ARWR Stock — Arrowhead Pharmaceuticals Inc.: Cash, EV, Pipeline

What they do

The Company recently achieved a transformational milestone with its first commercial launch in 2025, when the U.S. Food and Drug Administration ("FDA") approved REDEMPLO ® (plozasiran) as an adjunct to diet to reduce triglycerides in adults with Familial Chylomicronemia Syndrome ("FCS").

Source: 10-K FY2025 via SEC EDGAR

Share price

$58.16

Market cap

$8,215.4M

Cash

$1,602.0M

Enterprise value

$6,613.4M

Balance sheet

Cash	$1,602.0M
Debt	$0.0M
Net cash	$1,602.0M
Enterprise value	$6,613.4M
Basic shares	141.1M shares
Fully diluted shares	158.3M shares
Fully diluted market cap	$9,204.8M
Cash per share	$11.35
Quarterly burn	$177.5M
Cash runway	9.0 quarters

Cash figures as of 2026-06-30. Database snapshot: 2026-11-07.

Share structure

Common

141.1M

Pre-funded warrants

2.5M

Options

0.8M

RSUs

5.8M

Warrants

0.0M

Converts

8.0M

Conv preferred

0.0M

ESPP reserve

0.0M

FDSO

158.3M

Cap table as of 2026-06-30.

Price history

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Next catalyst

ARO-DIMERPA · Nov 11 - Dec 23 in 4d · Phase 2 · Hyperlipidemia; Mixed

Recently reported

ARO-MAPT-SC Phase 1 Positive · 2026-10-14

AROMAPT-SC-1001 · alzheimer disease, alzheimer disease, early onset

Primary: Safety, tolerability, pharmacokinetics and pharmacodynamics of ARO-MAPT in healthy volunteers, with CSF total tau reduction as the reported pharmacodynamic readout — Mean CSF total tau reduction of 73% at Day 105 with 12.8 mg/kg (dosed Days 1 and 15), maximum individual reduction of 85%; 40% at 2.1 mg/kg and 69% at 6.4 mg/kg (dosed Days 1, 8 and 15)

· Day 105 is 90 days after the final dose; durability supports potential dosing once every three months or less frequently

· First successful clinical validation of siRNA delivery across the blood-brain barrier after subcutaneous injection (TRiM platform)

· Biomarker results are from healthy volunteers only; effects on tau tangles, cognition and disease progression not yet shown

· Early Alzheimer's disease cohorts enrolling in Part 2; further data updates expected in 2027

· Regulatory discussions initiated for planned studies in MAPT-related frontotemporal dementia and progressive supranuclear palsy

Safety: Generally well tolerated; most TEAEs Grade 1 or mild, no serious TEAEs, deaths, or TEAEs leading to discontinuation; most common TEAEs were injection-site reactions, vessel puncture-site bruising, upper respiratory tract infection, back pain and headache

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Nov 11 - Dec 23 in 4d	ARO-DIMERPA	Phase 2	Hyperlipidemia; Mixed	—
GUIDEDDec 1-31 in 24d	plozasiran sHTG sNDA (SHASTA-3, SHASTA-4, MUIR-3)	Not disclosed	sHTG (SHASTA-3, SHASTA-4, MUIR-3)	before end of 2026
Jan 12 - Feb 23 in 9 wks	ARO-ATXN2 Injection	Phase 1	Spinocerebellar Ataxia Type 2	—
Mar 15 - Apr 26 in 4 mo	ARO-ALK7	Phase 2	Obesity; Diabetes Mellitus, Type 2	—
GUIDEDEst. Jul 16, 2027 in 7 mo guidance midpoint	zodasiran YOSEMITE Phase 3 in HoFH · NCT07037771	Phase 3	HoFH	mid-2027
Oct 1 - Nov 12 in 11 mo	zodasiran Injection	Phase 3	Homozygous Familial Hypercholesterolemia	—
Oct 29 - Dec 10 in 12 mo	ARO-INHBE	Phase 2	Obesity	—
Jan 12 - Feb 23 in 14 mo	ARO-RAGE	Phase 2	Asthma	—
Aug 12 - Sep 23 in 21 mo	Plozasiran Injection	Phase 3	Hypertriglyceridemia	—
Aug 12 - Sep 23 in 21 mo	Zodasiran	Phase 3	Homozygous Familial Hypercholesterolemia	—
Aug 12 - Sep 23 in 21 mo	ARO-033	Phase 1	Age-related Macular Degeneration	—
Apr 12 - May 24 in 30 mo	Plozasiran	Phase 3	Severe Hypertriglyceridemia	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

REDEMPLO

Approved · Active Modality: siRNA

Aliases plozasiran

Target APOC3

Partnerships Sanofi (Genzyme): acquired Visirna HK assets (Aug 1, 2025) incl. Greater China rights; $130M upfront + $10M milestone on NMPA approval (Q2 FY2026); royalties on Greater China sales; supply purchase option

Indications

Reduction of triglycerides (NMPA-approved, China) (Approved)
Severe hypertriglyceridemia (sHTG) (Stage not disclosed)

Status note NMPA approval in China triggered a $10M milestone in Q2 FY2026.

