10-Q Filing

ARROWHEAD PHARMACEUTICALS, INC. CIK: 879407 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001564590-22-003616`
Period End Date	20211231
Filing Date	20220202
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	arwr-10q_20211231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 32 Cash Flow Statement 43 Stockholders Equity 17

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	145.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	145.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	104.80M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$184.43M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$91.59M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	104.33M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$150.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	104.33M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	104.80M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$10.26M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$4.36M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$5.20M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.19M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.79M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$126.01M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$126.73M	USD	Point-in-time
Short term investments	`HeldToMaturitySecuritiesCurrent`	$56.63M	USD	Point-in-time
Short term investments	`HeldToMaturitySecuritiesCurrent`	$112.54M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$338.28M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$384.60M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$52.30M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$48.67M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$13.24M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$13.66M	USD	Point-in-time
Long term investments	`HeldToMaturitySecuritiesNoncurrent`	$245.59M	USD	Point-in-time
Long term investments	`HeldToMaturitySecuritiesNoncurrent`	$217.57M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$17.35M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$16.88M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$272.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$273.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$638.54M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$710.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.46M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$18.52M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$14.00M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$9.77M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.97M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.25M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.83M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$111.06M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$108.65M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$146.54M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$137.03M	USD	Point-in-time
Lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$22.49M	USD	Point-in-time
Lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$23.30M	USD	Point-in-time
Deferred revenue, net of current portion	`ContractWithCustomerLiabilityNoncurrent`	$131.50M	USD	Point-in-time
Deferred revenue, net of current portion	`ContractWithCustomerLiabilityNoncurrent`	$106.46M	USD	Point-in-time
TOTAL LONG-TERM LIABILITIES	`LiabilitiesNoncurrent`	$128.95M	USD	Point-in-time
TOTAL LONG-TERM LIABILITIES	`LiabilitiesNoncurrent`	$154.79M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 145,000 shares authorized; 104,798 and 104,327 shares issued and outstanding as of December 31, 2021 and September 30, 2021, respectively	`CommonStockValue`	$197.00K	USD	Point-in-time
Common stock, $0.001 par value; 145,000 shares authorized; 104,798 and 104,327 shares issued and outstanding as of December 31, 2021 and September 30, 2021, respectively	`CommonStockValue`	$197.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.08B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.05B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-108.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-69.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-707.56M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-644.69M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$461.78M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$372.56M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$408.82M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$454.47M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$638.54M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$710.15M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
REVENUE	`RevenueFromContractWithCustomerExcludingAssessedTax`	$21.30M	USD	1 Quarter
REVENUE	`RevenueFromContractWithCustomerExcludingAssessedTax`	$27.44M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$65.77M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$36.55M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$25.00M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$8.80M	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$45.36M	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$90.76M	USD	1 Quarter
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$-63.32M	USD	1 Quarter
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$-24.05M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$1.16M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$2.17M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$1.15M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-707.00K	USD	1 Quarter
TOTAL OTHER INCOME (EXPENSE)	`NonoperatingIncomeExpense`	$3.32M	USD	1 Quarter
TOTAL OTHER INCOME (EXPENSE)	`NonoperatingIncomeExpense`	$449.00K	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-20.73M	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-62.87M	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-62.87M	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-20.73M	USD	1 Quarter
NET INCOME (LOSS) PER SHARE - BASIC	`EarningsPerShareBasic`	$-0.60	USD	1 Quarter
NET INCOME (LOSS) PER SHARE - BASIC	`EarningsPerShareBasic`	$-0.20	USD	1 Quarter
NET INCOME (LOSS) PER SHARE - DILUTED	`EarningsPerShareDiluted`	$-0.20	USD	1 Quarter
NET INCOME (LOSS) PER SHARE - DILUTED	`EarningsPerShareDiluted`	$-0.60	USD	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	102.76M	shares	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	104.53M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	102.76M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	104.53M	shares	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$180.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-39.00K	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$-62.91M	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$-20.55M	USD	1 Quarter

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$-20.73M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-62.87M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$8.14M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$24.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.85M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.57M	USD	1 Quarter
Amortization/(accretion) of note premiums/discounts	`InvestmentIncomeNetAmortizationOfDiscountAndPremium`	$280.00K	USD	1 Quarter
Amortization/(accretion) of note premiums/discounts	`InvestmentIncomeNetAmortizationOfDiscountAndPremium`	$302.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$8.16M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-10.11M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.18M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.19M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-27.44M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-12.55M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-5.39M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.00M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-2.29M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.13M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingLiabilities`	$-855.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingLiabilities`	$922.00K	USD	1 Quarter
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-61.35M	USD	1 Quarter
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-38.92M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.78M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.27M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$65.88M	USD	1 Quarter
Proceeds from sale of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$34.43M	USD	1 Quarter
Proceeds from sale of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$38.27M	USD	1 Quarter
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-33.38M	USD	1 Quarter
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$30.16M	USD	1 Quarter
Proceeds from the exercises of stock options	`ProceedsFromStockOptionsExercised`	$1.89M	USD	1 Quarter
Proceeds from the exercises of stock options	`ProceedsFromStockOptionsExercised`	$5.10M	USD	1 Quarter
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$1.89M	USD	1 Quarter
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$5.10M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.66M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-92.85M	USD	1 Quarter
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$139.92M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$143.58M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$91.59M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$184.43M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$139.92M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$143.58M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$91.59M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$184.43M	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$461.78M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$372.56M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$408.82M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$454.47M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$8.14M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$24.50M	USD	1 Quarter
Exercise of stock options, Amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$5.10M	USD	1 Quarter
Exercise of stock options, Amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.15M	USD	1 Quarter
Exercise of stock options, Shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	207,814.00	shares	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$180.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-39.00K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-20.73M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-62.87M	USD	1 Quarter
Ending Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$461.78M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$372.56M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$408.82M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$454.47M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.