Overview
RNAi therapeutics firm's fiscal Q1 revenue rose but missed analyst expectations
Company launched first commercial product, REDEMPLO, in the U.S.
Company closed public offerings raising $930 mln, improving financial position
Outlook
Arrowhead anticipates REDEMPLO will be marketed independently in Canada later this year
Company plans to advance RNAi therapeutics for cardiovascular disease and tauopathies
Arrowhead expects to leverage improved financial position for program advancements
Result Drivers
REDEMPLO LAUNCH - Arrowhead launched its first commercial product, REDEMPLO, in the U.S. and received regulatory approvals in China and Canada, contributing to revenue growth
OBESITY PROGRAMS - Encouraging early results from obesity programs, including significant weight loss and fat reduction in trials, were reported
FINANCIAL POSITION - Arrowhead improved its financial position with $930 mln raised from public offerings and a $200 mln milestone payment from Sarepta Therapeutics
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue | Miss | $264.03 mln | $270.07 mln (9 Analysts) |
Q1 EPS | $0.22 | ||
Q1 Net Income | -$2.57 mln | ||
Q1 Operating Expenses | $223.22 mln | ||
Q1 Operating Income | $40.81 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Arrowhead Pharmaceuticals Inc is $81.00, about 19% above its February 4 closing price of $68.06
Press Release: ID:nBw9ZYjda
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)