# EDGAR Filing Document

**Accession Number:** 0000879407
**File Stem:** 0000000000-23-001414
**Filing Date:** 2023-2
**Character Count:** 9410
**Document Hash:** 38c2d7c40b3152a5d7a52517623e037e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-23-001414.hdr.sgml**: 20230620

**ACCESSION NUMBER**: 0000000000-23-001414

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230210

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ARROWHEAD PHARMACEUTICALS, INC.
- **CENTRAL INDEX KEY:** 0000879407
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 460408024
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** UPLOAD

**BUSINESS ADDRESS:**
- **STREET 1:** 177 E COLORADO BLVD
- **STREET 2:** SUITE 700
- **CITY:** PASADENA
- **STATE:** CA
- **ZIP:** 91105
- **BUSINESS PHONE:** 626-696-4702

**MAIL ADDRESS:**
- **STREET 1:** 177 E COLORADO BLVD
- **STREET 2:** SUITE 700
- **CITY:** PASADENA
- **STATE:** CA
- **ZIP:** 91105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ARROWHEAD RESEARCH CORP
- **DATE OF NAME CHANGE:** 20040112

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INTERACTIVE GROUP INC
- **DATE OF NAME CHANGE:** 20020509

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INTERACTIVE INC
- **DATE OF NAME CHANGE:** 19940224
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001628280-22-030869

## Text-Extract

```

United States securities and exchange commission logo

                            February 10, 2023

       Kenneth Myszkowski
       Chief Financial Officer
       Arrowhead Pharmaceuticals, Inc.
       177 E. Colorado Blvd, Suite 700
       Pasadena, California 91105

                                                        Re: Arrowhead
Pharmaceuticals, Inc.
                                                            Form 10-K for the
Fiscal Year Ended September 30, 2022
                                                            Filed November 28,
2022
                                                            File No. 001-38042

       Dear Kenneth Myszkowski:

              We have limited our review of your filing to the financial
statements and related
       disclosures and have the following comments. In some of our comments, we
may ask you to
       provide us with information so we may better understand your disclosure.

              Please respond to these comments within ten business days by
providing the requested
       information or advise us as soon as possible when you will respond. If
you do not believe our
       comments apply to your facts and circumstances, please tell us why in
your response.

                                                        After reviewing your
response to these comments, we may have additional comments.

       Form 10-K for the Fiscal Year Ended September 30, 2022

       Management's Discussion and Analysis of Financial Condition and Results
of Operations
       Results of Operations - Revenue, page 60

   1.                                                   Given the multiple
collaboration and license agreements to which you are a party and the
                                                        fact that to-date your
revenues have been limited to upfront and milestone payments
                                                        related to these
agreements, please consider revising your future filings to provide a
                                                        tabular summary which
disaggregates your revenue by collaborative partner.
       Notes to Consolidated Financial Statements
       Note 2. Collaboration and License Agreements
       Joint Venture and License Agreement with Visirna Therapeutics, Inc.,
page F-18

   2.                                                   Please provide us with
the following as it relates to your Joint Venture and License
                                                        Agreement with Visirna
Therapeutics:
                                                            Provide your
analysis under ASC 810 supporting your conclusions that (a) Visirna
 Kenneth Myszkowski
Arrowhead Pharmaceuticals, Inc.
February 10, 2023
Page 2
              meets the definition of a variable interest entity and (b) that
you are the primary
              beneficiary.
                Explain the factors that you considered in concluding that
Visirna meets the
              definition of a business.
                Provide us with more details as to how this joint venture was
capitalized. In this
              regard, you disclose that you entered into a Share Purchase
Agreement whereby you
              acquired a majority stake in Visirna as partial consideration for
the License
              Agreement. You also disclose that Vivo Capital acquired a
minority stake in
              exchange for $60 million in initial capital. Clarify how this
ties into your Statement
              of Stockholders' Equity on page F-7, whereby it appears that the
$60 million
              investment provided by Vivo was allocated between APIC ($39.8
million) and Non-
              controlling Interest ($20.2 million).
                Provide us with copies of both the Visirna License Agreement
and Share Purchase
              Agreement to assist us with our analysis. In addition, explain
your consideration of
              filing these agreements as exhibits.

       In closing, we remind you that the company and its management are
responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review,
comments, action or
absence of action by the staff.

       You may contact Frank Wyman at 202-551-3660 or Angela Connell at
202-551-3426
with any questions.

FirstName LastNameKenneth Myszkowski                           Sincerely,
Comapany NameArrowhead Pharmaceuticals, Inc.
                                                               Division of
Corporation Finance
February 10, 2023 Page 2                                       Office of Life
Sciences
FirstName LastName

```

### Attached PDF Documents

**Attachment 1:** `filename1`

![img-0.jpeg](img-0.jpeg)

DIVISION OF
CORPORATION FINANCE

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

February 10, 2023

Kenneth Myszkowski
Chief Financial Officer
Arrowhead Pharmaceuticals, Inc.
177 E. Colorado Blvd, Suite 700
Pasadena, California 91105

**Re: Arrowhead Pharmaceuticals, Inc.**

**Form 10-K for the Fiscal Year Ended September 30, 2022**

**Filed November 28, 2022**

**File No. 001-38042**

Dear Kenneth Myszkowski:

We have limited our review of your filing to the financial statements and related disclosures and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure.

Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response.

After reviewing your response to these comments, we may have additional comments.

Form 10-K for the Fiscal Year Ended September 30, 2022

Management's Discussion and Analysis of Financial Condition and Results of Operations
Results of Operations - Revenue, page 60

1. Given the multiple collaboration and license agreements to which you are a party and the fact that to-date your revenues have been limited to upfront and milestone payments related to these agreements, please consider revising your future filings to provide a tabular summary which disaggregates your revenue by collaborative partner.

Notes to Consolidated Financial Statements

Note 2. Collaboration and License Agreements

Joint Venture and License Agreement with Visirna Therapeutics, Inc., page F-18

2. Please provide us with the following as it relates to your Joint Venture and License Agreement with Visirna Therapeutics:
- Provide your analysis under ASC 810 supporting your conclusions that (a) Visirna

Kenneth Myszkowski
Arrowhead Pharmaceuticals, Inc.
February 10, 2023
Page 2

meets the definition of a variable interest entity and (b) that you are the primary beneficiary.

- Explain the factors that you considered in concluding that Visirna meets the definition of a business.
- Provide us with more details as to how this joint venture was capitalized. In this regard, you disclose that you entered into a Share Purchase Agreement whereby you acquired a majority stake in Visirna as partial consideration for the License Agreement. You also disclose that Vivo Capital acquired a minority stake in exchange for $60 million in initial capital. Clarify how this ties into your Statement of Stockholders' Equity on page F-7, whereby it appears that the $60 million investment provided by Vivo was allocated between APIC ($39.8 million) and Non-controlling Interest ($20.2 million).
- Provide us with copies of both the Visirna License Agreement and Share Purchase Agreement to assist us with our analysis. In addition, explain your consideration of filing these agreements as exhibits.

In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff.

You may contact Frank Wyman at 202-551-3660 or Angela Connell at 202-551-3426 with any questions.

Sincerely,

Division of Corporation Finance
Office of Life Sciences