Daplusiran/tomligisiran

Phase 2 · Active Modality: subcutaneously administered RNAi

Aliases GSK5637608, JNJ-3989

Target HBV

Partnerships GSK: worldwide exclusive license (GSK-HBV Agreement, Dec 11, 2023); $2.7M on signing; $2.5M milestone on dosing of fifth patient in Phase 2 (Dec 2024)

Indications

Chronic hepatitis B virus infection (Phase 2)

Status note Third-generation subcutaneously administered RNAi therapeutic.

Olpasiran

Stage not disclosed · Active Modality: siRNA

Aliases ARO-LPA

Target lipoprotein(a)

Partnerships Amgen: wholly responsible for clinical development and commercialization (Olpasiran Agreement, Sep 2016); Royalty Pharma: owns Amgen royalties; Arrowhead eligible for up to $485M in remaining milestones

Status note siRNA originally developed by Arrowhead, licensed to Amgen.

ARO-DM1

Stage not disclosed · Active Modality: RNAi

Target DMPK

Status note Second of two $200M development milestone payments earned Nov 2025 (received Jan 2026); first $50M annual fee installment earned and received Feb 2026.

ARO-PNPLA3

Stage not disclosed · Active

Target PNPLA3

Partnerships Madrigal: exclusive global license to develop, manufacture and commercialize (Madrigal License Agreement, May 4, 2026); $25M upfront (Jun 2, 2026), up to $975M milestones

Status note Clinical-stage program.

ARO-SNCA

Preclinical · Active

Target alpha-synuclein

Partnerships Novartis: exclusive worldwide license for ARO-SNCA preclinical program (Novartis Collaboration Agreement, Aug 29, 2025); Arrowhead performs certain R&D

Indications

Rare genetic diseases of the CNS (Preclinical)

Status note Part of Novartis collaboration covering multiple preclinical programs in rare genetic CNS diseases.

Sarepta collaboration programs

Stage not disclosed · Active

Partnerships Sarepta: Exclusive License and Collaboration Agreement (Nov 25, 2024) for multiple clinical and preclinical programs in rare genetic diseases of muscle, CNS and other tissues

Status note Individual program names not disclosed in excerpts.

Per-asset detail extracted from the 10-Q filed 2026-08-04. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	zodasiran Injection
Lead indication	Homozygous Familial Hypercholesterolemia
Lead phase	Phase 3
Active trials	15
Collaborator trials	3

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07037771	Phase 3	Active, not recruiting	Sponsor	ARWR	—	Homozygous Familial Hypercholesterolemia	mid-2027 Est. Aug 31, 2027 · PCD + 6 wks (Aug 31-Aug 31)
NCT06822790	Phase 3	Recruiting	Sponsor	ARWR	—	Hypertriglyceridemia	—
NCT07473843	Phase 3	Not yet recruiting	Sponsor	ARWR	—	Homozygous Familial Hypercholesterolemia	—
NCT06880770	Phase 3	Recruiting	Sponsor	ARWR	—	Severe Hypertriglyceridemia	—
NCT06347133	Phase 3	Active, not recruiting	Sponsor	ARWR	—	Hypertriglyceridemia	—
NCT06347003	Phase 3	Active, not recruiting	Sponsor	ARWR	—	Severe Hypertriglyceridemia	—
NCT06347016	Phase 3	Active, not recruiting	Sponsor	ARWR	—	Severe Hypertriglyceridemia	—
NCT07223658	Phase 2	Recruiting	Sponsor	ARWR	—	Hyperlipidemia; Mixed	—
NCT06937203	Phase 2	Recruiting	Sponsor	ARWR	—	Obesity; Diabetes Mellitus, Type 2	—
NCT07221344	Phase 2	Recruiting	Sponsor	ARWR	—	Alzheimer Disease; Alzheimer Disease, Early Onset	—
NCT06700538	Phase 2	Recruiting	Sponsor	ARWR	—	Obesity	—
NCT07241546	Phase 2	Recruiting	Sponsor	ARWR	—	Asthma	—

Sponsor-matched active trials from ClinicalTrials.gov (15 as sponsor, 3 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 18 active trials for Arrowhead Pharmaceuticals on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Deerfield Management	201,389,055	-184,242	3.69%	2026-08-14
Avoro Capital Advisors	11,355,555	+655,556	8.31%	2026-08-14
Baker Bros. Advisors	1,992,783	no change	0.81%	2026-08-14
ADAR1 Capital Management	79,800	-500	0.32%	2026-08-14
Cormorant Asset Management	50,000	-50,000	0.21%	2026-08-14
Ikarian Capital	38,278	+38,278	0.51%	2026-08-14
RTW Investments	0	-585,682	0.00%	2026-08-14
Braidwell LP	0	-2,250,000	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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ARWR — Arrowhead Pharmaceuticals Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

ARWR — Arrowhead Pharmaceuticals Inc.