Company Update (NASDAQ:ARWR): Arrowhead Research Corp eports Fiscal 2016 First Quarter Results
Arrowhead Research Corp (NASDAQ:ARWR) announced financial results for its fiscal 2016 first quarter endedDecember 31, 2015.
Fiscal 2016 First Quarter and Recent Company Highlights
- Presented data at the AASLD Liver Meeting 2015 including the following:
- ARC-520 led to robust, sustained anti-viral effects in chimpanzees with chronic HBV, and we also described an important new discovery that HBV DNA integrated into the host genome is likely an important source of HBV surface antigen (HBsAg) production
- In a Phase 2a clinical study, ARC-520 effectively reduced HBV viral antigens derived from cccDNA. HBsAg was reduced substantially with a maximum reduction of 1.9 logs (99%) and a mean maximum reduction of 1.5 logs (96.8%) in treatment naïve e-antigen (HBeAg)-positive patients
- Presented data at Hep DART 2015 showing that ARC-520 led to immune reactivation in 7 of 9 chimpanzees with chronic hepatitis B infection
- Began dosing in the Phase 2b MONARCH combination study
- Expanded Part A of the Phase 1 study to test additional dose levels in healthy volunteers and expanded Part B to add additional treatment sites for patients with alpha-1 antitrypsin deficiency
- Received Orphan Drug Designation by the European Medicines Agency
Platform and Early Pipeline
- Presented data at the Annual Meeting of the Oligonucleotide Therapeutics Society on the development of ARC-LPA against cardiovascular disease, which uses a new subcutaneous delivery construct that Arrowhead has developed (Original Source)
Shares of Arrowhead closed today at $3.18, down $0.06 or 1.18%. ARWR has a 1-year high of $9.36 and a 1-year low of $3.11. The stock’s 50-day moving average is $4.72 and its 200-day moving average is $5.57.
On the ratings front, Zacks Small-Cap Research analyst Grant Zeng maintained a Buy rating on ARWR, with a price target of $15, in a report issued on December 10. The current price target represents a potential upside of 365.8% from where the stock is currently trading. According to TipRanks.com, Zeng has a total average return of -47.2%, a 14.3% success rate, and is ranked #3396 out of 3556 analysts.
Arrowhead Research Corp is engaged in developing novel drugs to treat intractable diseases by silencing the genes. The Company’s drug candidate ARC-520 is designed to treat chronic hepatitis B infection.