08:04 AM EDT, 07/28/2025 (MT Newswires) -- Arrowhead Pharmaceuticals ( ARWR ) said Monday that it earned a $100 million milestone payment from Sarepta Therapeutics ( SRPT ) .

The payment was triggered by meeting the first of two preset enrollment targets and gaining approval to escalate dosing in a phase 1/2 study of ARO-DM1, an investigational RNAi therapy for type 1 myotonic dystrophy, the company said.

Arrowhead said it expects to achieve the second enrollment target by the end of 2025, which would trigger an additional $200 million milestone payment from Sarepta.

Arrowhead shares were up 1% in recent premarket activity.