logo-loader
Arrowhead Research

Arrowhead Pharmaceuticals sees full-year loss widen and revenue cut in half

Revenue totaled $16.1 million compared with $31.4 million in the previous fiscal year

Lab equipment
The biotech develops medicines to treat intractable diseases by targeting the disease-causing genes

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.

READ: Arrowhead Pharmaceuticals completes enrollment of Phase 1 liver drug study; shares jump 25%

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]

Follow her on Twitter@LenoreMariee

Quick facts: Arrowhead Research

Price: $31.19

Market: NASDAQ
Market Cap: $2.97 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Arcadia Biosciences makes major progress on its hemp venture...

Arcadia Biosciences Inc (NASDAQ:RKDA) CEO Raj Ketkar tells Proactive the California-based company expects to “significantly scale revenues in 2020” as it reported financial and business results for the second quarter and first half of 2019. Ketkar says the agricultural innovation company made...

2 days, 4 hours ago

2 min read