Arrowhead Pharmaceuticals (ARWR +16.5%) extends its recent run to multi-year highs as shares jump in response to its full-year financial results, with revenues soaring 946% Y/Y to $169M; shares have gained ~430% YTD.
ARWR says it now has five TRiMTM-enabled candidates in the clinic, three wholly-owned and two partnered, with plans to submit regulatory filings for two additional clinical candidates during the next month, and to have 10 TRiM-enabled candidates in clinical studies targeting four different cell types by the end of 2020; it also expects to be in three pivotal studies by year-end 2020.
“The RNAi field is just beginning what we believe to be a golden age,” the company says. “The increasing validation of RNAi is growing amid a backdrop of scarcity related to companies capable of leveraging it therapeutically and near absolute scarcity of bringing RNAi outside the liver; we think we are probably years ahead of anyone else in this regard.”
Shares rose 16% yesterday after Baird upgraded shares in response to Novartis’ buyout of Arrowhead RNAi peer Medicines Co.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.