Every material Form 8-K Arrowhead Pharmaceuticals has filed with the SEC since November 26, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Arrowhead Pharmaceuticals refinanced its senior secured term loans on November 2, 2026, replacing a 15.0% payment-in-kind facility with a $400.0 million term loan at three-month Term SOFR plus 5.50% that matures November 2, 2031. The existing loans were repaid in full from cash on hand for an aggregate payoff of approximately $404.4 million, a discount of about $68 million from the 2.0x MOIC payment otherwise owed, and the new terms remove required prepayments from plozasiran sales and licensing proceeds. For shareholders, the filing shows lower interest cost, a longer maturity and fewer mandatory repayments, while the company now carries a $400.0 million secured obligation.
New $400.0 million senior secured term loan matures November 2, 2031, with interest at three-month Term SOFR (1.00% floor) plus 5.50%, versus a fixed 15.0% rate paid in kind on the retired loans
Existing loans repaid in full from cash on hand for an aggregate payoff of approximately $404.4 million, which included a discount of about $68 million from the 2.0x MOIC payment
Minimum unrestricted cash covenant reduced to $125.0 million from $150.0 million
New agreement no longer requires prepayment from plozasiran sales, royalties, milestones or pipeline monetizations; the filing says the terms are to be filed with the 10-Q for the quarter ended December 31, 2026
Arrowhead Pharmaceuticals reported fiscal third-quarter 2026 results for the period ended June 30, 2026. Revenue rose to $75.3 million from $27.8 million a year earlier, but the net loss attributable to Arrowhead widened to $194.3 million, or $1.36 per diluted share, from $175.2 million, or $1.26 per share, as research and development and selling, general and administrative expenses increased.
Revenue was $75.3 million for the quarter, compared with $27.8 million in the prior-year quarter.
Net loss attributable to Arrowhead was $194.3 million, or $1.36 per diluted share, versus $175.2 million, or $1.26 per share, a year earlier.
Research and development expense was $198.2 million, up from $162.4 million, and SG&A expense was $47.1 million, up from $30.9 million.
Total cash resources were $1.57 billion at June 30, 2026, compared with $781.5 million at September 30, 2025.
Arrowhead Pharmaceuticals appointed Dr. Matt Cohen as a director effective June 12, 2026, as disclosed in a June 16, 2026 Form 8-K. Dr. Cohen previously spent about two decades in healthcare investing and portfolio management, most recently as Managing Director at Vida Ventures, and his board seat adds a director with healthcare investment experience.
Board appointment effective June 12, 2026
Dr. Cohen is Managing Director at Vida Ventures and previously served at JP Morgan Asset Management from 2005
Sign-on grant of restricted stock units valued at $887,000, scheduled to vest over three years
Dr. Cohen will receive standard non-employee director compensation and enter the Company's standard indemnity agreement
Arrowhead Pharmaceuticals reported fiscal second-quarter results for the period ended March 31, 2026, with revenue of $73.7 million, down from $542.7 million a year earlier. The company posted a net loss attributable to Arrowhead of $132.7 million, or $0.93 per diluted share, compared with net income of $370.4 million, or $2.75 per diluted share, a year earlier. The filing also cites two concurrent public offerings with gross proceeds totaling $930 million.
Revenue was $73.7 million for the quarter, versus $542.7 million in the same period a year earlier.
Net loss attributable to Arrowhead was $132.7 million, or $0.93 per diluted share, versus net income of $370.4 million, or $2.75 per diluted share.
Two concurrent offerings raised $930 million gross, including $700 million of 0.00% convertible senior notes due 2032 and $230 million of common stock at $64.50 per share.
Research and development expense rose to $173.3 million from $133.1 million.
Arrowhead reported fiscal 2026 first-quarter results for the period ended December 31, 2025, with revenue of $264.0 million, up from $2.5 million a year earlier. The company swung to net income attributable to Arrowhead of $30.8 million, or $0.22 per diluted share, from a loss of $173.1 million, or $1.39 per share, in the prior-year quarter.
Revenue was $264.0 million for the quarter ended December 31, 2025, compared with $2.5 million for the same quarter a year earlier.
Net income attributable to Arrowhead was $30.8 million, or $0.22 per diluted share, compared with a loss of $173.1 million, or $1.39 per share.
The company closed two concurrent public offerings with gross proceeds totaling $930 million and received a $200 million upfront payment from Novartis.
