Here's Why Arrowhead Pharmaceuticals Rose 17.6% in August
Shares of Arrowhead Pharmaceuticals (NASDAQ: ARWR) gained over 17% last month, according to data from S&P Global Market Intelligence. The biopharma reported operating results through the first nine months of fiscal 2019, which were surprisingly good for a pre-commercial company. The business reported a $51.5 million operating profit in that span thanks to a lucrative development pact with Johnson & Johnson subsidiary Janssen Pharmaceuticals.
While the development agreement has provided what amounts to a "free" year of operations, Arrowhead Pharmaceuticals hasn't let the opportunity go to waste. The business has advanced multiple drug candidates outside the Johnson & Johnson collaboration, including an important asset it has full commercial rights to.
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Source Fool.com
