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ARCA biopharma, Inc. Announces Reverse Stock Split



  ARCA biopharma, Inc. Announces Reverse Stock Split

Business Wire

BROOMFIELD, Colo. -- March 5, 2013

ARCA biopharma, Inc. (Nasdaq: ABIO), a biopharmaceutical company developing
genetically-targeted therapies for atrial fibrillation, heart failure and
other cardiovascular diseases, today announced a 6-for-1 reverse split of its
common stock. The reverse stock split became effective on March 4, 2013 at
5:01 p.m. Eastern Time, and ARCA’s common stock will continue trading on The
NASDAQ Capital Market, on a split-adjusted basis, when the market opens on
Tuesday, March 5, 2013.

At the effective time of the reverse stock split, every six shares of ARCA’s
issued and outstanding common stock converted automatically into one issued
and outstanding share of common stock, without any change in the par value per
share. The reverse stock split reduced the number of shares of ARCA’s issued
and outstanding common stock from approximately 19.1 million shares to
approximately 3.2 million shares. In addition, the reverse stock split
effected a proportionate adjustment to the per share exercise price and the
number of shares issuable upon the exercise or settlement of all outstanding
options and warrants to purchase shares of ARCA’s common stock, and the number
of shares reserved for issuance pursuant to ARCA’s existing stock option plans
were reduced proportionately. No fractional shares will be issued as a result
of the reverse stock split, and stockholders who otherwise would be entitled
to a fractional share will receive, in lieu thereof, a cash payment based on
the closing sale price of ARCA’s common stock as reported today on the NASDAQ
Capital Market. ARCA’s transfer agent will provide instructions to
stockholders regarding the process for exchanging shares. Additional
information regarding the reverse stock split can be found in ARCA’s
definitive proxy statement filed with the Securities and Exchange Commission
on February 1, 2013.

The purpose of the reverse stock split is to raise the per share trading price
of ARCA’s common stock to regain compliance with the $1.00 per share minimum
bid price requirement for continued listing on The NASDAQ Capital Market. As
previously disclosed, in order to maintain ARCA’s listing on The NASDAQ
Capital Market, the common stock must have a minimum closing bid price of
$1.00 per share for a minimum of ten consecutive trading days prior to April
9, 2013. There can be no assurance that ARCA will regain compliance with the
minimum bid price requirement.

About ARCA biopharma

ARCA biopharma is dedicated to developing genetically-targeted therapies for
cardiovascular diseases. The Company's lead product candidate, Gencaro^TM
(bucindolol hydrochloride), is an investigational, pharmacologically unique
beta-blocker and mild vasodilator being developed for atrial fibrillation.
ARCA has identified common genetic variations that it believes predict
individual patient response to Gencaro, giving it the potential to be the
first genetically-targeted atrial fibrillation prevention treatment. ARCA has
a collaboration with the Laboratory Corporation of America (LabCorp), under
which LabCorp has developed a companion genetic test for Gencaro. For more
information please visit www.arcabiopharma.com.

Safe Harbor Statement

This press release and the associated presentation may contain
"forward-looking statements" for purposes of the safe harbor provided by the
Private Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, statements regarding genetic variations to predict
individual patient response to Gencaro, Gencaro’s potential to treat atrial
fibrillation, future treatment options for patients with atrial fibrillation,
the potential for Gencaro to be the first genetically-targeted atrial
fibrillation prevention treatment, and ARCA’s ability to regain compliance
with NASDAQ Capital Market minimum bid price. Such statements are based on
management's current expectations and involve risks and uncertainties. Actual
results and performance could differ materially from those projected in the
forward-looking statements as a result of many factors, including, without
limitation, the risks and uncertainties associated with: the Company's
financial resources and whether they will be sufficient to meet the Company's
business objectives and operational requirements; results of earlier clinical
trials may not be confirmed in future trials, the protection and market
exclusivity provided by the Company’s intellectual property; risks related to
the drug discovery and the regulatory approval process; the impact of
competitive products and technological changes; and the impact of the reverse
split on ARCA’s continuing share price. These and other factors are identified
and described in more detail in ARCA’s filings with the SEC, including without
limitation the Company’s annual report on Form 10-K for the year ended
December 31, 2011 and subsequent filings. The Company disclaims any intent or
obligation to update these forward-looking statements.

Contact:

ARCA biopharma, Inc.
Christopher D. Ozeroff, 720-940-2100
Senior Vice President and General Counsel
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