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Mid-Afternoon Market Update: Arrowhead Pharma Tumbles Following EX-1 RNAi Program Discontinuations; Arbutus Biopharma Shares Surge
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Arrowhead Research Corp (NASDAQ: ARWR) announced financial results Monday for its fiscal 2015 first quarter ended December 31, 2014.

Revenue came in at $170,750. Analysts expected $40,000, similar to the $43,000 reported in the prior year period.

The loss per shares was -$0.41, greater than the expected loss of -$0.34 and the -$0.28 loss reported in the year-ago period.

The company announced an expanded the management team with the appointment of Susan Boynton as Vice President, Regulatory Affairs and Patrick O’Brien as General Counsel.

Arrowhead also announced that its RNAi-based candidate ARC-520 is being investigated in the treatment of chronic HBV infection.

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According to the press release, “Arrowhead has completed a Phase 1 single ascending dose study in normal volunteers and the company is conducting a single dose Phase 2a study in chronic HBV patients. Approximately 350-400 million people worldwide are chronically infected with the hepatitis B virus, which can lead to cirrhosis of the liver and is responsible for 80 percent of primary liver cancers globally.”

The company also filed an application for approval to begin a Phase 1 clinical trial of ARC-AAT for the treatment of liver disease associated with Alpha-1 Antitrypsin Deficiency, a rare genetic disease that severely damages the liver and lungs of affected individuals.

Arrowhead Research Corp traded at $6.18 in the after hours session, down 0.48 percent.

Posted-In: Earnings News FDA

 

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