Company: ARWR
Filing Date: 2025-12-11
Form Type: S-3ASR
Source: 0001193125-25-314755
Chunk: 35

Company: ARROWHEAD PHARMACEUTICALS, INC.
Filing Date: 2025-12-11
Form: S-3ASR
Chunk 35
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 us, our business, our market, or our competitors. If one or more of these analysts initiate research with an unfavorable rating or downgrade our common stock, provide a more favorable recommendation about our competitors or publish inaccurate
or unfavorable research about our business, the trading price of our common stock would likely decline. If any analyst who may cover us were to cease coverage of us or fail to regularly publish reports on us, we could lose visibility in the
financial markets, which in turn could cause the trading price or trading volume of our common stock to decline.

S-7

USE OF PROCEEDS

We may issue and sell shares of our common stock having aggregate gross sales proceeds of up to $500,000,000 from time to time. Because there
is no minimum offering amount required as a condition to close this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this time.

We will retain broad discretion over the use of the net proceeds from the sale of the securities offered hereby. We currently intend to use
the net proceeds from this offering for general corporate purposes, including working capital, capital expenditures, research and development expenditures, clinical trial expenditures, commercialization activity expenditures and preparation for
potential commercial launches of late stage products, including associated supply chain activities. A portion of the net proceeds may also be used for the acquisition of businesses, products and technologies or for other strategic purposes. The
precise amount and timing of the application of such proceeds will depend upon our funding requirements and the availability and cost of other capital. As of the date of this prospectus supplement, we cannot specify with certainty all of the
particular uses for the net proceeds that we will have from the sale of the shares of our common stock. Pending these uses of the net proceeds from this offering, if any, we may invest the net proceeds in investment grade, short-term
interest-bearing obligations, such as money-market funds, certificates of deposit, or direct or guaranteed obligations of the United States government, or hold the net proceeds as cash.

S-8

DILUTION If you purchase shares of our common stock in this offering, your interest will be diluted to the extent of the difference between the public offering price per share and the net tangible book value per share of our common stock after this offering. We calculate net tangible book value per share by dividing our net tangible assets (tangible assets less total liabilities) by the number of shares of our common stock issued and outstanding as of September