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ARWR · ARROWHEAD PHARMACEUTICALS, INC.

Company guidance, FDA catalysts, dilution risk and cash runway, built from SEC, FDA and ClinicalTrials.gov filings and updated every day.

$1.6B Cash on Hand

CF+ Cash Runway

9.1% Short Interest

$107.23 Analyst Target (13)

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📣 What ARWR Says Is Next

the end of 2026 · Plozasiran: “Acquired a U.S. Food and Drug Administration (FDA) priority review voucher, which the company intends to use with its upcoming plozasiran sNDA submission, anticipated before the end of 2026, to potentially expand the approved indication to include patients with severe hypertriglyceridemia (sHTG).”
Company press release, Aug 4, 2026 · SEC filing
mid-2027 · Zodasiran: “The Company anticipates that YOSEMITE will be completed in mid-2027 and, pending successful clinical results, intends to seek regulatory approval in multiple geographies thereafter.”
Company press release, Aug 4, 2026 · SEC filing
in 2026 · ARO-INHBE: “The Phase 1/2a studies of ARO-INHBE and ARO-ALK7 are ongoing, and the Company expects to report and present additional results in 2026.”
Company press release, Jan 6, 2026 · SEC filing

Quoted word for word from the company's press releases filed with the SEC. Timing is the company's own guidance, not a BioRadar estimate.

🧪 Trial & FDA Catalysts

Dec 2026 · Phase 1 · Active Trial · Study of ARO-ATXN2 Injection in Adults With Spinocerebellar Ataxia Type 2
Registry primary completion date, not a results date
Feb 2027 · Phase 1/2 · Recruiting · A First-In-Human Study of ARO-ALK7 in Adults With Obesity With and Without Type 2 Diabetes
Registry primary completion date, not a results date
Jun 2027 · Phase 1/2 · Recruiting · Study of ARO-MAPT-SC in Healthy Participants and Participants With Early Alzheimer's Disea
Registry primary completion date, not a results date
Aug 2027 · Phase 3 · Active Trial · A Phase 3 Study of Zodasiran in Adolescent and Adult Subjects With Homozygous Familial Hyp
Registry primary completion date, not a results date
Sep 2027 · Phase 1/2 · Recruiting · A First-In-Human Study of ARO-INHBE in Adults With Obesity With and Without Type 2 Diabete
Registry primary completion date, not a results date
Dec 2027 · Phase 2 · Recruiting · Study of Inhaled ARO-RAGE in Allergen-induced Mild Asthma
Registry primary completion date, not a results date

📊 Drug Pipeline

Drug	Indication	Most advanced trial	Status
Plozasiran FDA approved Nov 2025 · Redemplo	Severe Hypertriglyceridemia	Phase 3 · NCT06347003	Active not recruiting
Zodasiran	Homozygous Familial Hypercholesterolemia	Phase 3 · NCT07037771	Active not recruiting
3-Hydroxy-3-Methylglutaryl-Coenzyme A	Intracerebral Hemorrhage	Phase 3 · NCT03936361	Recruiting
ARO-MAPT-SC	Alzheimer Disease	Phase 1/2 · NCT07221344	Recruiting
ARO-INHBE	Obesity	Phase 1/2 · NCT06700538	Recruiting
ARO-MMP7 Inhalation Solution	Idiopathic Pulmonary Fibrosis	Phase 1/2 · NCT05537025	Completed
ARO-MUC5AC	Asthma	Phase 1/2 · NCT05292950	Terminated
ARO-RAGE	Asthma	Phase 2 · NCT07241546	Recruiting
Chlorpheniramine Polistirex	Hepatitis B, Chronic	Phase 2 · NCT02065336	Terminated
Fazirsiran	Alpha 1-Antitrypsin Deficiency	Phase 2 · NCT03945292	Completed
JNJ-56136379	Hepatitis B	Phase 1/2 · NCT03365947	Completed
Tenofovir	Hepatitis B	Phase 2 · NCT02738008	Terminated
Tenofovir Disoproxil	Hepatitis B	Phase 2 · NCT02577029	Terminated
ARO-ANG 3 Injection	Homozygous Familial Hypercholesterolemia	Phase 2 · NCT05217667	Terminated
Histamine-1 Receptor Antagonist	Hepatitis B	Phase 2 · NCT02738008	Terminated
ARC-520	Hepatitis B, Chronic	Phase 2 · NCT02065336	Terminated

Also used in these trials (approved or third-party drugs, not ARWR's own candidates): Diphenhydramine Hydrochloride, Entecavir, Peginterferon Alfa-2A, Tirzepatide, Acetaminophen.

