Company: ARWR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001628280-25-004634
Chunk: 71

Company: ARROWHEAD PHARMACEUTICALS, INC.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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the transfer. As of December 31, 2024 and September 30, 2024, the Company did not have any financial assets or financial liabilities based on Level 3 measurements.The following table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation techniques utilized by the Company:  December 31, 2024Level 1Level 2Level 3Total(in thousands)Available-for-sale securitiesU.S. government and agency securities$— $135,718 $— $135,718 Commercial notes— 136,944 — 136,944 Corporate debt securities— 226,384 — 226,384 Total available-for-sale securities— 499,046 — 499,046 Cash equivalentsMoney market instruments27,290 — — 27,290 Commercial notes— 2,996 — 2,996 Total cash equivalents27,290 2,996 — 30,286 Total financial assets$27,290 $502,042 $— $529,332 September 30, 2024Level 1Level 2Level 3Total(in thousands)Available-for-sale securitiesU.S. government and agency securities$— $160,723 $— $160,723 Commercial notes— 179,714 — 179,714 Corporate debt securities— 237,839 — 237,839 Total available-for-sale securities— 578,276 — 578,276 Cash equivalentsMoney market instruments66,966 — — 66,966 Total cash equivalents66,966 — — 66,966 Total financial assets$66,966 $578,276 $— $645,242 

NOTE 11. LIABILITY RELATED TO THE SALE OF FUTURE ROYALTIES

In November 2022, the Company and Royalty Pharma entered into the Royalty Pharma Agreement, pursuant to which Royalty Pharma agreed to pay up to $410.0 million in cash to the Company in consideration for the Company’s future royalty interest in olpasiran, originally developed by the Company and licensed to Amgen in September 2016 under the Olpasiran Agreement. Pursuant to the Royalty Pharma Agreement, Royalty Pharma paid $250.0 million upfront and agreed to pay up to an additional $160.0 million