Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) announced its fiscal full-year results, reporting a wider loss and a steep drop in revenue.
The biotech reported a net loss of $0.65 per share compared with $0.47 per share in the previous fiscal year, in-line with analyst expectations.
Revenue for the full year totaled $16.1 million, nearly half the $31.4 million reported a year ago, but above the $12.89 million consensus estimate.
Shares dipped nearly 6% to $12.85 in Tuesday after-hours trading.
The biotech did not break out its fourth-quarter results. Analysts were expecting a net loss of $0.12 per share on revenue of $8 million for the fourth quarter.
Arrowhead Pharmaceuticals did not respond to Proactive Investors’ request for comment.
The California-based company develops medicines to treat intractable diseases, which by definition can be difficult to treat, by targeting the disease-causing genes.
Contact Lenore Fedow at [email protected]