ARROWHEAD PHARMACEUTICALS Business Summary

Arrowhead Pharmaceuticals, Inc. (ARWR) is a commercial-stage biopharmaceutical leader specializing in RNA interference (RNAi) therapeutics powered by its proprietary Targeted RNAi Molecule (TRiM) platform. The company’s revenue model has historically relied on high-value licensing and collaboration agreements with global partners such as Takeda, GSK, Amgen, and Sarepta—agreements that carry a combined potential of over $15 billion in future milestones. However, as of March 2026, the business has successfully transitioned into a commercial entity following the November 2025 FDA approval and subsequent launch of REDEMPLO® (plozasiran) for Familial Chylomicronemia Syndrome (FCS). Its primary business segments are organized by therapeutic focus, including cardiometabolic, pulmonary, and liver-targeted medicines, with a rapidly advancing pipeline featuring zodasiran and various extra-hepatic candidates. Arrowhead competes directly with Alnylam Pharmaceuticals, Ionis Pharmaceuticals, and Silence Therapeutics; while Alnylam remains the established incumbent in RNAi, Arrowhead’s TRiM platform offers competitive advantages in tissue-specific delivery and manufacturing simplicity, positioning the firm as a high-velocity challenger in the genetic medicine market. The company is led by President, CEO, and Chairman Dr. Christopher Anzalone, who has steered Arrowhead’s strategic pivot toward RNAi since 2007 and recently oversaw its evolution into a commercial organization. The executive team includes Chief Financial Officer Daniel Apel, who manages the firm’s strengthened $1.3 billion capital position, and Dr. James Hamilton, who was elevated to Chief Medical Officer and Head of R&D in early 2025 after leading the clinical development of key licensed assets like olpasiran. Operations are further supported by Patrick O’Brien as Chief Operating Officer and Andy Davis, who heads the critical cardiovascular and metabolic franchise. Arrowhead maintains a robust institutional investor base, with major holdings by BlackRock, Vanguard Group, and Avoro Capital Advisors, and is governed by a board that includes Lead Independent Director Dr. Michael S. Perry. This leadership pedigree, combined with deep expertise in oligonucleotide chemistry, underpins the company’s ability to scale its platform across diverse therapeutic indications.