Earnings review- Arrowhead pharma(ARWR) Q2 2026
Muffett Investments
Earnings Watch · Stock Analysis Division
Research & Earnings Review
5 August 2026
◆ Healthcare · RNA Therapeutics
Arrowhead Pharmaceuticals
Report Period
Q3 FY2026
Reported: 2026-08-04
Headline
Beat Expectations
✓ Major Phase 3 sHTG Success
Key Metrics at a Glance
Q3 Revenue
$75.0M
Milestones & Product
Phase 3 sHTG
-81%
Triglyceride Cut
Pancreatitis Risk
-78%
vs. Placebo
Cash Position
$1.6B
Runway into 2029
Prescribers
>400
REDEMPLO Launch
Financial Metrics — Detailed Breakdown
| Metric | Q3 FY2026 | Q2 FY2026 | YoY / QoQ Trend | Consensus Est. | vs. Estimate |
|---|---|---|---|---|---|
| Total Revenue | $75.0M | $73.7M | +1.8% QoQ | $70.5M | BEAT |
| REDEMPLO® Product Sales | Commercial Ramp | Early Access | Accelerating | — | BEAT |
| Net Loss | -$194.3M | -$132.7M | Controlled Burn | -$198.0M | BEAT |
| R&D Investment | ~$145.0M | ~$138.0M | +5.1% QoQ | — | N/A |
| Cash & Equivalents | $1.60B | $1.78B | Solid Runway | $1.55B | BEAT |
| Net Position | +$918.1M Cash | +$1.10B Cash | Strong Net Cash | — | BEAT |
⚡ Management Commentary & Clinical Signals
-
Phase 3 SHASTA-3/4 Registrational Success "Plozasiran delivered an 81% median triglyceride reduction and a 78% reduction in acute pancreatitis events, unlocking severe hypertriglyceridemia (sHTG)."
-
Priority Review Voucher (PRV) Acquired "Acquired a PRV to accelerate FDA sNDA submission for plozasiran before end of 2026, cutting regulatory review timeline to 6 months."
-
Adipocyte Extrahepatic Delivery Frontier "First human demonstration of siRNA delivery directly to fat cells, establishing Arrowhead as the first-mover in RNAi obesity therapeutics."
📈 Price Reaction & Technical Structure
Pre-Earnings Close
$82.50
2026-08-03
Post-Earnings Price
$86.50
Active session
1-Day Move
+4.85%
vs. Biotech Index
52-Week Range
$22.50 – $89.50
Stage 2 Uptrend
Trading above 20-week ($76.40), 50-week ($64.20), and 100-week ($52.10) EMAs in a Weinstein Stage 2 breakout.
Our Verdict
Constructive / Target $125.00
Arrowhead reported a transformational quarter, combining strong Q3 revenue ($75.0M) with flawless Phase 3 SHASTA data that solidifies plozasiran as the prospective standard-of-care in severe hypertriglyceridemia. Backed by a $1.6B cash cushion into 2029 and an unencumbered extrahepatic adipocyte platform for obesity, ARWR remains our top pure-play siRNA conviction pick.
- Phase 3 sHTG Hit: 81% triglyceride reduction and 78% lower pancreatitis events confirm blockbuster potential.
- Fast-Tracked Timeline: Priority Review Voucher (PRV) secures accelerated 6-month sNDA review by FDA.
- Robust Cash Runway: $1.6 Billion balance sheet extends operational cash runway through 2029 without dilution.
- Obesity Innovation Moat: First-ever extrahepatic siRNA delivery into fat cells creates unmatched takeover logic.
- Technical Breakout: Stock is breaking out in Weinstein Stage 2 with institutional volume backing. Target $125.00 (+44.5% upside).
