Company: ARWR
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001628280-25-024666
Chunk: 49

Company: ARROWHEAD PHARMACEUTICALS, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 liabilities measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation techniques utilized by the Company:  March 31, 2025Level 1Level 2Level 3Total(in thousands)Available-for-sale securitiesU.S. government and agency securities$— $277,170 $— $277,170 Commercial notes— 113,387 — 113,387 Corporate debt securities— 521,143 — 521,143 Total available-for-sale securities— 911,700 — 911,700 Cash equivalentsMoney market instruments137,535 — — 137,535 Commercial notes— 28,908 — 28,908 Total cash equivalents137,535 28,908 — 166,443 Total financial assets$137,535 $940,608 $— $1,078,143 September 30, 2024Level 1Level 2Level 3Total(in thousands)Available-for-sale securitiesU.S. government and agency securities$— $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 in aggregate one-time milestone payments due if and when the following milestone events occur: (i) $50.0 million on completion of enrollment in the OCEAN Phase 3 clinical trial for olpasiran, (ii)