Nanotechnology Now







Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Arrowhead Reports Fiscal 2012 Second Quarter Financial Results

Abstract:
Arrowhead Research Corporation (NASDAQ: ARWR), a nanomedicine company with development programs in RNA therapeutics and obesity, today announced financial results for its fiscal 2012 second quarter ended March 31, 2012.

Arrowhead Reports Fiscal 2012 Second Quarter Financial Results

Pasadena, CA | Posted on May 8th, 2012

Fiscal 2012 Second Quarter and Recent Company Highlights

Acquired Alvos Therapeutics, Inc. (formerly known as Mercator Therapeutics, Inc.), a pioneer in targeting for tumors and tumor vasculature in humans, including a large proprietary library of human-derived targeting peptides;
Received FDA clearance to initiate an Adipotide Phase I clinical trial;
Executed a collaboration and joint licensing agreement with Alnylam, a leading RNAi therapeutics company, for Arrowhead's Dynamic Polyconjugate (DPC) enabled RNAi therapeutic candidate targeting hepatitis B virus (HBV), and allowing Alnylam to use DPC delivery technology for one RNAi therapeutic product; and
Entered into a strategic alliance and master services agreement for RNAi therapeutics with Axolabs GmbH, a custom research organization offering preclinical solutions and consultancy in the field of oligonucleotide therapeutics.

"Recent acquisitions of Roche's siRNA business and Alvos Therapeutics, Inc., coupled with our own assets, have given Arrowhead a platform from which we can rapidly generate and optimize therapeutic candidates," said Dr. Christopher Anzalone, President and Chief Executive Officer. "Our ability and experience in combining the right targeting agent with the right delivery vehicle and the right payload is unique in the industry and is generating increasing collaboration interest from potential partners. During the second quarter, we continued to enroll patients in our Phase 1b trial for CALAA-01 and we expect to wrap up this trial during the summer. Additionally, we received clearance to commence a Phase I trial for Adipotide, our anti-obesity candidate, and anticipate dosing the first patient shortly."



Selected Financial Results



For the quarter ended March 31, 2012, Arrowhead reported revenues of $31,250. There was no revenue in the comparable prior period. Total operating expenses for the quarter ended March 31, 2012 were $4.9 million, compared to $1.8 million during the quarter ended March 31, 2011.



Net loss attributable to Arrowhead for the quarter ended March 31, 2012 was $5.3 million, or $0.50 per share based on 10,663,869 weighted average shares outstanding. This compares with a net loss attributable to Arrowhead of $2.9 million, or $0.37 per share based on 7,891,395 weighted average shares outstanding, for the quarter ended March 31, 2011.


The Company's net cash used in operations for the first half of fiscal 2012 was $6.9 million, compared with $5.0 million for the first half of fiscal 2011. Cash provided by investing activities was $0.3 million, primarily due to cash received from the sale of investments. Cash provided by financing activities was $2.6 million, primarily due to the issuance of Arrowhead common stock. As of March 31, 2012, Arrowhead had cash resources of $6.3 million; which includes cash and cash equivalents of $3.6 million and $2.7 million in subscriptions receivable from previous financings.


Upcoming Conference Presentations

European Foundation for Clinical Nanomedicine (CLINAM)
May 7 - 9 in Basel, Switzerland
TIDES: Oligonucleotide & PeptideŽ Research, Technology & Product Development May 20 - 23 in Las Vegas, NV
RNA Society Annual Meeting May 29 - June 1 in Ann Arbor, MI
RNAi Research & Therapeutics Conference May 30 - 31 in Boston, MA
RNAi & Nanotechnology Conference June11 - 12 in London, UK
International Congress on Infectious Diseases June 15 in Bangkok, Thailand

Conference Call



Management will host a conference call today, Tuesday, May 8, 2012 at 4:30 p.m. Eastern time (1:30 p.m. Pacific time). To participate in the conference call, please dial 877-317-6789 (toll free from the US and Canada), or 412-317-6789 (for international callers). Investors may also access a live audio webcast of this conference call on the Company's website at www.arrowheadresearch.com.


