Arrowhead Pharmaceuticals (ARWR) reported Q4 and fiscal 2018 earnings results after the bell today. For the fourth quarter ended September 30, 2018, the company reported a loss of 12 cents per share on revenues of $11.3 million. This compares to a loss of 14 cents per share on revenues of $8.7 million in the prior year quarter. Shares of Arrowhead dropped about 3% in the after-market trading.
Analysts had forecasted the company to post a loss of 12 cents per share in Q4 on revenues of $8 million.
For the year ended September 30, 2018, revenue almost halved to $16.1 million versus $31.4 million in the prior year. Net loss widened to 65 cents per share compared to a loss of 47 cents per share in the prior year.
For fiscal 2018, analysts estimated Arrowhead to post a loss of 65 cents per share on revenues of $12.89 million.
In early October, Arrowhead said that Janssen Pharmaceuticals, a unit of Johnson & Johnson (JNJ) signed an agreement to develop and market its gene-silencing Hepatitis B drug and pick up a minor stake in the company in a deal that could be potentially worth more than $3.7 billion.
The Pasadena, California-based firm received $175 million as an upfront payment and received $75 million in the form of an equity investment by Johnson & Johnson Innovation – JJDC, Inc., at a price of $23.00 per share of Arrowhead common stock.
It’s worth noting that Arrowhead did not report its Q4 revenue and loss figures in the press release issued after the bell today. These key financial numbers of Q4 were reported by the company in the Form 10-K filed today with the SEC.
In the past one year, Arrowhead stock had tripled its value. The stock ended Tuesday’s trading at $13.62, down 0.29%. The price target set for the stock is $24.38.
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