10-Q Filing

ARROWHEAD PHARMACEUTICALS, INC. CIK: 879407 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001628280-23-002413`
Period End Date	20221231
Filing Date	20230206
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	arwr-20221231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 38 Cash Flow Statement 54 Stockholders Equity 19

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	145.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	145.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	106.14M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	105.96M	shares	Point-in-time
Cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$108.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$202.25M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	106.14M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.41M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	105.96M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$39.57M	USD	Point-in-time
Short term investments	`HeldToMaturitySecuritiesCurrent`	$268.39M	USD	Point-in-time
Short term investments	`HeldToMaturitySecuritiesCurrent`	$299.58M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$7.29M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$8.41M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$20.20M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$25.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$405.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$575.00M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$110.30M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$147.31M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$11.96M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$11.54M	USD	Point-in-time
Long-term investments	`HeldToMaturitySecuritiesNoncurrent`	$105.87M	USD	Point-in-time
Long-term investments	`HeldToMaturitySecuritiesNoncurrent`	$115.77M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$41.66M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$58.29M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$218.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$210.00K	USD	Point-in-time
Total Assets	`Assets`	$691.94M	USD	Point-in-time
Total Assets	`Assets`	$891.49M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.87M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$796.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$48.17M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$46.86M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$12.25M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$4.09M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.66M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.78M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$74.10M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$66.28M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$138.85M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$122.01M	USD	Point-in-time
Lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$78.80M	USD	Point-in-time
Lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$79.47M	USD	Point-in-time
Deferred revenue, net of current portion	`ContractWithCustomerLiabilityNoncurrent`	$40.79M	USD	Point-in-time
Deferred revenue, net of current portion	`ContractWithCustomerLiabilityNoncurrent`	$55.95M	USD	Point-in-time
Liability related to the sale of future royalties	`RoyaltiesLiabilityNoncurrent`	-	USD	Point-in-time
Liability related to the sale of future royalties	`RoyaltiesLiabilityNoncurrent`	$252.85M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$134.75M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$373.11M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value: Authorized 145,000 shares; issued and outstanding 106,140 and 105,960 shares	`CommonStockValue`	$198.00K	USD	Point-in-time
Common stock, $0.001 par value: Authorized 145,000 shares; issued and outstanding 106,140 and 105,960 shares	`CommonStockValue`	$199.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.24B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.22B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-136.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-258.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-862.08M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-820.75M	USD	Point-in-time
Total Arrowhead Pharmaceuticals, Inc. stockholders equity	`StockholdersEquity`	$377.04M	USD	Point-in-time
Total Arrowhead Pharmaceuticals, Inc. stockholders equity	`StockholdersEquity`	$398.52M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$19.33M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$19.82M	USD	Point-in-time
Total noncontrolling interest and stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$396.37M	USD	Point-in-time
Total noncontrolling interest and stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$408.82M	USD	Point-in-time
Total noncontrolling interest and stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$418.34M	USD	Point-in-time
Total noncontrolling interest and stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$372.56M	USD	Point-in-time
Total Liabilities, Noncontrolling Interest and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$891.49M	USD	Point-in-time
Total Liabilities, Noncontrolling Interest and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$691.94M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$62.55M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$27.44M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$83.69M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$65.77M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$20.98M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$25.00M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$90.76M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$104.68M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-42.13M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-63.32M	USD	1 Quarter
Interest (expense) income, net	`InterestIncomeExpenseNonoperatingNet`	$1.16M	USD	1 Quarter
Interest (expense) income, net	`InterestIncomeExpenseNonoperatingNet`	$-167.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-707.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$507.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$340.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$449.00K	USD	1 Quarter
Loss before income tax expense and noncontrolling interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-62.87M	USD	1 Quarter
Loss before income tax expense and noncontrolling interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-41.79M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$17.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss including noncontrolling interest	`ProfitLoss`	$-62.87M	USD	1 Quarter
Net loss including noncontrolling interest	`ProfitLoss`	$-41.81M	USD	1 Quarter
Net loss attributable to noncontrolling interest, net of tax	`NetIncomeLossAttributableToNoncontrollingInterest`	$-486.00K	USD	1 Quarter
Net loss attributable to noncontrolling interest, net of tax	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net loss attributable to Arrowhead Pharmaceuticals, Inc.	`NetIncomeLoss`	$-62.87M	USD	1 Quarter
Net loss attributable to Arrowhead Pharmaceuticals, Inc.	`NetIncomeLoss`	$-41.33M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.39	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.60	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.60	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.39	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	104.53M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	106.04M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	104.53M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	106.04M	shares	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-39.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-122.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-41.93M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-62.91M	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-62.87M	USD	1 Quarter
Net loss	`ProfitLoss`	$-41.81M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$19.39M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$24.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.69M	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`	$-690.00K	USD	1 Quarter
Non-cash interest expense on liability related to the sale of future royalties	`NonCashInterestExpenseLiabilityRelatedToSaleOfFutureRoyalties`	$2.85M	USD	1 Quarter
Non-cash interest expense on liability related to the sale of future royalties	`NonCashInterestExpenseLiabilityRelatedToSaleOfFutureRoyalties`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$38.16M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-10.11M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$450.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-10.53M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-5.39M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.07M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-7.20M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-2.29M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-22.98M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-27.44M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$230.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$559.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-61.31M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-75.52M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$38.91M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.78M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$111.20M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$65.88M	USD	1 Quarter
Proceeds from sales and maturities of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$38.27M	USD	1 Quarter
Proceeds from sales and maturities of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$69.42M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-80.69M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.38M	USD	1 Quarter
Proceeds from the exercises of stock options	`ProceedsFromStockOptionsExercised`	$1.89M	USD	1 Quarter
Proceeds from the exercises of stock options	`ProceedsFromStockOptionsExercised`	$576.00K	USD	1 Quarter
Proceeds from the sale of future royalties	`ProceedsFromContributedCapital`	$250.00M	USD	1 Quarter
Proceeds from the sale of future royalties	`ProceedsFromContributedCapital`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$250.58M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.89M	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-92.81M	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$94.37M	USD	1 Quarter
Effect of exchange rate on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-39.00K	USD	1 Quarter
Effect of exchange rate on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-122.00K	USD	1 Quarter
BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$184.43M	USD	Point-in-time
BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$202.25M	USD	Point-in-time
BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$108.00M	USD	Point-in-time
BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$91.59M	USD	Point-in-time
END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$184.43M	USD	Point-in-time
END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$202.25M	USD	Point-in-time
END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$108.00M	USD	Point-in-time
END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$91.59M	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Income taxes (paid) refunded	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes (paid) refunded	`IncomeTaxesPaidNet`	-	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$396.37M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$408.82M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$418.34M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$372.56M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$19.39M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$24.50M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$576.00K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.15M	USD	1 Quarter
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	81,733.00	shares	1 Quarter
Common stock - restricted stock units vesting	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-39.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-122.00K	USD	1 Quarter
Interest in joint venture	`MinorityInterestDecreaseFromRedemptions`	$486.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-62.87M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-41.33M	USD	1 Quarter
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$396.37M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$408.82M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$418.34M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$372.56M	USD	Point-in-time

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