Arrowhead Pharmaceuticals Announces Closing of Agreement with GlaxoSmithKline

Rhea-AI Summary

Arrowhead Pharmaceuticals (NASDAQ: ARWR) announced the closure of its exclusive license agreement with GlaxoSmithKline (LSE/NYSE: GSK), initially revealed on November 22, 2021. The transaction's closing was contingent upon meeting customary closing conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. This milestone marks a significant step in Arrowhead's collaboration with GSK, potentially impacting its product development and market position.

Positive

• Closure of the exclusive license agreement with GlaxoSmithKline could enhance product development opportunities and market position.

Negative

• None.

PASADENA, Calif.--(BUSINESS WIRE)-- Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR) today announced that the exclusive license agreement between Arrowhead and GlaxoSmithKline (LSE/NYSE: GSK) announced on November 22, 2021, has now closed. Closing of the transaction was subject to customary closing conditions and expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

Safe Harbor Statement under the Private Securities Litigation Reform Act:

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this release except for historical information may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “hope,” “intend,” “plan,” “project,” “could,” “estimate,” or “continue” are intended to identify such forward-looking statements. In addition, any statements that refer to projections of our future financial performance, trends in our business, expectations for our product pipeline or product candidates, including anticipated regulatory submissions and clinical program results, prospects or benefits of our collaborations with other companies, or other characterizations of future events or circumstances are forward-looking statements. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of numerous factors and uncertainties, including the impact of the ongoing COVID-19 pandemic on our business, the safety and efficacy of our product candidates, decisions of regulatory authorities and the timing thereof, the duration and impact of regulatory delays in our clinical programs, our ability to finance our operations, the likelihood and timing of the receipt of future milestone and licensing fees, the future success of our scientific studies, our ability to successfully develop and commercialize drug candidates, the timing for starting and completing clinical trials, rapid technological change in our markets, the enforcement of our intellectual property rights, and the other risks and uncertainties described in our most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other documents filed with the Securities and Exchange Commission from time to time. We assume no obligation to update or revise forward-looking statements to reflect new events or circumstances.

Source: Arrowhead Pharmaceuticals, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220124005250/en/

Arrowhead Pharmaceuticals, Inc.

Vince Anzalone, CFA

626-304-3400

ir@arrowheadpharma.com

Investors:

LifeSci Advisors, LLC

Brian Ritchie

212-915-2578

britchie@lifesciadvisors.com

www.lifesciadvisors.com

Media:

LifeSci Communications, LLC

Josephine Belluardo, Ph.D.

646-751-4361

jo@lifescicomms.com

www.lifescicommunications.com

Source: Arrowhead Pharmaceuticals, Inc.

FAQ

What does the license agreement between Arrowhead Pharmaceuticals and GlaxoSmithKline entail?

The license agreement involves collaboration between Arrowhead Pharmaceuticals and GlaxoSmithKline, focusing on product development opportunities.

When was the license agreement between ARWR and GSK announced?

The license agreement was announced on November 22, 2021.

What is the significance of the closing of the license agreement for Arrowhead Pharmaceuticals?

The closing of the agreement could enhance Arrowhead's product development strategies and overall market position.

How does the Hart-Scott-Rodino Antitrust Improvements Act relate to the agreement closure?

The closure was subject to customary conditions, including the expiration of the waiting period mandated by the Hart-Scott-Rodino Antitrust Improvements Act.