Arrowhead Closes Underwritten Offering with Gross Proceeds of $120 Million
PASADENA, Calif. -- February 24, 2014
Arrowhead Research Corporation (NASDAQ: ARWR), a biopharmaceutical company
developing targeted RNAi therapeutics, today announced that on February 24,
2014 it closed the previously announced underwritten offering of 6,325,000
shares of common stock, which included shares issued upon the exercise in full
by the underwriters of their option to purchase 825,000 additional shares. The
offering was priced at $18.95 per share and the company received gross
proceeds of approximately $120 million, before deducting underwriting
discounts, commissions, and other offering expenses payable by the company.
Jefferies LLC, Barclays Capital Inc., and Deutsche Bank Securities acted as
joint book-runners for the offering. Piper Jaffray & Co. acted as lead manager
for the offering and Trout Capital acted as a financial advisor to the
About Arrowhead Research Corporation
Arrowhead Research Corporation is a biopharmaceutical company developing
targeted RNAi therapeutics. The company is leveraging its proprietary drug
delivery technologies to develop targeted drugs based on the RNA interference
mechanism that efficiently silence disease-causing genes. Arrowhead
technologies also enable partners to create peptide-drug conjugates that
specifically home to cell types of interest while sparing off-target tissues.
Arrowhead’s pipeline includes clinical programs in chronic hepatitis B virus
and partner-based programs in obesity and oncology.
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 email@example.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 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 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.
Arrowhead Research Corporation
Vince Anzalone, CFA, 626-304-3400
The Trout Group
Lauren Glaser, 646-378-2972
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