04:49 PM EDT, 08/08/2024 (MT Newswires) -- Arrowhead Pharmaceuticals ( ARWR ) reported a fiscal Q3 loss late Thursday of $1.38 per diluted share, widening from a loss of $0.96 a year earlier.

Analysts surveyed by Capital IQ expected a loss of $0.57.

The company did not report any revenue for the quarter ended June 30, compared with $15.8 million in the year-ago period.

Analysts polled by Capital IQ expected $37.1 million.

Meanwhile, the company said it has secured up to $500 million in strategic financing from Sixth Street.

The financing will be available as a senior secured credit facility, with $400 million funded at close and another $100 million available at Arrowhead's option.

The credit facility matures on Aug. 7, 2031, and bears interest at an annual rate of 15%, the company said.

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