood and timing of the receipt of future milestone and licensing fees, the future success of our scientific studies, our ability to successfully develop and commercialize drug candidates, the timing for starting and completing clinical trials, rapid technological change in our markets, and the enforcement of our intellectual property rights. Our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q discuss some of the important risk factors that may affect our business, results of operations and financial condition. We assume no obligation to update or revise forward-looking statements to reflect new events or circumstances.

Source: Arrowhead Pharmaceuticals, Inc.

Arrowhead Pharmaceuticals, Inc.

Vince Anzalone, CFA

626-304-3400

ir@arrowheadpharma.com

Investors and Media:

LifeSci Advisors, LLC

Brian Ritchie

212-915-2578

britchie@lifesciadvisors.com

www.lifesciadvisors.com

Source: Arrowhead Pharmaceuticals Inc.

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