ARROWHEAD PHARMACEUTICALS INC

In fiscal 2023, the Company continued to develop and deploy its Targeted RNAi Molecule platform (“TRiM™”) to identify and develop new therapeutics. TRiM™ utilizes ligand-mediated delivery and is designed to enable tissue-specific targeting, while being structurally simple. The TRiM™ platform is designed to offer several potential competitive advantages including:

•A more sophisticated RNAi trigger selection and screening process that identifies potent sequences rapidly in locations that RNAi competitors may miss;

•Multiple routes of administration including subcutaneous, intravenous and inhaled;

•Faster time to clinical candidates;

•Optimal pharmacologic activity and long duration-of-effect;

•Potentially wide safety margins;

•Simplified manufacturing at reduced cost; and

•The ability to take RNAi to tissues beyond the liver.