ARROWHEAD PHARMACEUTICALS, INC. 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information Shares of the Company’s common stock are traded on The Nasdaq Global Select Market under the symbol “ARWR.” There were 86 holders of record of the Company’s common stock as of November 19, 2025. Dividends The Company has never paid dividends on its common stock and does not anticipate that it will do so in the foreseeable future. Recent Sales of Unregistered Securities None. Repurchases of Equity Securities The following table contains information relating to the repurchases of our common stock during the three months ended September 30, 2025 : Period Total Number of Shares Purchased Average Price Per Share Total Number of Shares Purchase as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares that May Yet Be Purchase Under the Plans or Programs July 1 - July 31, 2025 — — — — August 1 - August 31, 2025 2,660,989 $ 18.79 — $ — September 1 - September 30, 2025 — — — — Total 2,660,989 $ 18.79 — $ — In August 2025, the Company repurchased 2,660,989 shares of our common stock from Sarepta in accordance with the share repurchase agreement related to the first development milestone payment for SRP-1003 under the Sarepta Agreement. Performance Graph The following performance graph shall not be deemed “soliciting material” or to be “filed” with the SEC, nor shall such information be incorporated by reference into any future filing under the Securities Act of 1933 or Securities Exchange Act of 1934, each as amended, except to the extent that we specifically incorporate it by reference into such filing. The graph compares the cumulative 5-year total return to stockholders on the Company’s common stock relative to the cumulative total returns of the Nasdaq Composite Index and the Nasdaq Biotechnology Index. The Company selected the Nasdaq Biotechnology Index because it believes the index reflects the market conditions within the industry in which the Company primarily operates. The comparison of total return on investment, defined as the change in year-end stock price plus reinvested dividends, for each of the periods assumes that $100 was invested on September 30, 2020 in each of the Company’s common stock, the Nasdaq Composite Index and the Nasdaq Biotechnology Index, with investment weighted on the basis of market capitalization. 61 The comparisons in the following graph are based on historical data and are not intended to forecast the possible future performance of the Company’s common stock. $100 investment in stock or index Ticker 2020 2021 2022 2023 2024 2025 Arrowhead Pharmaceuticals, Inc. ARWR $ 152.80 $ 221.54 $ 117.28 $ 95.35 $ 68.74 $ 122.39 NASDAQ Biotechnology Index ^NBI $ 136.10 $ 162.58 $ 120.46 $ 126.41 $ 152.44 $ 156.02 NASDAQ Composite Index ^IXIC $ 139.61 $ 180.62 $ 132.21 $ 165.26 $ 227.38 $ 283.27 ITEM 6. RESERVED