ARROWHEAD PHARMACEUTICALS, INC. (ARWR) FY2025 10-K Annual Report
ARROWHEAD PHARMACEUTICALS, INC. (ARWR) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Nov 25, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
ARROWHEAD PHARMACEUTICALS, INC. FY2025 10-K Analysis
Business Overview
- • Core business: RNA interference (RNAi) therapeutics silencing disease-causing genes via proprietary TRiM delivery platform
- • New commercial product: REDEMPLO® (plozasiran) FDA approved in 2025 for Familial Chylomicronemia Syndrome (FCS)
- • Strategic shift: Building commercial infrastructure for rare FCS and expansion to severe hypertriglyceridemia (sHTG) market with Phase 3 trials underway
- • Notable metric: 18 wholly-owned RNAi drug candidates in clinical trials from Phase 1 to Phase 3, plus multiple new candidates annually in discovery pipeline
- • Unique fact: Entered global licensing and collaboration agreements in 2024-2025 with Sarepta for rare disease RNAi therapies and Novartis for Parkinson’s-related program
Management Discussion & Analysis
- • Cash, cash equivalents, short-term investments sufficient for near-term needs as of Sept 30, 2025
- • Capital expenditures $12.5M in 2025, $136.9M in 2024 for manufacturing facility build-out; $0.1M more expected
- • Operating lease obligations $111.4M total, $7.3M due within 12 months
- • Secured term loan facility $500M; $400M funded, $100M optional; $106.7M prepayments including $66.7M in Nov 2025
- • Commitments for clinical, manufacturing, business agreements $665.5M as of Sept 30, 2025; many cancellable
Risk Factors
- • Regulatory risk from FDA clinical trial authorizations for ARO-DM1 affecting milestone payments ($100M milestone triggered Nov 2025)
- • Geopolitical risk limited; primary macro exposure through $500M upfront from Sarepta and $200M from Novartis licensing agreements in FY 2025
- • Operational risk in R&D pipeline dependency on clinical enrollment targets for multiple RNAi therapeutics, critical for milestone payments up to $250M
- • Competitive risk from Sarepta collaboration, potential market disruption due to Sarepta's vested interest and shared RNAi therapeutic platforms
- • Financial risk from $500M senior secured Credit Facility with $201.6M repayments in FY 2025, indicating leverage and refinancing requirements
ARROWHEAD PHARMACEUTICALS, INC. FY2025 Key Financial MetricsXBRL
Revenue
$829M
▲ +23258.2% YoY
Net Income
-$2M
▲ +99.7% YoY
Operating Margin
11.9%
▲ +1693892bp YoY
Net Margin
-0.2%
▲ +1688217bp YoY
ROE
-0.3%
▲ +32292bp YoY
Total Assets
$1.4B
▲ +21.5% YoY
EPS (Diluted)
$-0.01
▲ +99.8% YoY
Operating Cash Flow
$180M
▲ +138.8% YoY
Source: XBRL data from ARROWHEAD PHARMACEUTICALS, INC. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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