ARWR - Arrowhead down 4% after hours amid big earnings miss on both top and bottom lines
Shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) are down 4% in after-hours trading amid a significant miss on EPS in its FQ1 2022 results and a huge miss on revenue. The company reported GAAP EPS in the quarter of -$0.60, a $0.20 miss. Revenue of $27.4M missed by $23.6M. Arrowhead was hampered in the quarter by major increases in operating expenses. R&D expenses increased 80% to $65.8M, while general and administrative expenses rose 184% to $85M. On the bright side, Arrowhead highlighted several pipeline advancements in the quarter. The company began a phase 3 study of RNAi therapeutic ARO-APOC3 for familial chylomicronemia syndrome. Also, the company advanced two new RNAi candidates, ARO-RAGE and ARO-MUC5AC, to treat several to treat various muco-obstructive and inflammatory pulmonary conditions. Read why Seeking Alpha contributor Edmund Ingham says things may get worse for Arrowhead this year.
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Arrowhead down 4% after hours amid big earnings miss on both top and bottom lines