ARWR - Arrowhead Pharmaceuticals Inc. (ARWR) Q2 2024 Earnings Call Transcript

2024-05-09 21:23:07 ET

Arrowhead Pharmaceuticals, Inc. (ARWR)

Q2 2024 Earnings Conference Call

May 09, 2024, 04:30 PM ET

Company Participants

Vince Anzalone - VP, IR

Chris Anzalone - President and CEO

Bruce Given - Chief Medical Scientist

James Hamilton - Chief Discovery & Translational Medicine

Ken Myszkowski - CFO

Conference Call Participants

Luca Issi - RBC Capital

Edward Tenthoff - Piper Sandler

Maury Raycroft - Jefferies

Brendan Smith - TD Cowen

William Pickering - Bernstein

Patrick Trucchio - H.C. Wainwright & Company

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. [Operator Instructions]

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. Good afternoon, everyone and thank you for joining us today to discuss Arrowhead's results for its fiscal 2024 second quarter ended March 31, 2024.

With us today from management are President and CEO, Dr. Chris Anzalone, who will provide an overview of the quarter. Dr. Bruce Given, our Interim Chief Medical Scientist who 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.

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.

As we discussed in our last conference call, Arrowhead has reached a point where our business requires a greater degree of focus. We are in the process of building out our expertise within the cardiometabolic space and focusing more of our spend in that area. These are wholly appropriate actions because our cardiometabolic programs represent a substantial amount of potential near, mid, and long-term value. We need to ensure that they are properly resourced, both from a financial and human capital standpoint, and that they are at the center of investor analysis of our business.

This is a good thing for Arrowhead. We have two late-stage drug candidates with data across diverse populations, from ultra-rare to highly prevalent, spanning over 1,000 human subjects. We see a train of potential value creation with plozasiran and zodasiran and expect to file NDAs or supplements to expand those labels almost every year over the next five to six years....

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