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ARWR · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Arrowhead Pharmaceuticals, Inc. (ARWR) stock moving?
ARWR fell sharply after the AHA 2026 data, dropping 15.3% on Nov 9 to a $49.24 close on about 8.06M shares, roughly six times its prior volume run-rate of about 1.3M. The intraday low was $46.45. The stock held near $49 on Nov 10 on 2.64M shares, so selling pressure appears to have eased. The company's own releases are favorable: plozasiran showed a 78% lower acute pancreatitis event rate versus placebo with sustained triglyceride reductions, ARO-DIMER-PA lowered LDL cholesterol and triglycerides, and the Sixth Street refinancing cuts the borrowing rate from 15% to SOFR plus 5.50%, removes required sweeps, and extends maturity to November 2031. The news set does not explain why the stock sold off on positive data, so the cause of the drop is unclear from these items. The fiscal year-end results and webcast on November 12, 2026 are the next scheduled catalyst and fall inside the short-term window.
News behind the analysis
- Reported Saturday, Arrowhead Presents Plozasiran Data At AHA 2026 Showing 78% Lower Acute Pancreatitis Event Rate Versus Placebo And Sustained Triglyceride Reductions, Plus ARO-DIMER-PA Lowering LDL Cholesterol And TriglyceridesArrowhead presented plozasiran data at AHA 2026 showing a 78% lower acute pancreatitis event rate versus placebo, plus sustained triglyceride reductions. It also reported ARO-DIMER-PA lowering LDL cholesterol and triglycerides.
- Arrowhead Pharmaceuticals Announces Participation in Upcoming Investor ConferencesArrowhead will take part in the 2026 Jefferies Global Healthcare Conference and Citi's 2026 Global Healthcare Conference.
- Arrowhead Pharmaceuticals Presents Plozasiran Data at AHA Scientific Sessions 2026Arrowhead presented new clinical data for its RNAi-based cardiometabolic therapies, including plozasiran, at AHA Scientific Sessions 2026.
- Arrowhead Pharmaceuticals Refinances Existing Credit FacilityArrowhead refinanced its $400 million Sixth Street facility, retiring it at a $68 million discount. The new term loan costs SOFR plus 5.50% versus 15% previously and matures in November 2031.
- Arrowhead Refinances Debt, Cuts Borrowing Costs And Boosts Financial Flexibility With New $400M Sixth Street LoanThe refinancing lowers borrowing costs and removes required sweeps on partnership and commercial proceeds. It gives Arrowhead more operational and strategic flexibility.
- Arrowhead Pharmaceuticals to Webcast 2026 Fiscal Year-End ResultsArrowhead will host a conference call and webcast on November 12, 2026 to discuss results for the fiscal year ended September 30, 2026.
- Arrowhead Pharmaceuticals to Present Clinical Data on ARO-DIMER-PA at AHA Scientific Sessions 2026Arrowhead announced first-in-human data for its dual-functional RNAi molecule ARO-DIMER-PA at AHA Scientific Sessions 2026.
- Arrowhead Pharma To Present Three-Year Data From PALISADE Study And Open-Label Extension At American Heart Association Scientific Sessions 2026Arrowhead planned to present three-year PALISADE study and open-label extension data at AHA Scientific Sessions 2026.
About Arrowhead Research Corporation
Arrowhead Pharmaceuticals, which used to be called Arrowhead Research Corporation, is a Pasadena-based biotech company. It makes RNA interference (RNAi) medicines, which treat disease by switching off the genes that cause it. Its TRiM platform can deliver these drugs to many kinds of tissue, including the liver, lungs, muscle, fat and brain, and in recent years it has moved from research only to selling its first approved drug, REDEMPLO (plozasiran), for a rare disorder called familial chylomicronemia syndrome.
How it makes money
For most of its history, nearly all of Arrowhead's revenue has come from partners: upfront payments, milestone payments and royalties when other drug companies license its RNAi programs. Recent examples include a large deal with Sarepta that lifted revenue in fiscal 2025 and a 2026 license of its liver drug ARO-PNPLA3 to Madrigal. It now also earns money from selling REDEMPLO after its US launch. Because partner payments come in lumps, revenue jumps around from quarter to quarter, and the company has often lost money; for example, it reported a net loss of about $194 million in its quarter ending June 2026. It pays for its research partly through stock sales and convertible debt, such as a $625 million note offering in January 2026.
What usually moves ARWR
- Clinical trial results, such as the Phase 3 SHASTA-3 and SHASTA-4 studies of plozasiran in severe hypertriglyceridemia (very high blood fats)
- FDA approvals and label expansions for plozasiran
- How well REDEMPLO sells
- New licensing deals and milestone payments from partners
- Early data from its obesity and brain programs, such as ARO-MAPT for Alzheimer's