Arrowhead Pharmaceuticals Earns $50M Milestone From Royalty Pharma, Pursuant To Its 2016 Agreement With Amgen And 2022 Agreement With Royalty Pharma, Arrowhead Is Further Eligible To Receive Up To An Additional $375M From Amgen And $110M From Royalty Pharma In Aggregate Development, Regulatory, And Sales Milestone Payments Associated With Olpasiran
Portfolio Pulse from Benzinga Newsdesk
Arrowhead Pharmaceuticals, Inc. (ARWR) received a $50 million milestone payment from Royalty Pharma plc (RPRX) after completing enrollment for the Phase 3 trial of olpasiran, a drug developed in partnership with Amgen (AMGN). Arrowhead is eligible for up to an additional $485 million in milestone payments from Amgen and Royalty Pharma. Olpasiran, developed using Arrowhead's TRiMTM technology, aims to lower levels of lipoprotein(a), a risk factor for cardiovascular disease.
May 02, 2024 | 8:39 pm
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POSITIVE IMPACT
Arrowhead Pharmaceuticals received a $50M milestone payment from Royalty Pharma and is eligible for up to $485M more, highlighting the potential of its olpasiran drug.
The milestone payment and potential future payments underscore the financial and strategic importance of olpasiran for Arrowhead. This news could positively impact investor sentiment and Arrowhead's stock price in the short term, reflecting the progress and potential revenue from olpasiran.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Amgen is involved in the development of olpasiran with Arrowhead Pharmaceuticals, with potential future milestone payments up to $375M.
Amgen's involvement in olpasiran's development and potential future payments indicate its commitment to the drug's success. However, given Amgen's size and portfolio diversity, this news might have a neutral short-term impact on its stock price.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Royalty Pharma made a $50M milestone payment to Arrowhead Pharmaceuticals for the development of olpasiran, with potential for future payments.
While the payment is a cash outflow for Royalty Pharma, it reflects its investment in promising pharmaceutical developments. The impact on RPRX's stock price might be neutral in the short term, as the benefits of this investment are more long-term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70