Proactive Investors - Run By Investors For Investors

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

View full ARWR profile View Profile

Arrowhead Research Timeline

Related Articles

Scientist
December 03 2018
Since September, the group's portfolio has steamed ahead with a number of new and successful clinical trials, as well as a boost from the float of one of its companies on the Nasdaq
PT exercises
December 19 2018
The Californian company is a bet on an industry that is in need of transformation
myLotus testing kit
October 31 2018
The launch at the Fertility Show in London at the start of November is the first step in a switch in focus brought about by new executive chairman Matthew Walls
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use