Arrowhead Pharmaceuticals issued $700 million of 0.00% convertible senior notes due January 15, 2032, including $75 million from the underwriters' full exercise of their over-allotment option. The company also spent approximately $47.9 million on capped call transactions, which are expected to reduce potential dilution from future conversions of the notes.
Notes issued January 12, 2026: $700 million principal, 0.00% interest rate, maturing January 15, 2032
Initial conversion price of approximately $87.07 per share; the company may settle conversions in cash, shares or a combination
Capped call transactions cost approximately $47.9 million, with a cap price of approximately $119.33 per share
Company may redeem notes on or after January 16, 2029 if the stock exceeds 130% of the conversion price under specified conditions
On January 7, 2026, Arrowhead Pharmaceuticals agreed to sell $625 million of 0.00% convertible senior notes due 2032, upsized from $500 million, and 3,100,776 common shares at $64.50 per share. Underwriters exercised their over-allotment options in full on January 8, 2026. The filing says the offerings add shares and potential conversion shares, which could dilute existing shareholders, and that proceeds are for general corporate purposes and may partly prepay its Sixth Street credit facility.
Convertible notes: $625 million principal, 0.00% interest, maturing January 15, 2032; initial conversion price about $87.07 per share, a premium of about 35.0% to the $64.50 stock offering price.
Common stock: 3,100,776 shares at $64.50 each, plus a 456,116-share option exercised in full on January 8, 2026.
Expected net proceeds with options: about $681.3 million from the notes and $216.6 million from the stock; closings expected January 12, 2026 (notes) and January 9, 2026 (stock).
About $42.8 million of note proceeds will fund capped call transactions; the remainder is for general corporate purposes, and a portion may prepay Sixth Street Lending Partners loans.
Arrowhead reported fiscal 2025 results for the year ended September 30, 2025, with revenue of $829.4 million, up from $3.6 million a year earlier. The company's net loss attributable to Arrowhead narrowed to $1.6 million, or $0.01 per diluted share, from $599.5 million, or $5.00 per share, in fiscal 2024, driven largely by milestone payments from Sarepta Therapeutics and the Novartis licensing deal.
Revenue was $829.4 million for fiscal 2025 versus $3.6 million for fiscal 2024.
Operating income was $98.3 million versus an operating loss of $601.1 million a year earlier.
Net loss attributable to Arrowhead was $1.6 million, or $0.01 per diluted share, versus $599.5 million, or $5.00 per share.
The FDA approved REDEMPLO (plozasiran) for adults with familial chylomicronemia syndrome, and the company received a $200 million upfront payment from Novartis.
Arrowhead Pharmaceuticals entered an exclusive license and collaboration agreement with Novartis for ARO-SNCA, a preclinical RNA interference therapy for Parkinson's Disease and other synucleinopathies, plus additional collaboration targets. Arrowhead will receive a $200 million upfront payment upon closing and is eligible for up to $2 billion in milestones and tiered royalties up to the low double digits on net sales, but the deal remains subject to closing conditions including the Hart-Scott-Rodino waiting period.
Upfront payment of $200 million to Arrowhead, payable upon closing
Eligible for up to $2 billion in development, regulatory and sales milestones, plus royalties up to the low double digits
Novartis takes sole control of clinical development, manufacturing and commercialization after Arrowhead completes preclinical work
Transaction expected to close in the second half of 2025, subject to Hart-Scott-Rodino and other customary conditions
Arrowhead Pharmaceuticals reported results for the fiscal 2025 third quarter ended June 30, 2025, with revenue of $27.8 million compared with none a year earlier. The net loss attributable to the company was $175.2 million, up from $170.8 million, while the diluted loss per share narrowed to $1.26 from $1.38. The filing also described a $130 million upfront payment from Sanofi tied to a Greater China deal for a majority-owned subsidiary, and a $100 million Sarepta milestone payment.
Revenue of $27.8 million in the quarter, versus $0 in the same period a year earlier
Net loss attributable to Arrowhead of $175.2 million, versus $170.8 million a year earlier; diluted loss per share of $1.26, versus $1.38
Research and development expenses of $162.4 million and general and administrative expenses of $30.9 million
Total cash resources of $900.4 million as of June 30, 2025, and a PDUFA action date of November 18, 2025 for plozasiran
Arrowhead Pharmaceuticals reported fiscal second-quarter 2025 results for the period ended March 31, 2025, with revenue of $542.7 million versus none a year earlier and net income attributable to the company of $370.4 million, compared with a loss of $125.3 million in the prior-year quarter. The company also said it expects to be funded into 2028 following its Sarepta Therapeutics agreement, and that its CFO, Ken Myszkowski, will retire effective May 13, 2025, succeeded by Daniel Apel.