Source: ClinicalTrials.gov trials sponsored by the company, one row per candidate at its most advanced registered trial. FDA approvals: Drugs@FDA. Wrong or missing drug? Report it

💰 Cash Runway & Dilution Risk

ARWR holds $1.6B in cash and short-term investments (as of Jun 30, 2026) and burns about $46.5M/quarter from operations, an estimated runway of 103.3 months at that rate (BioRadar estimate, not company guidance).

Dilution pressure: 25 · Moderate

Cash runway not available
ATM program on file since Dec 2025 +15
Shelf registration (S-3ASR, Dec 2025) +10

Recent financing filings on SEC EDGAR:

Jan 9, 2026 · Convertible notes offering · 424B5
Jan 9, 2026 · Convertible notes offering · 424B5
Jan 7, 2026 · Convertible notes offering · 424B5
Jan 7, 2026 · Convertible notes offering · 424B5
Dec 11, 2025 · Shelf registration with ATM program, up to $500M · S-3ASR
Jan 4, 2024 · Underwritten offering · 424B5

Source: SEC EDGAR (XBRL cash flow and financing filings). Dilution Watch: every company ranked → · Get an alert when ARWR files for a raise →

👥 Who Owns ARWR

Insiders 4.3% Institutions (654 holders) 85.4% Public and other holders 10.3%

Holder	Type	Shares	% of shares	As of
BlackRock, Inc.	Institution (13G, 5%+)	14,232,545	10.08%	2026-06-30
Avoro Capital Advisors LLC	Institution (13G, 5%+)	13,823,383	9.79%	2026-06-30
FMR LLC	Institution (13G, 5%+)	7,349,107	5.20%	2026-03-31
Vanguard Capital Management	Institution (13G, 5%+)	7,081,293	5.01%	2026-03-31
Vanguard Portfolio Management LLC	Institution (13F)	6,351,355	4.50%	2026-06-30
State Street Corporation	Institution (13F)	5,694,640	4.03%	2026-06-30
NORGES BANK	Institution (13F)	3,896,536	2.76%	2026-06-30
Invesco Ltd.	Institution (13F)	3,883,976	2.75%	2026-06-30
Christopher Richard Anzalone Chief Executive Officer, Director	Insider	3,792,739	2.69%	2026-01-02
Geode Capital Management, LLC	Institution (13F)	3,530,612	2.50%	2026-06-30
Fred Alger Management, LLC	Institution (13F)	3,301,919	2.34%	2026-06-30
Patrick O'Brien COO	Insider	547,408	0.39%	2026-01-06

Share count 141,254,467 (latest 10-Q/10-K). Insiders: each officer's, director's and 10% owner's latest Form 3, 4 or 5, direct and indirect shares; options are not counted. 5%+ holders: latest Schedule 13D or 13G of each holder above 5%. Institutions: the total held by all 13F filers (Yahoo Finance); the table lists the largest (13F quarter ending 2026-06-30). Sources have different dates, so the split is approximate. Source: SEC EDGAR.

📈 Recent Insider Activity (Form 4)

Trade date	Insider	Transaction	Shares	Price	Owned after
2026-08-18 filed 2026-08-20	OLUKOTUN ADEOYE Y	Sale (S)	2,000	$86.96	31,600
2026-08-18 filed 2026-08-20	PERRY MICHAEL S	Sale (S)	11,600	$87.30	111,459
2026-05-12 filed 2026-05-14	Lu Hongbo	Sale (S)	2,970	$76.88	52,012
2026-04-23 filed 2026-04-24	Hamilton James C	Sale (S)	10,000	$75.00	226,958
2026-04-22 filed 2026-04-24	Apel Daniel Joseph	Sale (S)	8,730	$71.92	162,905

Only open-market purchases (P) and sales (S) are trading decisions. Awards (A), option exercises (M) and tax withholding (F) are compensation mechanics. Source: SEC Form 4.

📅 Past FDA Decisions & Stock Reactions

Date	Drug	Type	Run-up 30d	Decision 1d	After 5d
2025-11-18	—	NDA	+9.1%	+0.8%	+10.2%

Browse all historical PDUFA outcomes →

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Data: SEC EDGAR, FDA, ClinicalTrials.gov, Yahoo Finance • Informational purposes only, not investment advice. • All tracked stocks A–Z