Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

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 Product Nanoparticle preparation from Intertronics with new Thinky NP-100 Nano Pulveriser April 26th, 2017

California Research Alliance by BASF establishes more than 25 research projects in three years April 26th, 2017

Affordable STM32 Cloud-Connectable Kit from STMicroelectronics Puts More Features On-Board for Fast and Flexible IoT-Device Development April 26th, 2017

Geoffrey Beach: Drawn to explore magnetism: Materials researcher is working on the magnetic memory of the future April 25th, 2017

Nanomedicine

New Product Nanoparticle preparation from Intertronics with new Thinky NP-100 Nano Pulveriser April 26th, 2017

Nanoparticle vaccine shows potential as immunotherapy to fight multiple cancer types April 24th, 2017

Arrowhead Presents ARC-520 and ARC-521 Clinical Data at The International Liver Congress(TM) April 20th, 2017

Nano-SPEARs gently measure electrical signals in small animals: Rice University's tiny needles simplify data gathering to probe diseases, test drugs April 17th, 2017

Announcements

New Product Nanoparticle preparation from Intertronics with new Thinky NP-100 Nano Pulveriser April 26th, 2017

California Research Alliance by BASF establishes more than 25 research projects in three years April 26th, 2017

Affordable STM32 Cloud-Connectable Kit from STMicroelectronics Puts More Features On-Board for Fast and Flexible IoT-Device Development April 26th, 2017

Geoffrey Beach: Drawn to explore magnetism: Materials researcher is working on the magnetic memory of the future April 25th, 2017

Financial Reports

Nanometrics to Announce First Quarter Financial Results on May 2, 2017 April 11th, 2017

Harris & Harris Group Issues Its Financial Statements as of December 31, 2016, Posts Its Annual Shareholder Letter, And Will Host a Conference Call for Shareholders on Friday, March 17, 2017 March 15th, 2017

Arrowhead Pharmaceuticals to Webcast Fiscal 2017 First Quarter Results January 31st, 2017

Nanometrics to Announce Fourth Quarter and Full Year Financial Results on February 7, 2017 January 19th, 2017

Events/Classes

National Conference on Nanomaterials, (NCN-2017) April 21st, 2017

Nanomechanics, Inc. Unveils New Product at ICMCTF Show April 25th: Nanoindentation experts will launch the new Gemini that measures the interaction of two objects that are sliding across each other not merely making contact April 21st, 2017

Forge Nano 2017: 1st Quarter Media Update April 20th, 2017

Arrowhead Presents ARC-520 and ARC-521 Clinical Data at The International Liver Congress(TM) April 20th, 2017

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