Net income attributable to Arrowhead was $370.4 million, or $2.75 per diluted share, versus a loss of $1.02 per share a year earlier.
Research and development expenses rose to $133.1 million from $101.1 million.
CFO Ken Myszkowski retires effective May 13, 2025; Daniel Apel succeeds him.
Arrowhead Pharmaceuticals said CFO Ken Myszkowski will retire effective May 13, 2025, after serving as CFO since 2009, and will stay on as an employee adviser through January 31, 2026. Daniel Apel, formerly Global Head of Financial Planning and Analysis at Walgreens Boots Alliance, will succeed him as CFO. The company describes the retirement as not the result of any disagreement.
Ken Myszkowski retires as CFO effective May 13, 2025; he has served as CFO since 2009
Daniel Apel appointed CFO; target bonus set at 45% of base salary
Apel to receive a one-time grant of 100,000 restricted stock units vesting annually over four years, plus up to $200,000 in relocation benefits
Myszkowski's transition adviser role runs until January 31, 2026, at a $200,000 annual base salary
Arrowhead Pharmaceuticals reported results for the fiscal 2025 first quarter ended December 31, 2024. Revenue was $2.5 million versus $3.551 million a year earlier, and the net loss attributable to the company widened to $173.1 million, or $1.39 per diluted share, from $132.9 million, or $1.24 per share. The company said it is funded into 2028 and cited the Sarepta licensing agreement and the plozasiran NDA acceptance as recent progress.
Revenue of $2.5 million for the quarter, compared with $3.551 million a year earlier
Net loss attributable to Arrowhead of $173.1 million, or $1.39 per diluted share, versus $132.9 million, or $1.24 per share, a year earlier
Total cash resources of $552.9 million at December 31, 2024, down from $681.0 million at September 30, 2024
Sarepta agreement provides $825 million upon closing, including $500 million in cash and a $325 million equity investment
Arrowhead appointed Douglas Ingram, President and CEO of Sarepta Therapeutics, as a director effective February 6, 2025, under an Investor Rights Agreement with Sarepta. The filing ties the appointment to the Collaboration Agreement and Stock Purchase Agreement with Sarepta, which the filing says closed on February 7, 2025, and makes Mr. Ingram not independent under Nasdaq rules.
Douglas Ingram appointed director effective February 6, 2025; appointment made under Investor Rights Agreement with Sarepta dated November 25, 2024
Sign-on grant of restricted stock units valued at $771,200, scheduled to vest over three years
Mr. Ingram is President and CEO of Sarepta; the Collaboration and Stock Purchase Agreements with Sarepta closed February 7, 2025
Filing states Mr. Ingram is not considered an independent director under Nasdaq Listing Rules
Chairman Douglass Given tendered his retirement from the Arrowhead Pharmaceuticals board, effective December 31, 2024, after serving 14 years. The company expects Sarepta Therapeutics CEO Douglas S. Ingram to join the board in the first quarter of 2025, at the closing of their license and collaboration agreement dated November 25, 2024.
Douglass Given tendered his retirement on December 11, 2024, effective December 31, 2024
Given served 14 years on the board and was serving as Chairman and a member of the Science Committee
Douglas S. Ingram, President and CEO of Sarepta Therapeutics, expected to join the board in Q1 2025, concurrent with the Sarepta agreement closing
Arrowhead Pharmaceuticals reported a fiscal 2024 net loss attributable to the company of $599.5 million, or $5.00 per diluted share, for the year ended September 30, 2024, compared with a loss of $205.3 million, or $1.92 per share, a year earlier. Revenue fell to $3.6 million from $240.7 million, while research and development expense rose to $505.9 million from $353.2 million. The company said its recent Sarepta licensing deal and Sixth Street credit facility, both announced in the filing period, extend its cash runway into 2028.
Revenue was $3.6 million in fiscal 2024 versus $240.7 million in fiscal 2023.
Diluted net loss per share was $5.00 versus $1.92 a year earlier.
Research and development expense was $505.9 million versus $353.2 million.
Sarepta agreement provides $825 million upon closing, including a $325 million equity investment; Sixth Street facility is $500 million, with $400 million funded at close.
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