Here's Why Arrowhead Pharmaceuticals Is Soaring (Again) Today
Shares of Arrowhead Pharmaceuticals (NASDAQ: ARWR) jumped as much as 18.1% today after the company reported fiscal full-year 2019 operating results. Arrowhead Pharmaceuticals is a pre-commercial company, but operations have been solidly profitable thanks to a collaboration with Johnson & Johnson subsidiary Janssen.
The gene-silencing company reported revenue of $168 million on the year that resulted in operating income of $61 million. A tax provision resulted in net income that was actually higher than that: $68 million. Arrowhead Pharmaceuticals ended September with $303 million in cash.
As of 12:46 p.m. EST, the pharma stock had settled to a 17% gain.
Source Fool.com
