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Sentiment for biotech is historically low right now. Although investors are rightfully eyeing Arrowhead Pharmaceuticals' high cash burn with unease, I think the recent punishment is short-sighted.
The business has many opportunities to raise capital on favorable terms. That includes monetizing R&D, the upcoming licensing of late-stage cardiometabolic asset zodasiran, and non-dilutive debt, as the recent $500 million funding ($400 million immediately) demonstrates.
Additionally, Arrowhead Pharmaceuticals is brimming with potential fresh off its second partnered program advancing to phase 3, earning U.S. Food and Drug Administration (FDA) Breakthrough Therapy designation for plozasiran, and ahead of its almost guaranteed approval and market launch for plozasiran in 2025.
If you aren't already on Discord, then join me and fellow members as we discuss biotech investing and this trade in a more timely manner.
The Trade
Arrowhead Pharmaceuticals is considered a Growth (Quality) position. I purchased 51.35 shares at $19.475 per share on September 25, 2024.
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