Arrowhead Pharmaceuticals reported fiscal 2025 results, posting a net loss of $1.63 million versus a $599.49 million loss in 2024, while revenue surged to $829.4 million from $3.55 million the prior year. The dramatic revenue jump reflects the first commercial launch of its RNAi therapy REDEMPLO (plozasiran) for familial chylomicronemia syndrome and robust licensing income from existing collaborations.
REDEMPLO’s FDA approval on November 19 and its commercial rollout drove the bulk of the revenue increase. Licensing agreements with Sarepta Therapeutics and Novartis contributed an additional $200 million in upfront payments, while ongoing milestone payments from these partners added to the top line. The company’s pipeline continues to generate non‑dilutive cash through these collaborations, offsetting the high cost of late‑stage development.
Operating expenses rose to $731 million, up from $605 million in 2024, largely due to intensified research and development spending on late‑stage clinical programs and expanded commercial infrastructure. Despite the higher burn, Arrowhead’s cash, cash equivalents, and restricted cash totaled $88.706 million at year‑end, bolstered by a $500 million credit facility from Sixth Street and a $500 million upfront payment from the Sarepta partnership. The liquidity position supports a projected cash runway extending into 2028.
Management highlighted the company’s shift from a development‑stage to a commercial‑stage entity, emphasizing the importance of REDEMPLO as a revenue engine and the strategic value of its partnership portfolio. The earnings release signals a clearer path to profitability and a stronger financial foundation, positioning Arrowhead to scale its RNAi platform and pursue additional commercial opportunities.
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