Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) stock fell 6% following Sarepta Therapeutics’ (NASDAQ:SRPT) sale of over 9.2 million Arrowhead shares in a privately negotiated block trade.
Sarepta expects to receive at least $174 million in gross proceeds from the transaction. In addition, approximately 2.66 million Arrowhead shares will be transferred to satisfy $50 million of a previously announced $100 million milestone payment. This milestone was triggered after reviewing safety data and achieving the first of two enrollment targets in the Phase 1/2 study of SRP-1003, an investigational RNA interference therapy for type 1 myotonic dystrophy (DM1).
Despite the sale, Sarepta CEO Doug Ingram stressed that the move was strategic, intended to fund the milestone payment, and does not signal any change in the company’s confidence in the siRNA approach or Arrowhead’s technology.
Sarepta plans to release preliminary data from its FSHD and DM1 programs in the second half of 2025, with more detailed results from the Phase 1/2 SRP-1003 study expected later in the year.
Arrowhead Pharmaceuticals stock price
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