Arrowhead Pharmaceuticals (ARWR) Q3 2026 earnings summary

Executive summary

• SHASTA-3 and SHASTA-4 phase III studies showed median triglyceride reductions of 79% and 81% at 12 months for plozasiran, with a favorable safety profile and significant reduction in acute pancreatitis events.

• REDEMPLO prescription volume more than doubled quarter-over-quarter, with over 400 unique practitioners prescribing and expanding approvals in the U.S., EU, China, Australia, and Canada.

• Acquisition of a priority review voucher to accelerate sNDA review for plozasiran in SHTG, aiming for U.S. submission by year-end 2026.

• Commercial infrastructure and field force are scaling to support broader launches, focusing initially on high-risk SHTG patients and targeting over 20,000 HCPs.

• Advanced pipeline progress includes YOSEMITE Phase 3 trial enrollment completion and positive interim data for ARO-INHBE in obesity and MASH.

Financial highlights

• Revenue for the quarter ended June 30, 2026, was $75.3 million, up from $27.8 million year-over-year, driven by license agreements and REDEMPLO sales.

• Net loss for the quarter was $194.3 million ($1.36 per share), compared to $175.2 million ($1.26 per share) in the prior year.

• Operating loss for the quarter was $170.1 million, reflecting increased R&D and SG&A expenses.

• Cash, cash equivalents, and investments totaled $1.6 billion as of June 30, 2026, including $1.55 billion in available-for-sale securities.

• Commercial revenue from REDEMPLO was approximately $2.4 million, more than double the prior quarter.

Outlook and guidance

• sNDA for plozasiran in SHTG planned for submission before year-end 2026, with potential U.S. launch accelerated by four months using the priority review voucher.

• Anticipates YOSEMITE Phase 3 study completion for zodasiran in mid-2027 and regulatory filings for plozasiran in additional indications.

• Commercial field force expansion to address over 20,000 HCP targets in preparation for SHTG launch.

• Sufficient liquidity is expected to fund operations for at least the next twelve months.

• Continued focus on payer coverage and market access for both FCS and SHTG indications.