ARROWHEAD PHARMACEUTICALS, INC.
For the period ended Mar 31, 2026. Filed May 7, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 7, 2026
ARWR$49.00-0.5%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows
(in thousands)
| Six Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net (loss) income | $(109,328) | $192,645 |
| Adjustments to reconcile net (loss) income to net cash flow from operating activities | ||
| Stock-based compensation | 36,041 | 31,236 |
| Depreciation and amortization | 12,758 | 11,319 |
| Accretion of available-for-sale securities premiums/discounts | (2,515) | (2,788) |
| Amortization of convertible notes issuance costs | 657 | — |
| Realized gain on investments | (19) | — |
| Non-cash interest expense on liability related to the sale of future royalties | 16,432 | 10,915 |
| Non-cash interest expense on credit facility | 29,262 | 32,369 |
| Loss on equity method investment | 6,719 | — |
| Gain on VIE's sale of IPR&D assets | (19,000) | — |
| Non-cash transfer of property and equipment to affiliate | 555 | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (8,861) | (2,365) |
| Prepaid expenses and other current assets | (8,413) | (20,936) |
| Accounts payable | 13,073 | (1,717) |
| Accrued expenses | (22,136) | 18,921 |
| Deferred revenue | 154,760 | 43,268 |
| Operating lease, net | (2,423) | (2,255) |
| Other | 361 | 3,169 |
| Net cash provided by operating activities | 97,923 | 313,781 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchases of property, plant and equipment | (4,713) | (12,813) |
| Purchases of available-for-sale securities | (1,061,577) | (677,892) |
| Proceeds from sales of available-for-sale securities | 23,748 | — |
| Proceeds from maturities of available-for-sale securities | 124,518 | 347,402 |
| Net cash used in investing activities | (918,024) | (343,303) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from the exercises of stock options | 10,146 | 3,253 |
| Proceeds from issuance of warrants | 99,998 | 25,000 |
| Proceeds from issuance of convertible notes | 700,000 | — |
| Payments of debt issuance costs | (18,716) | (5,000) |
| Purchase of capped calls | (47,880) | — |
| Proceeds from issuance of common stock related to ATM offering | 48,156 | 241,388 |
| Payments of issuance costs of common stock related to ATM offering | (1,324) | — |
| Proceeds from issuance of common stock related to follow-on offering | 130,000 | — |
| Payments of issuance costs of common stock related to follow-on offering | (13,393) | — |
| Repayments of credit facility | (84,506) | (151,625) |
| Dividends paid by variable interest entity to noncontrolling shareholders | (41,514) | — |
| Net cash provided by financing activities | 780,967 | 113,016 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (39,134) | 83,494 |
| Effect of exchange rate on cash, cash equivalents and restricted cash | 1,103 | (470) |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH: | ||
| BEGINNING OF PERIOD | 226,548 | 102,685 |
| END OF PERIOD | $188,517 | $185,709 |
| Supplemental disclosure of cash flows: | ||
| Interest paid | $— | $(19) |
| Income taxes paid | $(21,565) | $(81) |
| Supplemental disclosure of non-cash investing activities: | ||
| Capital expenditures included in accrued expenses | $334 | $358 |
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