PASADENA, Calif. --(BUSINESS WIRE)-- Arrowhead Pharmaceuticals Inc. ( NASDAQ : ARWR) today announced that it closed a previously announced private offering with a select group of investors including Orbimed, RA Capital Management , Perceptive Advisors , RTW Investments and certain other
PASADENA, Calif.--(BUSINESS WIRE)--
Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR) today announced that it
closed a previously announced private offering with a select group of
investors including Orbimed, RA Capital Management, Perceptive Advisors,
RTW Investments and certain other institutional investors. Gross
proceeds were $45 million. Approximately 7.63 million shares of common
stock were issued at a price of $5.90 per share.
Cantor Fitzgerald & Co. acted as sole placement agent for the private
offering. Trout Capital LLC and Chardan Capital Markets LLC acted as
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
offer, solicitation or sale of these securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
The securities sold in the private placement have not been registered
under the Securities Act of 1933, as amended (the "Securities Act"), or
any state or other jurisdiction's securities laws, and may not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the
Securities Act and applicable state or other jurisdictions' securities
laws. The Company has agreed to file a registration statement with the
Securities and Exchange Commission registering the resale of the shares
of common stock issued and sold in the private placement.
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. The company's pipeline includes ARC-520 and ARC-521 for
chronic hepatitis B virus infection, ARC-AAT for liver disease
associated with alpha-1 antitrypsin deficiency, ARC-F12 for hereditary
angioedema and thromboembolic disorders, ARC-LPA for cardiovascular
disease, and ARC-HIF2 for renal cell carcinoma.
For more information please visit www.arrowheadpharma.com,
or follow us on Twitter @ArrowheadPharma.
To be added to the Company's email list and receive news directly,
please visit http://ir.arrowheadpharma.com/alerts.cfm.
Safe Harbor Statement under the Private Securities Litigation Reform
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. Our 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.
DYNAMIC POLYCONJUGATES is a trademark of Arrowhead
Source: Arrowhead Pharmaceuticals, Inc.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160812005250/en/
Arrowhead Pharmaceuticals, Inc.
Vince Anzalone, CFA
The Trout Group
Matt Middleman, M.D.
Source: Arrowhead Pharmaceuticals, Inc.
News Provided by Acquire Media