Arrowhead Loss Widens as Drug Launch Accelerates
Fiscal third-quarter revenue climbed 171% to $75.3 million as REDEMPLO gained prescribers.
The RNA-interference drug developer Arrowhead Pharmaceuticals (ARWR) reported a wider fiscal third-quarter loss even as its first commercial launch gathered pace. Net loss attributable to the company widened 11% to $194.3 million, or $1.36 a share, from $175.2 million, or $1.26 a share, a year earlier.
REDEMPLO prescription volume roughly doubled during the quarter, extending the ramp from more than 400 cumulative prescriptions and about 30 new prescriptions a week in the preceding period. More than 400 unique practitioners have prescribed the drug, though the company provided no updated cumulative prescription count, patient total, weekly run rate, or share of patients who were new to APOC3 treatment.
Revenue rose to $75.3 million from $27.8 million a year earlier. The increase was outpaced by spending, leaving the operating loss 3% wider at $170.1 million despite the revenue growth.
The company also broadened REDEMPLO’s reach outside the U.S. The European Commission granted marketing authorization after the prior quarter’s positive regulatory opinion, and Australia separately authorized the drug.
Arrowhead reported its first pivotal results from the Phase 3 SHASTA-3 and SHASTA-4 trials. Median triglyceride reductions reached 79% and 81%, respectively, while acute-pancreatitis events fell 78% versus placebo across the severe-hypertriglyceridemia population and 100% in the highest-risk subgroup.
Operating expenses increased 27% to $245.3 million as research-and-development spending rose 22% and selling, general and administrative costs climbed 52%. Arrowhead ended June with $1.57 billion in total cash resources, double the amount at the end of September, as available-for-sale securities rose to $1.55 billion.
Arrowhead added $25 million upfront through a licensing transaction with Madrigal for ARO-PNPLA3 and became eligible for as much as $975 million in milestones, plus royalties. It also acquired an FDA priority-review voucher for a planned plozasiran supplemental application before year-end, potentially shortening the review goal to six months from 10 months.
The YOSEMITE Phase 3 trial completed enrollment after Arrowhead increased its target to 70 patients from 60. Trial completion is anticipated in mid-2027, leaving the next clinical readout beyond the current launch year.