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SEC filingArrowhead Pharmaceuticals reported fiscal 2026 Q2 revenue of $73.7 million but a net loss of $132.7 million, driven by elevated R&D expenses, alongside strong REDEMPLO commercial momentum and $930 million in financing.
Arrowhead Pharmaceuticals' fiscal 2026 second quarter results reflect a significant year-over-year shift from profitability to losses, primarily due to a sharp decline in revenue from $542.7 million to $73.7 million and increased operating expenses, with R&D rising 30% to $173.3 million amid pipeline advancements. Despite the $141.3 million operating loss, CEO Christopher Anzalone highlighted strong execution across commercial, R&D, and corporate goals, positioning the company for growth. REDEMPLO drove key commercial momentum post its November 2025 FDA approval for FCS, with prescriptions surpassing 400 (40% growth in four weeks), 180 patients shipped, and 85% for APOC3-naive patients. Pricing was updated to $45,000 WAC per patient-year to optimize access. R&D progress included REDEMPLO approvals in Australia, China, Canada, and positive CHMP opinion in Europe, plus long-term data showing 83% TG reduction in SHTG. Pipeline advances featured first dosing in ARO-DIMER-PA Phase 1/2a for ASCVD, obesity data for ARO-INHBE/ARO-ALK7, and the ARO-PNPLA3 license to Madrigal yielding $25 million upfront and up to $975 million milestones. Balance sheet strengthened dramatically with $930 million from convertible notes and equity offerings, boosting total cash resources to $1.78 billion from $919 million at September 30, 2025, supporting sustained investment in the RNAi platform.