Arrowhead Pharmaceuticals Reports Fiscal 2019 First Quarter Results

February 7, 2019 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 2019 first quarter ended December 31, 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 3194897.

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 3194897.

Selected Fiscal 2019 First Quarter and Recent Events

Selected Fiscal 2019 First Quarter Financial Results

ARROWHEAD PHARMACEUTICALS, INC.
CONSOLIDATED CONDENSED FINANCIAL INFORMATION (unaudited)
Three Months Ended December 31,

OPERATING SUMMARY

2018 2017
REVENUE $ 34,657,896 $ 3,509,821
OPERATING EXPENSES
Research and development 17,572,043 12,919,618
General and administrative expenses 6,139,709 4,403,551
TOTAL OPERATING EXPENSES 23,711,752 17,323,169
OPERATING INCOME (LOSS) 10,946,144 (13,813,348 )
OTHER INCOME/(EXPENSE), PROVISION FOR INCOME TAXES 1,091,109 614,470
NET INCOME (LOSS) $ 12,037,253 $ (13,198,878 )
NET INCOME (LOSS) PER SHARE (DILUTED) $ 0.13 $ (0.18 )
WEIGHTED AVERAGE SHARES OUTSTANDING (DILUTED) 95,590,183 74,831,415

FINANCIAL POSITION SUMMARY

December 31, September 30,
2018 2018
CASH AND CASH EQUIVALENTS $ 189,772,981 $ 30,133,213
SHORT-TERM INVESTMENTS 53,980,307 46,400,176
LONG-TERM INVESTMENTS 59,595,287 -
TOTAL CASH RESOURCES (CASH AND INVESTMENTS) 303,348,575 76,533,389
OTHER ASSETS 37,598,813 35,076,562
TOTAL ASSETS 340,947,388 111,609,951
TOTAL CURRENT DEFERRED REVENUE 124,925,638 600
TOTAL LONG TERM DEFERRED REVENUE 33,171,402 -
OTHER LIABILITIES 11,350,317 16,368,350
TOTAL LIABILITIES 169,447,357 16,368,950
TOTAL STOCKHOLDERS' EQUITY 171,500,031 95,241,001
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 340,947,388 $ 111,609,951
SHARES OUTSTANDING 92,591,457 88,502,302

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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