08:13 AM EST, 11/24/2025 (MT Newswires) -- Arrowhead Pharmaceuticals ( ARWR ) said Monday that it has earned a $200 million milestone payment from Sarepta Therapeutics ( SRPT ) for meeting a second development milestone event in a phase 1/2 clinical study of ARO-DM1 to treat type 1 myotonic dystrophy.

Under the terms of the license and collaboration deal between the two companies, Arrowhead said it expects to receive the payment within 60 days.

The second milestone event, the company said, was reached after a drug safety committee review, authorization of the escalation of the dose, and for meeting a patient enrollment target.

Arrowhead said it plans to begin enrollment in cohort 5 (12 mg/kg) in Q1 of 2026.

Shares of Arrowhead were up 1.4% pre-bell, while Sarepta shares were down 1.6%.