ARWR - Arrowhead Pharmaceuticals: Focus Turns To Upcoming Pipeline Inflection Point

2024-05-17 10:44:05 ET

Summary

• The latest period was a rollercoaster ride for Arrowhead Pharmaceuticals despite significant fundamental developments.
• Phase 3 results of plozasiran in FCS patients should lead to Arrowhead finally becoming a commercial-stage company in 2025.
• The bar for plozasiran is set by Ionis' olezarsen in terms of APOC3 and triglyceride reductions as well as the reduction in the risk of acute pancreatitis.
• Plozasiran in FCS represents a small but important step for Arrowhead's cardiometabolic pipeline which is set to expand later this year with the addition of two new clinical candidates.
• ARWR needs to do a better job managing expectations or executing on its promised timelines.

Arrowhead Pharmaceuticals Overview

The latest period was a rollercoaster ride for Arrowhead Pharmaceuticals, Inc. ( ARWR ). I argued in late 2023 that the company needed to address the financing overhang, and it did just that in early January by completing a sizable follow-on offering, but shortly after the offering, it also announced a pipeline prioritization. This may have been disappointing for some investors, but I believe it was the right decision to deprioritize some non-core assets and try to partner them....

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