Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Arrowhead Reports Fiscal 2013 First Quarter Financial Results

Abstract:
Arrowhead Research Corporation (NASDAQ: ARWR), a targeted therapeutics company, today announced financial results for its fiscal 2013 first quarter ended December 31, 2012. The company is hosting a conference call at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss results. To participate, please dial 877-317-6789 (toll free from the US), 866-605-3852 (toll free from 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.

Arrowhead Reports Fiscal 2013 First Quarter Financial Results

Pasadena, CA | Posted on February 13th, 2013

"Fiscal 2012 was a productive building year for Arrowhead as we acquired substantial RNAi assets and the world's largest human-derived peptide targeting library," said Dr. Christopher Anzalone, President and Chief Executive Officer. "We are now in a position to begin demonstrating the value of these programs in 2013. This means entering the clinic with what we believe to be a potential breakthrough hepatitis B treatment; continuing clinical studies in our obesity program; building new clinical candidates; publishing data demonstrating the power of our platforms and candidates; and entering into new collaborations and partnerships. As such, we achieved some key milestones in the first fiscal quarter and expect to achieve significant milestones throughout the year."

Fiscal 2013 First Quarter and Recent Company Highlights

Program and Pipeline Highlights

Advanced manufacturing and GLP toxicology studies of ARC-520, with regulatory filing expected in Q2 2013 to begin first-in-man studies;

Presented data at multiple scientific conferences including data on new DPC subcutaneous formulation showing 99% target gene knockdown in non-human primates without observed toxicity;

Published studies in the journal Nucleic Acid Therapeutics demonstrating high levels of knockdown in non-human primates using cholesterol-conjugated siRNA, DPCs, and a novel co-injection strategy;

Received additional patents on the DPC siRNA delivery system;

Established a Clinical Advisory Board for hepatitis B including prominent hepatologist Dr. Robert G. Gish;

Business Development Highlights

Entered into a Collaboration and License Agreement with Shire for peptide-targeted therapeutics that includes research funding for Arrowhead, up to $32.8 million in potential milestone payments, and royalties on sales;

Financial Highlights

Strengthened the balance sheet through equity financings with gross proceeds of $7.5 million.

Selected Fiscal 2013 First Quarter Financial Results

Total operating expenses for the quarter ended December 31, 2012 were $5.0 million, compared to $4.1 million during the quarter ended December 31, 2011.

Net loss attributable to Arrowhead for the quarter ended December 31, 2012 was $4.6 million, or $0.33 per share based on 14.1 million weighted average shares outstanding. This compares with a net loss attributable to Arrowhead of $2.5 million, or $0.25 per share based on 10.1 million weighted average shares outstanding, for the quarter ended December 31, 2011.

During the three months ended December 31, 2012, net cash used in operating activities was $3.8 million, compared to $2.7 million during the prior year quarter.

The company's cash position was $2.9 million at December 31, 2012, compared to $3.4 million at September 30, 2012. During the quarter, the cash decrease of $0.5 million was due to operating cash flow of $3.8 million offset by cash flow from financing activities of $3.3 million. During January an additional financing yielded net proceeds of $3.3 million.

####

About Arrowhead Research Corporation
Arrowhead Research Corporation is a clinical stage targeted therapeutics company with development programs in oncology, obesity, and chronic hepatitis B virus infection. The company is leveraging its platform technologies to design and develop peptide-drug conjugates (PDCs) that specifically home to cell types of interest while sparing off-target tissues, create targeted drugs based on the gene silencing RNA interference (RNAi) mechanism, and work with partners to create improved versions of traditional small molecule drugs.

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

Safe Harbor Statement under the Private Securities Litigation Reform Act:

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including our ability to finance our operations, the future success of our scientific studies, our ability to successfully develop drug candidates, the timing for starting and completing clinical trials, rapid technological change in our markets, and the enforcement of our intellectual property rights. Arrowhead Research Corporation's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q discuss some of the important risk factors that may affect our business, results of operations and financial condition. We assume no obligation to update or revise forward-looking statements to reflect new events or circumstances.

For more information, please click here

Contacts:
Arrowhead Research
Vince Anzalone
CFA
626-304-3400

The Trout Group, LLC
Lauren Glaser
646-378-2972

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

New nanomaterial maintains conductivity in three dimensions: International team seamlessly bonds CNTs and graphene September 5th, 2015

Multi-million pound project to use nanotechnology to improve safety September 4th, 2015

Magnetic wormhole connecting 2 regions of space created for the first time: The device could have applications in medicine, opening up ways to make MRIs more comfortable for patients September 4th, 2015

Tongfang Global and QD Vision Partner to Bring Wide Color Gamut to Global Television Lines: Color IQTM quantum dots help boost company’s focus on superior color reproduction September 3rd, 2015

Nanomedicine

Magnetic wormhole connecting 2 regions of space created for the first time: The device could have applications in medicine, opening up ways to make MRIs more comfortable for patients September 4th, 2015

Making nanowires from protein and DNA September 3rd, 2015

Reversible Writing with Light: Self-assembling nanoparticles take their cues from their surroundings September 3rd, 2015

Silk bio-ink could help advance tissue engineering with 3-D printers September 2nd, 2015

Announcements

New nanomaterial maintains conductivity in three dimensions: International team seamlessly bonds CNTs and graphene September 5th, 2015

Multi-million pound project to use nanotechnology to improve safety September 4th, 2015

Magnetic wormhole connecting 2 regions of space created for the first time: The device could have applications in medicine, opening up ways to make MRIs more comfortable for patients September 4th, 2015

Making fuel from light: Argonne research sheds light on photosynthesis and creation of solar fuel September 3rd, 2015

Financial Reports

Small but heading for the big time: Nanobiotix half year results for the six months ended 30 June 2015, in line with expectations: Major clinical achievements and corporate developments August 28th, 2015

Nanostart AG: First-half figures 2015 published and new supervisory board elected : Publication of first-half figures 2015 - Shareholders' meeting elected new supervisory board August 22nd, 2015

Industrial Nanotech, Inc. CEO Announces PCAOB Audit, Next Generation Of Current Products, New Products, New Website, New Global Outreach Program August 11th, 2015

Harris & Harris Group Reports Financial Statements as of June 30, 2015, and Announces a Stock Repurchase Program August 10th, 2015

Events/Classes

Tongfang Global and QD Vision Partner to Bring Wide Color Gamut to Global Television Lines: Color IQTM quantum dots help boost company’s focus on superior color reproduction September 3rd, 2015

STMicroelectronics Keynotes on the Next MEMS Wave at MIG Conference Asia September 2nd, 2015

JEOL Introduces New Best-in-Class Field Emission SEM September 2nd, 2015

TCL and QD Vision Demonstrate the Future of Wide Color Gamut Television at IFA: Color IQ Based Display is the First Commercially-Branded Television to Present Over 90% of ITU Rec. 2020 Color Gamut September 2nd, 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







Car Brands
Buy website traffic