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Arrowhead Prices $36 Million Private Offering

  Arrowhead Prices $36 Million Private Offering

Business Wire

PASADENA, Calif. -- April 29, 2013

Arrowhead Research Corporation (NASDAQ: ARWR), a targeted therapeutics
company, today announced that it has priced a private offering with gross
proceeds expected to be $36 million. The offering was priced at $1.83 per
common share.

Approximately 14.3 million shares of common stock and 9,900 shares of series B
convertible preferred stock are expected to be issued at closing. The series B
preferred shares are priced at $1,000 per share, are convertible into shares
of common stock at a conversion price of $1.83 per share of common stock and
include no dividends or liquidation preferences. The offering is expected to
close on or about May 3, 2013, subject to the satisfaction of customary
closing conditions.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy these securities, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the securities
laws of any such jurisdiction.

The securities sold in the private placement have not been registered under
the Securities Act of 1933, as amended, or state securities laws and may not
be offered or sold in the United States absent registration with the
Securities and Exchange Commission (SEC) or an applicable exemption from such
registration requirements. The Company has agreed to file a registration
statement with the SEC registering the resale of the shares of common stock
and the shares of common stock issuable upon conversion of the series B
preferred.

About Arrowhead Research Corporation

Arrowhead Research Corporation is a clinical stage targeted therapeutics
company with development programs in oncology, obesity, and chronic hepatitis
B virus infection. The company is leveraging its platform technologies to
design and develop peptide-drug conjugates (PDCs) that specifically home to
cell types of interest while sparing off-target tissues, create targeted drugs
based on the gene silencing RNA interference (RNAi) mechanism, and work with
partners to create improved versions of traditional small molecule drugs.

For more information please visit http://www.arrowheadresearch.com, or follow
us on Twitter @ArrowRes. To be added to the Company's email list to receive
news directly, please send an email to ir@arrowres.com

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. These statements are based upon our current expectations and speak
only as of the date hereof. Our actual results and the results of the offering
described in this news release may differ materially and adversely from those
expressed in any forward-looking statements as a result of various factors and
uncertainties, including our ability to sell the securities in the offering
described in this news release, to finance our operations, the future success
of our scientific studies, our ability to successfully develop drug
candidates, the timing for starting and completing clinical trials, rapid
technological change in our markets, and the enforcement of our intellectual
property rights. Arrowhead Research Corporation's most recent Annual Report on
Form 10-K and subsequent Quarterly Reports on Form 10-Q discuss some of the
important risk factors that may affect our business, results of operations and
financial condition. We assume no obligation to update or revise
forward-looking statements to reflect new events or circumstances.

Contact:

Arrowhead Research Corporation
Vince Anzalone, CFA
626-304-3400
or
The Trout Group
Lauren Glaser
646-378-2972
ir@arrowres.com
 
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