Arrowhead Scores $100M From Sarepta After Hitting Early Trial Goal for Muscular Dystrophy Drug

-5.54% Pre

+3.53% Pre

Arrowhead Pharmaceuticals, Inc.

ARWR

64.66

-5.54%

0.00% Pre

Sarepta Therapeutics, Inc.

SRPT

22.31

22.44

+3.53%

+0.58% Pre

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) today announced that it has earned a $100 million milestone payment from Sarepta Therapeutics (NASDAQ:SRPT). The milestone was triggered when Arrowhead reached the first of two prespecified enrollment targets and subsequent authorization to dose escalate in a Phase 1/2 clinical study of ARO-DM1, an investigational RNA interference (RNAi) therapeutic for the treatment of type 1 myotonic dystrophy (DM1), the most common adult-onset muscular dystrophy. Arrowhead currently expects to achieve the second enrollment target by the end of 2025, which would trigger an additional $200 million milestone payment from Sarepta.

In accordance with the license and collaboration agreement, Arrowhead expects to receive this payment within 60 days.

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