ARWR - Arrowhead Pharmaceuticals Inc. (ARWR) Q1 2024 Earnings Call Transcript

2024-02-06 21:28:05 ET

Arrowhead Pharmaceuticals, Inc. (ARWR)

Q1 2024 Earnings Conference Call

February 6, 2024, 04:30 PM ET

Company Participants

Vince Anzalone - VP, IR

Chris Anzalone - President & CEO

Bruce Given - Chief Medical Scientist

James Hamilton - Chief Discovery & Translational Medicine

Ken Myszkowski - CFO

Conference Call Participants

Luca Issi - RBC Capital Markets

Edward Tenthoff - Piper Sandler

Mayank Mamtani - B. Riley Securities

Jason Gerberry - Bank of America Merrill Lynch

Patrick Trucchio - H.C. Wainwright & Company

Mani Foroohar - Leerink Partners

Mike Ulz - Morgan Stanley

Ellie Merle - UBS

Maury Raycroft - Jefferies

Prakhar Agrawal - Cantor Fitzgerald

William Pickering - Bernstein

Presentation

Operator

Ladies and gentlemen, welcome to the Arrowhead Pharmaceuticals Conference Call. Throughout today's recorded presentation, all participants will be in a listen-only. After the presentation, there will be an opportunity to ask questions.

I will now hand the conference call over to Vince Anzalone, Vice President of Investor Relations for Arrowhead. Please go ahead, Vince.

Vince Anzalone

Thank you, Annie. Good afternoon, everyone and thank you for joining us today to discuss Arrowhead's results for its fiscal 2024 first quarter ended December 31, 2023.

With us today from management are President and CEO, Dr. Chris Anzalone, who will provide an overview of the quarter. We also welcome back Dr. Bruce Given, who previously served as Arrowhead's Chief Operating Officer and Head of R&D, and who has rejoined the company n an interim basis as Chief Medical Scientist. Bruce will provide an update on our cardiometabolic pipeline. Dr. James Hamilton, our Chief of Discovery & Translational Medicine will provide an update on our earlier stage programs; and Ken Myszkowski, our Chief Financial Officer will give a review of the financials. In addition, Patrick O'Brien, our Chief Operating Officer and General Counsel will be available during the Q&A portion of the call.

Before we begin, I would like to remind you that comments made during today's call contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact are forward-looking statements and are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed in any forward-looking statements. For further details concerning these risks and uncertainties, please refer to our SEC filings, including our most recent annual report on Form 10-K and our quarterly reports on Form 10-Q.

I'd now like to turn the call over to Chris Anzalone, President and CEO of the company. Chris?

Chris Anzalone

Thanks, Vince. Good afternoon, everyone, and thank you for joining us today. Arrowhead has made a name for itself as a company capable of rapid innovation and development that is building a broad-based diverse business. This is exemplified by our '20 and '25 initiatives, where we expect to grow our pipeline of RNAi Therapeutics to at least 20 clinical stage or marketed products by the year 2025.

This commitment to creating a large number of new medicines as quickly as we can, speaks to our dual mandate; to maximize number of patients, we can help and to maximize our ability to create durable value for our shareholders. These mandates can be entirely aligned during early development. We decreased biology risk by focusing on well-validated targets, and our proven delivery platforms. At this stage, the cost of discovery and early development are relatively low, particularly when considering the potential value we can create with novel medicines. ...

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