RHHBF - Arrowhead Pharmaceuticals Dives On Safety Issues For ARO-ENaC But Remains On Track In Other Indications
- Arrowhead's stock dropped 25% on preliminary update from ongoing chronic toxicology study in rats causing voluntary pause. However, further safety data released later on could possibly reverse this.
- While safety issue noted with ARO-ENaC for Cystic Fibrosis, there's another clinical candidate targeting a large multi-billion dollar market like JNJ-3989 for the treatment of patients with Hepatitis B.
- Positive results were reported for ARO-AAT recently, which is being used to treat patients with alpha-1 antitrypsin deficiency.
- Arrowhead has enough cash on hand to fund its operations for at least the next 12 months, but has the option to tap into an ATM to sell from time to time up to $250 million worth of shares.
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Arrowhead Pharmaceuticals Dives On Safety Issues For ARO-ENaC, But Remains On Track In Other Indications