Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR)
Arrowhead Pharmaceuticals Inc.(NASDAQ:ARWR) was a big mover in Thursday’s trading session after the company said its net loss for the first three months of the year narrowed to $6.04 million or $0.08 a share. Last year same period, the company reported a net loss of $20.82 million or $0.35.
Arrowhead Financial Results
Revenue for the first three months of the year came in at $8.9 million compared to $43,750 for the same period last year. For the first six months ended March 31, Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR) says its net loss stood at $21 million compared to $40.6 million for the same period last year. Net loss for the first six months ended March 31, 2017, on the other hand, stood at $21 million compared to $40 million as of last year.
Fuelling investor interest in the stock is growing confidence over the company’s ongoing clinical trials. During the quarter the company made a presentation to the EASL International Liver congress for its candidate drugs ARC-520 ARC-521 and ARC-AAT after positive clinical trial results.
Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR) says its novel treatment for Hepatitis B, ARC-520, in combination with Entecavir, was able to significantly reduce HBsAg antigen with a maximum reduction of 2.2 logs.
“ARC-521 appeared active against HBV gene products derived from both cccDNA and integrated HBV DNA. ARC-AAT treatment led to deep, durable and dose-dependent reductions of serum AAT with similar levels of knockdown observed in healthy volunteers and patient, “Arrowhead in a statement
The company is currently continuing with trials on ARO-HBV, ARO-AAT, ARO-F12, and ARO-HIF2 against undisclosed targets.
Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR) also made key advancements in the development of its proprietary, subcutaneously-administered, liver-targeted delivery vehicle during the quarter. Works on an extra-hepatic delivery platform are ongoing.
Stockholders Rights Agreement
Separately Arrowhead pharmaceuticals have entered into a stockholder’s right agreement. In accordance with a declaration by the boards of directors. The agreement seeks to ensure that all of the company’s shareholders enjoy fair and equal treatment in case of a takeover.
However, the company insists the new rights plan did not come into play in response to a specific takeover. The new rights are also exercisable for a person acquiring 15% or more of the company’s stock.
Arrowhead stock was up by 13.46% in Thursday’s trading session – closing at highs of $1.77 a share.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.