Company: ARWR
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038858
Chunk: 79

Company: ARROWHEAD PHARMACEUTICALS, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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2024 was $5.8 million and $4.4 million, respectively. Depreciation and amortization expense for property, plant and equipment for the nine months ended June 30, 2025 and 2024 was $16.2 million and $12.3 million, respectively.During the first quarter of fiscal 2025, the Company substantially completed the build out of its manufacturing facility in Verona, Wisconsin, leading to the reclassification of $162.7 million from construction in progress to buildings and $2.6 million from construction in progress to manufacturing equipment. The Company subsequently incurred and capitalized $10.6 million to buildings and $13.9 million to manufacturing equipment during the second and third quarters of fiscal 2025. Furthermore, the Company began depreciating the newly completed manufacturing facility over a 39-year period and the manufacturing equipment over 7- or 10-year periods.  During the first quarter of fiscal 2024, the Company completed the build out of its laboratory and office facilities in Verona, Wisconsin, which resulted in the reclassification of $71.8 million from construction in progress to buildings. The Company subsequently incurred and capitalized $4.2 million from construction in progress to buildings in fiscal 2024.Accrued ExpensesAccrued expenses consisted of the following as of:June 30, 2025September 30, 2024(in thousands) Accrued research and development expenses$31,708 $28,069 Accrued research and development expenses; co-development24,627 23,351 Accrued capital expenditures346 4,206 Other8,137 7,391 Total accrued expenses$64,818 $63,017 As of June 30, 2025, the Company’s accrued research and development expenses was primarily attributable to ongoing clinical trial operations, preclinical animal studies, and associated toxicology assessments. In addition, accrued research and development expenses; co-development relates to the co-development and co-commercialization activities under the Takeda License Agreement (see Note 2).

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NOTE 4. INVESTMENTS

The Company’s investments consisted of the following:As of June 30, 2025(in thousands)Adjusted BasisGrossUnrealized GainsGrossUnrealized LossesFair ValueAvailable-for-sale securities$768,746 $1,938 $(105)$770,579 Total current investments$768