A replay of the webcast will be available approximately two hours after the conclusion of the call. The webcast archive will remain available until Saturday, February 9, 2013. An audio replay will also be available approximately one hour after the conclusion of the call and will be made available until Wednesday, May 16, 2012. The audio replay can be accessed by dialing 877-344-7529 (toll free from the US and Canada), or 412-317-0088 (for international callers) and entering Event ID 10013625.

####

About Arrowhead Research Corporation
Arrowhead Research Corporation is a clinical stage nanomedicine company developing innovative therapies at the interface of biology and nanoengineering. Arrowhead's world-class capabilities and intellectual property covering nucleic acid delivery, siRNA chemistry, and tissue targeting allow it to design and develop therapeutic agents for a wide range of diseases. The company's lead products include CALAA-01, an oncology drug candidate based on the gene silencing RNA interference (RNAi) mechanism, and AdipotideTM, an anti-obesity peptide that targets and kills the blood vessels that feed white adipose tissue. Arrowhead is leveraging its proprietary Dynamic PolyConjugateTM (DPC), Liposomal Nanoparticle (LNP), and RONDELTM delivery platforms to support its own pipeline of preclinical and clinical candidates and to secure external partnerships and collaborations with biotech and pharmaceutical companies.

For more information please visit www.arrowheadresearch.com, or follow us on Twitter @ArrowRes. To be added to the Company's email list to receive news directly, please send an email to

For more information, please click here

Contacts:
Investor Relations Contact:
Michael Levitan
The Trout Group, LLC
646-378-2920

Copyright © Arrowhead Research Corporation

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

SEFCU, SUNY Poly CNSE Announce Winning Student-Led Teams in the 6th Annual $500,000 New York Business Plan Competition April 25th, 2015

Northwestern scientists develop first liquid nanolaser: Technology could lead to new way of doing 'lab on a chip' medical diagnostics April 25th, 2015

Nanotech-enabled moisturizer speeds healing of diabetic skin wounds: Spherical nucleic acids silence gene that interferes with wound healing April 24th, 2015

Fast and accurate 3-D imaging technique to track optically trapped particles April 24th, 2015

Nanomedicine

Northwestern scientists develop first liquid nanolaser: Technology could lead to new way of doing 'lab on a chip' medical diagnostics April 25th, 2015

Nanotech-enabled moisturizer speeds healing of diabetic skin wounds: Spherical nucleic acids silence gene that interferes with wound healing April 24th, 2015

Fast and accurate 3-D imaging technique to track optically trapped particles April 24th, 2015

A silver lining: UCSB researchers cradle silver nanoclusters inside synthetic DNA to create a programmed, tunable fluorescent array April 23rd, 2015

Announcements

SEFCU, SUNY Poly CNSE Announce Winning Student-Led Teams in the 6th Annual $500,000 New York Business Plan Competition April 25th, 2015

Northwestern scientists develop first liquid nanolaser: Technology could lead to new way of doing 'lab on a chip' medical diagnostics April 25th, 2015

Nanotech-enabled moisturizer speeds healing of diabetic skin wounds: Spherical nucleic acids silence gene that interferes with wound healing April 24th, 2015

Fast and accurate 3-D imaging technique to track optically trapped particles April 24th, 2015

Financial Reports

Harris & Harris Group Reports Financial Statements as of December 31, 2014 and Posts Annual Letter to Shareholders on Website March 17th, 2015

Aspen Aerogels, Inc. Schedules Fourth Quarter and Fiscal 2014 Earnings Release and Conference Call for February 26, 2015 February 11th, 2015

Arrowhead to Report Fiscal 2015 First Quarter Financial Results February 2nd, 2015

Graphenea sales more than double in 2014 January 29th, 2015

Events/Classes

SEFCU, SUNY Poly CNSE Announce Winning Student-Led Teams in the 6th Annual $500,000 New York Business Plan Competition April 25th, 2015

Richards-Kortum elected to American Academy of Arts and Sciences: April 22nd, 2015

Harris & Harris Group Sponsors NYC American Heart Association's Health Sciences Innovation Investment Forum: Co-founder of Harris & Harris Group Portfolio Company TARA Biosystems to Speak About the Value of Tissue Engineering Technology April 21st, 2015

SouthWest NanoTechnologies CEO Dave Arthur to Speak at NanoBCA DC Roundtable on May 19 in Washington DC April 20th, 2015

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More










ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project