Arrowhead Pharmaceuticals Inc 2025年度报告

(Mark One) xANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2025 oTRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 ARROWHEAD PHARMACEUTICALS, INC. (Exact name of registrant as specified in its charter)__________________________________________________________________ (626) 304-3400177 E. Colorado Blvd, Suite 700Pasadena, California 91105(Address and telephone number of principal executive offices)__________________________________________________________________ Securities registered pursuant to Section 12(b) of the Exchange Act: Indicate by a check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YesoNox Indicate by a check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. YesoNox Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YesxNoo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). YesxNoo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growthcompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financialreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.x Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). YesoNox If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect thecorrection of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ The aggregate market value of issuer’s voting and non-voting outstanding common stock held by non-affiliates was approximately $1.4 billion based upon the closing stockprice of issuer’s common stock on March 31, 2025. Shares of common stock held by each officer and director and by each person who is known to own 10% or more of theoutstanding common stock have been excluded in that such persons may be deemed to be affiliates of the Company. This determination of affiliate status is not necessarily aconclusive determination for other purposes. As of November 19, 2025, 135,809,558 shares of the issuer’s Common Stock were issued and outstanding. DOCUMENTS INCORPORATED BY REFERENCE Portions of the Definitive Proxy Statement to be filed for Arrowhead Pharmaceuticals, Inc.’s 2026 Annual Meeting of Stockholders are incorporated by reference into Part PART I ITEM 1.BUSINESS1ITEM 1A.RISK FACTORS30ITEM 1B.UNRESOLVED STAFF COMMENTS59ITEM 1C.CYBERSECURITY59ITEM 2.PROPERTIES60ITEM 3.LEGAL PROCEEDINGS60ITEM 4.MINE SAFETY DISCLOSURES60 PART II ITEM 5.MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERSAND ISSUER PURCHASES OF EQUITY SECURITIES61ITEM 6.RESERVED62ITEM 7.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS62ITEM 7A.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK72ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA72ITEM 9.CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIALDISCLOSURE73ITEM 9A.CONTROLS AND PROCEDURES73ITEM 9B.OTHER INFORMATION74ITEM 9C.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS74 PART III ITEM 10.DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE74ITEM 11.EXECUTIVE COMPENSATION74ITEM 12.SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT ANDRELATED STOCKHOLDER MATTERS74ITEM 13.CERTAIN RELATIONS