Page 1

arrowhead pharmaceuticals Arrowhead Pharmaceuticals Reports Fiscal 2021 First Quarter Results February 4 , 2021 Conference Call and Webcast Today , February 4 at 4:30 p.m. EST PASADENA , Calif .-- ( BUSINESS WIRE ) -- Feb . 4 , 2021-- Arrowhead Pharmaceuticals , Inc. ( NASDAQ : ARWR ) today announced financial results for its fiscal first quarter ended December 31 , 2020. The company is hosting a conference call at 4:30 p.m. EST to discuss results . Conference Call and Webcast Details Investors may access a live audio webcast on the Company's website at http://ir.arrowheadpharma.com/events.cfm . For analysts that wish to participate in the conference call , please dial 855-215-6159 or 315-625-6887 and provide Conference ID 1307499 . A replay of the webcast will be available on the company's website approximately two hours after the conclusion of the call and will remain available for 90 days . An audio replay will also be available approximately two hours after the conclusion of the call and will be available for 3 days . To access the audio replay , dial 855-859-2056 or 404-537-3406 and provide Conference ID 1307499 . Selected Recent Events • Submitted an Investigational New Drug Application ( IND ) to the U.S. Food and Drug Administration for a Phase 2b dose - finding clinical study of ARO - ANG3 , the company's investigational RNAi therapeutic being developed as a treatment for patients with mixed dyslipidemia • Presented new clinical data from Phase 1/2 studies of both wholly owned cardiometabolic candidates , ARO - APOC3 and ARO - ANG3 , at the American Heart Association meetings and subsequently hosted key opinion leader webinars to discuss the data and plans for future development of the product candidates • Closed an agreement with Takeda to co - develop and co - commercialize ARO - AAT , which includes $ 300 million upfront , $ 740 million in potential milestone payments , a 50/50 profit sharing agreement in the U.S. , and 20-25 % royalty on net sales outside the U.S. • Presented new clinical data at The Liver Meeting Digital Experience , the Annual Meeting of the American Association for the Study of Liver Disease ( AASLD ) on ARO - AAT , Arrowhead's candidate against liver disease associated with alpha - 1 antitrypsin deficiency , showing that ARO - AAT strongly reduced the production of mutant Z - AAT protein and led to improvements in multiple biomarkers of alpha - 1 liver disease Selected Fiscal 2021 First Quarter Financial Results ARROWHEAD PHARMACEUTICALS , INC . CONSOLIDATED CONDENSED FINANCIAL INFORMATION ( unaudited ) ( in thousands , except per share amounts ) OPERATING SUMMARY REVENUE Three months ended December 31 , 2020 2019 $ 21,303 $ 29,455 OPERATING EXPENSES Research and development 36,555 23,374 General and administrative expenses 8,802 10,934 TOTAL OPERATING EXPENSES 45,357 34,308 OPERATING INCOME ( LOSS ) ( 24,054 ) ( 4,853 OTHER INCOME / ( EXPENSE ) 3,322 2,180