Arrowhead Pharma (ARWR) Shares Dragged by Sarepta Concerns

We recently published 10 Big Names Get Slammed. Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) is one of the biggest losers on Monday.

Arrowhead Pharmaceuticals fell by 12.23 percent on Monday to close at $14.71 apiece as investors turned cautious amid regulatory troubles faced by one of its partners, Sarepta Therapeutics.

Last week, the FDA ordered Sarepta Therapeutics to stop selling Elevidys drugs following the death of two patients while undergoing treatment. However, Sarepta defied the orders, saying that it would continue to ship the drug to the ambulant population.

Concerns spilled over to shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR), which has an ongoing partnership with Sarepta for the development of four drug candidates, especially since a large chunk of its revenues in the last reported quarter was tied to its partnership with the latter.

A scientist in a lab coat analyzing a Petri dish surrounded by scientific equipment in a research lab.

In the last reported quarter, Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) swung to a net income of $370.4 million from a net loss of $125.3 million in the same period last year.

Revenues stood at $542.7 million, all of which was tied to its license and collaboration agreement with Sarepta.