Company: ARWR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001628280-25-004634
Chunk: 61

Company: ARROWHEAD PHARMACEUTICALS, INC.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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— Furniture5,594 5,594 Computers and software1,028 981 Leasehold improvements104,389 104,410 Construction in progress25,661 188,731 449,885 444,053 Less: Accumulated depreciation and amortization(62,816)(58,021)Property, plant and equipment, net$387,069 $386,032 Depreciation and amortization expense for property, plant and equipment for the three months ended December 31, 2024 and 2023 was $4.8 million and $3.8 million, respectively. During the first quarter of fiscal 2025, the Company completed the build out of its manufacturing facility in Verona, Wisconsin. This resulted in the reclassification of $162.7 million from construction in progress to building and $2.6 million to manufacturing equipment as of December 31, 2024. Additionally, 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 $76.0 million from construction in progress to buildings as of December 31, 2024. Accrued ExpensesAccrued expenses consist of the following:December 31, 2024September 30, 2024(in thousands) Accrued R&D expenses$20,379 $28,069 Accrued R&D expenses; co-development33,554 23,351 Accrued capital expenditures2,574 4,206 Other2,894 7,391 Total accrued expenses$59,401 $63,017 

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NOTE 4. INVESTMENTS

The Company’s investments consisted of the following:As of December 31, 2024(in thousands)Adjusted BasisGrossUnrealized GainsGrossUnrealized LossesFair ValueAvailable-for-sale securities$498,743 $387 $(84)$499,046 Total current investments$498,743 $387 $(84)$499,046 As of September 30, 2024(in thousands)Adjusted BasisGrossUnrealized GainsGrossUnrealized LossesFair ValueAvailable-for-sale securities$577,465