ARWR - Arrowhead Pharmaceuticals' fiscal 2023 Q1 revenue surge helped by milestone payments

• Arrowhead Pharmaceuticals' ( NASDAQ: ARWR ) 128% year-over-year increase in revenue in fiscal 2023 Q1 is due in part to  milestone payments from Amgen ( AMGN ) and Horizon Therapeutics ( HZNP ).
• The company recorded ~$62.6M in revenue in the quarter.
• In October 2022, Arrowhead ( ARWR ) received $25M from Amgen after the first patient was enrolled in a late stage trial of the candidate cardiovascular disease. In December, the company received a $15M milestone from Horizon ( HZNP ) after the first subject was enrolled in a phase 1 study of HZN-457 for gout.
• Arrowhead ( ARWR ) ended the quarter (Dec. 31, 2022) with cash and cash equivalents of $202.2M compared to ~$108M on Sept. 30, 2022. In November, the company its royalty interest in olpasiran to Royalty Pharma for $250M upfront.
• Arrowhead ( ARWR ) closed down ~9% Monday due to a bearish note from Cantor Fitzgerald .

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