ARROWHEAD PHARMACEUTICALS, INC.

For the period ended Jun 30, 2026. Filed Aug 4, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2026 · Filed Aug 4, 2026

ARWR$49.00-0.5%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows

(in thousands)

	Nine Months Ended June 30,
	2026	2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$(288,249)	$13,993
Adjustments to reconcile net (loss) income to net cash flow from operating activities
Stock-based compensation	50,913	44,279
Depreciation and amortization	19,417	17,542
Accretion of available-for-sale securities premiums/discounts	(4,122)	(4,545)
Amortization of convertible notes issuance costs	1,423	—
Realized gain on investments	(36)	—
Non-cash interest expense on liability related to the sale of future royalties	25,115	18,893
Non-cash interest expense on credit facility	44,374	48,774
Loss on equity method investment	9,190	—
Gain on VIE's sale of IPR&D assets	(19,000)	—
Non-cash transfer of property and equipment to affiliate	579	—
Changes in operating assets and liabilities:
Accounts receivable	(1,907)	(9,841)
Prepaid expenses and other current assets	(29,940)	(22,342)
Accounts payable	9,980	21,662
Accrued expenses	(15,214)	7,956
Deferred revenue	123,940	22,979
Operating lease, net	(3,556)	(3,417)
Other	(2,453)	3,128
Net cash (used in) provided by operating activities	(79,546)	159,061
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(8,567)	(15,177)
Purchases of available-for-sale securities	(1,138,714)	(774,616)
Proceeds from sales of available-for-sale securities	48,788	—
Proceeds from maturities of available-for-sale securities	224,152	587,880
Net cash used in investing activities	(874,341)	(201,913)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the exercises of stock options	12,763	3,476
Proceeds from issuance of warrants	99,998	25,000
Proceeds from issuance of convertible notes	700,000	—
Payments of debt issuance costs	(18,716)	(5,000)
Purchase of capped calls	(47,880)	—
Proceeds from issuance of common stock related to ATM offering	76,109	241,388
Payments of issuance costs of common stock related to ATM offering	(2,038)	—
Proceeds from issuance of common stock related to follow-on offering	130,000	—
Payments of issuance costs of common stock related to follow-on offering	(13,393)	—
Repayments of credit facility	(117,891)	(201,625)
Proceeds from Visirna credit agreement	—	7,098
Dividends paid by variable interest entity to noncontrolling shareholders	(38,434)	—
Net cash provided by financing activities	780,518	70,337
Net (decrease) increase in cash, cash equivalents and restricted cash	(173,369)	27,485
Effect of exchange rate on cash, cash equivalents and restricted cash	1,580	(377)

CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
BEGINNING OF PERIOD	226,548	102,685
END OF PERIOD	$54,759	$129,793
Supplemental disclosure of cash flows:
Interest paid	$—	$(19)
Income taxes paid	$(21,587)	$(81)
Supplemental disclosure of non-cash investing activities:
Capital expenditures included in accrued expenses	$1,084	$346
Supplemental disclosure of non-cash financing activities:
ROU assets obtained in exchange for new lease liabilities	$13,410	$—

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