Analyst Conference Summary

biotechnology

conference date: May 7, 2026 @ 1:30 PM Pacific Time
for quarter ending: March 31, 2026 (fiscal Q2, second quarter fiscal 2026)

Forward-looking statements

Overview:

Basic data (GAAP):

Revenue was $ million, down sequentially from $264 million, up from $ million year-earlier.

Net income was $ million, down sequentially from $30.8 million, up from negative $ million year-earlier.

Diluted EPS was $ , down sequentially from $0.22, up from negative $ year-earlier.

Guidance:

Conference Highlights:

CEO Christopher Anzalone said ""

In November 2025 the FDA approved Redemplo (plozasiran) for FCS (familial chylomicronemia syndrome). This is Arrowhead's first approved medicine. Has built out the sales and marketing teams for plozasiran. Has started working with payers and providers. Feedback has been favorable. Helps to prevent pancreatitis from FCS. $60,000 annual price, dosing every 3 months. Priced for the larger severe hypertriglyceridemia market, where it is in a Phase 3 trial which should report results in 2026. Believes is best in class. In Q1 2026 Chinese National Medical Products Administration (NMPA) approved Redemplo (plozasiran) for the reduction of triglyceride levels in adult patients with familial chylomicronemia syndrome. It will be marketed in Greater China by Sanofi under an agreement between Sanofi and Arrowhead. [WM: This price is far less than the price of Tryngolza for FCS]

In Q1 2026, on October 17, licensed ARO-SNCA to Novartis, for Parkinson's Disease and other additional collaboration targets. Received $200 million upgront, potential milestones of $2 billion, plus potential royalties.

See also the Arrowhead Pharmaceuticals pipeline page.

Cash and equivalents (including investments) ended at $ million, up sequentially from $916 million. $ million cash from operations. In Q1 fiscal 2026 had raised $930 million with a combined new issuance of convertible senior notes and stock.

Operating expenses of $223 million included $ million for R&D and $ million for G&A. Leaving operating income of $ million. Other expense $ million. Tax $0 million. Non-contolling interest income $ million.

Q&A selective summary:

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