Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR)
Shares of Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) skyrocketed more than 18% after the company announced a new drug development platform alongside a slew of drug candidates. Arrowhead is a clinical-stage pharmaceutical company. The company previously called itself Arrowhead Research Corporation.
The shares rose settled at $3.30 after hitting a high of $3.43 and a low of $2.75. The gain pushed Arrowhead’s market cap to $246.8 million. Over the past year, the stock has rallied between a high of $8.09 and a low of $1.20.
Arrowhead unveils TRiM platform
Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) announced on Thursday that it had developed what it suggested to be a more robust drug development platform. The new drug development platform is called Targeted RNAi Molecule, or simply TRiM platform.
The TRiM platform could be a game-changer for Arrowhead in its drug development efforts. According to the company, TRiM platform brings with it simplified manufacturing processes. As such, TRiM platform is also billed as a lower-cost drug development platform.
Additionally, TRiM platform supports faster development time, multiple drug-delivery options and the potential to diversify drug development. Furthermore, the TRiM platform promises wide safety margins in the drug development process.
Arrowhead introduces several drug candidates
Alongside unveiling TRiM platform, Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) announced several drug candidates it had developed using the new platform. The candidates include ARO-HBV, which is being developed as treatment for chronic hepatitis B infection; ARO-AAT, which is being developed to tackle alpha-1 antitrypsin deficiency liver disease; and then ARO-APOC3 and ARO-ANG3, both targeting hypertriglyceridemia.
With TRiM platform, Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) seems to have moved several steps closer to its goal of bringing a new drug product to market. Arrowhead CEO Chris Anzalone noted that the TRiM platform will open up opportunities to target diseases beyond what was possible with RNAi therapeutics.
Inside the financials
Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) reported revenue of $9.3 million for its fiscal Q32017 and had cash and short-term investments amounting to $75.1 million at the end of the quarter. The company’s operating expenses were $15.1 million in the last quarter, down from $19.4 million in a similar quarter last year.
Research and development (R&D) is one of the largest pieces of Arrowhead’s expenses. R&D spending in the latest quarter was $6.91 million, down slightly from $6.98 million a year earlier.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.