Arrowhead shifts fiscal year-end to December after $724.2 million loss
Arrowhead reported a fiscal 2026 net loss attributable to the company of $724.2 million, or $5.11 per diluted share, on revenue of $450.8 million. The board also approved moving the fiscal year end to December 31.
Key takeaways
- Arrowhead Pharmaceuticals (ARWR) reported a fiscal 2026 net loss attributable to the company of $724.2 million, or $5.11 per diluted share, on revenue of $450.8 million for the year ended Sept. 30, 2026. The board also approved changing the fiscal year end to December 31, effective Jan. 1, 2027.
Arrowhead Pharmaceuticals (ARWR) posted a fiscal 2026 net loss of $724.2 million.
Shares were little changed after hours at 5:00 p.m. ET, from a $47.15 close.
Here's how the company did:
- Revenue: $450.8 million vs. $829.4 million a year earlier
- Net loss per diluted share: $5.11 vs. $0.01 a year earlier
- Operating loss: $707.2 million vs. operating income of $98.3 million a year earlier
R&D expenses were $739.1 million, up from $607.2 million. SG&A was $202.0 million, up from $123.9 million. The company also recorded a $215.0 million operating expense for an acquired priority review voucher.
Total cash resources, including cash, restricted cash and available-for-sale securities, were $1.19 billion at year end, up from $919.4 million at Sept. 30, 2025.
Commercial and regulatory progress
New-to-brand REDEMPLO prescriptions grew 63% quarter over quarter, reaching 950 cumulative at quarter end, with another 300 received since.
Arrowhead submitted a supplemental new drug application to the FDA for plozasiran in severe hypertriglyceridemia. The FDA accepted it into its Split Real Time Application Review pilot, which could shorten review to a 6-month priority review instead of a 10-month standard review.
A potential U.S. launch is expected in the second quarter of 2027, pending successful review and approval. Arrowhead retains the priority review voucher it previously purchased.
Refinancing with Sixth Street
Arrowhead refinanced its Sixth Street credit facility with a new $400 million senior secured term loan at SOFR plus 5.50%, compared with an annual rate of 15% on the retired facility. The company negotiated a $68 million discount on the contractual prepayment amount. The new facility matures in November 2031 and removes required prepayments or sweeps tied to upfront payments, milestones, royalties and commercial revenue.
Fiscal year change
The board approved on Nov. 9, 2026 a change in fiscal year end from Sept. 30 to Dec. 31, effective Jan. 1, 2027. Arrowhead expects to file a transition report covering the three months from Oct. 1, 2026 through Dec. 31, 2026.