Shares of Arrowhead Pharmaceuticals rose nearly 16% today after the company announced fiscal first-quarter 2019 operating results. The company reminded investors of its massive collaboration with Janssen, a Johnson & Johnson subsidiary, that has significantly derisked the medium-term development of its bustling drug pipeline.
In fact, the fiscal first-quarter 2019 financial results show Arrowhead Pharmaceuticals is now flush with cash thanks to the license agreement with Janssen. The business reported almost $190 million in cash and cash equivalents as of Dec. 31, the end of the quarterly period. That bodes well for advancing its five unpartnered clinical programs, including its lead drug candidate ARO-AAT in alpha-1 liver disease.
As of 12:03 p.m. EST, the stock had settled to a 14.4% gain.
Arrowhead Pharmaceuticals is developing a pipeline of gene-silencing drug candidates based on RNA interference (RNAi) technology, which is one potential way to treat diseases with a simple genetic basis. The biotech has added its own twist to the Nobel Prize-winning method called targeted RNAi molecule (TRiM), which allows therapeutic payloads to be delivered into specific tissues in the body. That could result in increased safety, higher effectiveness at lower doses, and reduced side effects.
Janssen is intrigued by the potential. It offered to develop ARO-HBV (since renamed JNJ-3989) for treating hepatitis B and an additional three drug candidates based on the TRiM platform that will be named later. In return, Arrowhead Pharmaceuticals received an up-front payment of $175 million and an equity investment of $75 million. If all development, regulatory, and commercialization milestones are met in the collaboration, then the innovator could receive up to $3.7 billion in additional milestone payments. Royalties on potential sales would be earned on top of that bounty.
Arrowhead Pharmaceuticals has hovered around a market cap of $1 billion since early October 2018. Considering the company has plenty of cash to develop its promising pipeline and has attracted two deep-pocketed partners in Amgen and Janssen, investors are certainly excited about what the future may hold. That said, it will take years and successful trial outcomes to deliver on that potential, which means investors will need to remain patient.
Arrowhead Pharmaceuticals 股价今日上涨近16%，此前该公司公布了2019年第一财季的经营业绩。该公司提醒投资者，它与强生( Johnson & Johnson )子公司杨森( Janssen )的大规模合作，极大地嘲讽了其繁忙的药品管道的中期发展。
事实上，2019财年第一季度财务业绩显示，由于与杨森（Janssen）达成的许可协议， Arrowhead Pharmaceuticals 现在现金充裕。截至季度末12月31日，该业务的现金及现金等价物接近1.9亿美元。这预示着它的五个非专利临床项目的进展，包括它的主要候选药物 ARO-AAT 在α-1肝病。
截至 EST 下午12:03,该股已收高14.4%.
Arrowhead Pharmaceuticals 正在开发一条基于 RNA 干扰（ RNAi ）技术的基因沉默候选药物管道，这是一种以简单的基因基础治疗疾病的潜在途径。这种生物技术在诺贝尔奖获得者的靶向 RNAi 分子（ TRiM ）方法中增加了自己的优势，这种方法允许将治疗性有效载荷传递到体内的特定组织中。这可能导致更高的安全性，更高的低剂量效力，减少副作用。
杨森（Janssen）对这种潜力很感兴趣。它提出开发 ARO-HBV （此后更名为 JNJ-3989），用于治疗乙肝，并在 TRiM 平台基础上增加3个候选药物，稍后将命名。作为回报， Arrowhead Pharmaceuticals 收到了1.75亿美元的预付款和7500万美元的股权投资。如果所有的开发、监管和商业化里程碑都在合作中实现，那么创新者将获得高达37亿美元的额外里程碑付款。潜在销售的特许权使用费将在奖金的基础上获得。
自2018年10月初以来， Arrowhead Pharmaceuticals 的市值一直徘徊在10亿美元左右。考虑到该公司有大量现金来开发其有前途的管道，并吸引了安进（Amgen）和杨森（Janssen）两家财力雄厚的合作伙伴，投资者肯定对未来可能持有的股份感到兴奋。尽管如此，要实现这一潜力还需要数年时间和成功的试验结果，这意味着投资者需要保持耐心。