Arrowhead Pharmaceuticals, Inc 8-K, filed Apr 15, 2025
Arrowhead Pharmaceuticals, Inc. (ARWR)
8-K
2025-04-15
For: 2025-04-11
View Original
Added on
April 08, 2026
About this 8-K
Arrowhead Pharmaceuticals, Inc filed this 8-K on April 15, 2025, reporting on events of April 11, 2025.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report
(Date of earliest event reported)
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
(Address of principal executive offices, including Zip Code)
(626 ) 304-3400
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
| Securities registered pursuant to Section 12(b) of the Act: | ||||||||||||||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Departure of Chief Financial Officer
On, April 9, 2025 Ken Myszkowski notified Arrowhead Pharmaceuticals, Inc. (the “Company”) of his decision to retire as Chief Financial Officer of the Company, effective as of May 13, 2025 (the “Effective Date”). Mr. Myszkowski has served as the Company’s Chief Financial Officer since 2009, and the Company extends its gratitude to Mr. Myszkowski for his years of service and contributions to the Company. Mr. Myszkowski’s decision to retire was not the result of any disagreement with the Company.
Following the Effective Date, Mr. Myszkowski will serve as an employee adviser and provide transition services, as requested by the Company, to facilitate an effective transition of his job responsibilities to his successor, until January 31, 2026 (the "Transition Period"). In consideration for such services, Mr. Myszkowski will receive (i) a base salary at an annual rate of $200,000 through the end of the Transition Period, subject to his continued employment, (ii) continued eligibility to participate in the Company’s medical, dental and life insurance benefit plans through the end of the Transition Period, subject to continued employment, and (iii) continued vesting of certain outstanding equity awards.
Appointment of Chief Financial Officer
On April 9, 2025, the Company determined that it would appoint Daniel Apel to serve as Chief Financial Officer of the Company, effective as of May 13, 2024, until the earliest of Mr. Apel's removal, termination, or resignation from such office.
Mr. Apel joins the company from Walgreens Boots Alliance, where he served as Global Head of Financial Planning and Analysis from 2019 through 2024. Prior to joining Walgreens Boots Alliance, he served in various roles at Bayer, a diversified global Healthcare, Crop Science and Consumer Health company, including most recently as Chief Financial Officer for Bayer in the U.S. from 2016 through 2019. Other significant roles in his nearly 20 year career at Bayer include Chief Financial Officer for Bayer Canada and Global Head of Accounting for the Bayer Healthcare Segment, based in Germany. He has served on the boards of the Biotechnology Innovation Organization (BIO) and the Organization for International Investment, and as a Trustee for the Health Institute of New Jersey. He earned a master's degree in Business Administration from the University of California, Berkeley, a bachelors of arts Degree from the University of Pennsylvania, and is a licensed Certified Public Accountant.
In connection with Mr. Apel’s appointment as Chief Financial Officer, Mr. Apel will receive an annual base salary of $575,00 and is eligible to receive an annual bonus with a target bonus set at 45% of his base salary for the applicable bonus period. In addition, Mr. Apel will receive a one-time grant of 100,000 restricted stock units (“RSUs”), which will vest annually over a four-year period, subject to Mr. Apel’s continued service to the Company on each vesting date. The Company may also provide $200,000 in Company-paid relocation benefits to Mr. Apel.
There are no arrangements or understandings between Mr. Apel and any other persons pursuant to which Mr. Apel was selected as Chief Financial Officer of the Company. There are no family relationships between Mr. Apel and any director or executive officer of the Company, and Mr. Apel has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K nor are any such transactions currently proposed.
A copy of the press release is attached as Exhibit 99.1 and incorporated by reference into this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | ||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: April 15 2025
| ARROWHEAD PHARMACEUTICALS, INC. | ||||||||
| By: | /s/ Kenneth Myszkowski | |||||||
| Kenneth Myszkowski | ||||||||
| Chief Financial Officer | ||||||||
EXHIBIT 99.1
PRESS RELEASE
Apr. 15, 2025
Arrowhead Pharmaceuticals Appoints Daniel Apel as Chief Financial Officer
PASADENA, Calif., Apr. 15, 2025 — Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) today announced that, effective May 13, 2025, Arrowhead’s Chief Financial Officer, Ken Myszkowski, will retire after 16 years of service to the company and will be succeeded by Daniel Apel, who has been appointed as the company’s new Chief Financial Officer. Mr. Myszkowski will continue to serve as an employee adviser to assist and facilitate an effective transition.
