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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

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