Bull case
Arrowhead Pharma is supported by a de-risked RNAi platform and convincing Phase 3 evidence that plozasiran delivered deep, durable triglyceride lowering of 79% to 81% at 12 months while cutting adjudicated acute pancreatitis events by 78% in the broad severe hypertriglyceridemia population, with an even stronger 100% reduction in the highest-risk subgroup. The company’s commercial case is strengthened by clear label-breadth signals, including >90% of treated patients reaching TG below 500 mg/dL and more than half below 150 mg/dL, alongside a quantified pancreatitis NNT of 24 that can support payer and prescriber adoption. Its outlook is further bolstered by a planned sNDA before year-end 2026, use of a $215 million priority review voucher to shorten review, and an already advancing first commercial product, Redemplo, which had prescription volume roughly double versus the prior quarter by F3Q26.