“Ken has been a valuable member of the Arrowhead team, and he retires at a time of great financial strength for the company. The finance organization that Ken built over the years is very capable and provides strong support to our ambitious development and commercialization plans. I want to thank him for all his important contributions to Arrowhead,” said Christopher Anzalone, Ph.D., President and CEO at Arrowhead. “I am also excited for Dan Apel to join Arrowhead as we make the transition from development stage to commercial stage, with the planned launch of plozasiran this year, pending regulatory review and approval. Dan is an accomplished pharmaceutical executive who can make an immediate and important impact on our business.”
Mr. Apel joins the company from Walgreens Boots Alliance, where he served as Global Head of Financial Planning and Analysis from 2019 through 2024. Prior to joining Walgreens, Mr. Apel served in various significant roles in his nearly 20-year career at Bayer, including as Chief Financial Officer for Bayer U.S. from 2016 through 2019 and as Chief Financial Officer for Bayer Canada and global Head of Accounting for the Bayer Healthcare Segment, based in Germany. Mr. Apel has served on the boards of the Biotechnology Innovation Organization (BIO) and the Organization for International Investment, as well as a Trustee for the Health Institute of New Jersey. Mr. Apel earned his Master’s degree in Business Administration from the University of California, Berkeley, a Bachelors of Arts Degree from the University of Pennsylvania, and is a licensed Certified Public Accountant.
About Arrowhead Pharmaceuticals
Arrowhead Pharmaceuticals develops medicines that treat intractable diseases by silencing the genes that cause them. Using a broad portfolio of RNA chemistries and efficient modes of delivery, Arrowhead therapies trigger the RNA interference mechanism to induce rapid, deep, and durable knockdown of target genes. RNA interference, or RNAi, is a mechanism present in living cells that inhibits the expression of a specific gene, thereby affecting the production of a specific protein. Arrowhead’s RNAi-based therapeutics leverage this natural pathway of gene silencing.
For more information, please visit www.arrowheadpharma.com, or follow us on X (formerly Twitter) at @ArrowheadPharma, LinkedIn, Facebook, and Instagram. To be added to the Company's email list and receive news directly, please visit http://ir.arrowheadpharma.com/email-alerts.
Safe Harbor Statement under the Private Securities Litigation Reform Act:
This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this release except for historical information may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “hope,” “intend,” “plan,” “project,” “could,” “estimate,” “continue,” “target,” “forecast” or “continue” or the negative of these words or other variations thereof or comparable terminology are intended to identify such forward-looking statements. In addition, any statements that refer to projections of our future financial performance, trends in our business, expectations for our product pipeline or product candidates, including anticipated regulatory submissions and clinical program results, prospects or benefits of our collaborations with other companies, or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements include, but are not limited to, statements about the initiation, timing, progress and results of our preclinical studies and clinical trials, and our research and development programs; our expectations regarding the potential benefits of the partnership, licensing and/or collaboration arrangements and other strategic arrangements and transactions we have entered into or may enter into in the future; our beliefs and expectations regarding milestone, royalty or other payments that could be due to or from third parties under existing agreements; and our estimates regarding future revenues, research and development expenses, capital requirements and payments to third parties. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of numerous factors and uncertainties, including the impact of the ongoing COVID-19 pandemic on our business, the safety and efficacy of our product candidates, decisions of regulatory authorities and the timing thereof, the duration and impact of regulatory delays in our clinical programs, our ability to finance our operations, the likelihood and timing of the receipt of future milestone and licensing fees, the future success of our scientific studies, our ability to successfully develop and commercialize drug candidates, the timing for starting and completing clinical trials, rapid technological change in our markets, the enforcement of our intellectual property rights, and the other risks and uncertainties described in our most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other documents filed with the Securities and Exchange Commission from time to time. We assume no obligation to update or revise forward-looking statements to reflect new events or circumstances.
Contacts:
Arrowhead Pharmaceuticals, Inc.
Vince Anzalone, CFA
626-304-3400
ir@arrowheadpharma.com
Investors:
LifeSci Advisors, LLC
Brian Ritchie
212-915-2578
britchie@lifesciadvisors.com
Media:
LifeSci Communications, LLC
Kendy Guarinoni, Ph.D.
724-910-9389
kguarinoni@lifescicomms.com
Source: Arrowhead Pharmaceuticals, Inc.
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