UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Arrowhead Research Corporation
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(Name of Issuer)
Common Stock, $0.001 par value
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(Title of Class of Securities)
042797100
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(CUSIP Number)
December 31, 2006
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[ ]Rule 13d-1(c)
[ ]Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 6 Pages
CUSIP No. 042797100 13G
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1) NAMES OF REPORTING PERSONS JGD Management Corp.
IRS IDENTIFICATION NO. OF
ABOVE PERSONS (ENTITIES ONLY) EIN: 13-3633324
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [ ]
(b) [X]
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3) SEC USE ONLY
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4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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NUMBER OF 5) SOLE VOTING POWER 5,150,786
SHARES ----------------------------------------------------------
BENEFICIALLY 6) SHARED VOTING POWER -0-
OWNED BY ----------------------------------------------------------
EACH 7) SOLE DISPOSITIVE POWER 5,150,786
REPORTING ----------------------------------------------------------
PERSON WITH 8) SHARED DISPOSITIVE POWER -0-
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9) AGGREGATE AMOUNT BENEFICIALLY OWNED 5,150,786
BY EACH REPORTING PERSON
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10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (SEE INSTRUCTIONS) [ ]
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11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
Approximately 14.6%
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12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO
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Page 2 of 6 Pages
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Item 1(a). Name of Issuer: Arrowhead Research Corporation
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Item 1(b). Address of Issuer's Principal Executive Offices:
201 S. Lake Avenue, Suite 703
Pasadena, California 91101
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Item 2(a). Name of Person Filing:
This Schedule is being filed by JGD Management Corp.
("JGD"), a Delaware corporation, with respect to:
(i) 964,822 shares of Common Stock (which consist of (a)
769,985 shares of Common Stock and (b) warrants to
purchase 194,837 shares of Common Stock) directly owned by
York Capital Management, L.P. ("York Capital"), a Delaware
limited partnership; and
(ii) 4,185,964 shares of Common Stock (which consist of
(a) 3,340,444 shares of Common Stock and (b) warrants to
purchase 845,520 shares of Common Stock) directly owned by
York Investment Limited ("York Investment"), a corporation
of the Commonwealth of The Bahamas.
The general partner of York Capital and the manager of
York Investment have delegated certain management and
administrative duties of such funds to JGD. Accordingly,
JGD may be deemed to have beneficial ownership over the
shares of Common Stock reported in this Schedule.
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Item 2(b). Address of Principal Business Office or, if None,
Residence:
The principal business office address of JGD is:
c/o York Capital Management
767 Fifth Avenue
17th Floor
New York, New York 10153
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Item 2(c). Citizenship:
The place of organization of JGD is Delaware.
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Item 2(d). Title of Class of Securities: Common Stock, $0.001
par value
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Page 3 of 6 Pages
Item 2(e). CUSIP Number: 042797100
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Item 3. If this statement is filed pursuant to Rules 13d-1(b),
or 13d-2(b) or (c), check whether the person
filing is a:
(a) [ ] Broker or dealer registered under section 15 of the Act
(15 U.S.C.78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C.
78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the
Act (15 U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C 80a-8).
(e) [X] An investment adviser in accordance with
ss.240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance
with ss.240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance
with ss.240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with ss.240.13d-1 (b)(1)(ii)(J).
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Item 4. Ownership.
Provide the following information regarding the aggregate
number and percentage of the class of securities of the
issuer identified in Item 1.
(a) Amount beneficially owned: 5,150,786
(b) Percent of class: 14.6%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 5,150,786
(ii) Shared power to vote or to direct the vote -0-
(iii) Sole power to dispose or to direct the disposition of
5,150,786
(iv) Shared power to dispose or to direct the disposition of
-0-
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The number of shares beneficially owned and the percentage of
outstanding shares represented thereby for JGD have been computed in accordance
with Rule 13d-3 under the Securities Exchange Act of 1934, as amended. The
percentage of ownership described above is based on an aggregate of 35,243,984
shares of Common Stock, which consists of (i) 34,203,627 shares of Common Stock
outstanding as of December 11, 2006, as reported in the issuer's Annual Report
on Form 10-K filed with the Securities and Exchange Commission on December 14,
2006, and (ii) the number of shares of Common Stock issuable to JGD if JGD were
to exercise all of its warrants to purchase shares of Common Stock.
Page 4 of 6 Pages
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that
as of the date hereof the reporting person has ceased to
be the beneficial owner of more than five percent of the
class of securities, check the following [ ].
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Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
The right to receive dividends from, or the proceeds from
the sale of, all shares of Common Stock reported in this
statement as beneficially owned by JGD is held by York
Capital or York Investment, as the case may be, both of
which are the advisory clients of JGD. JGD itself
disclaims beneficial ownership of all shares of Common
Stock reported in this statement pursuant to Rule 13d-4
under the Securities Exchange Act of 1934, as amended.
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Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on
by the Parent Holding Company.
Not Applicable.
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Item 8. Identification and Classification of Members of the Group.
Not Applicable.
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Item 9. Notice of Dissolution of Group.
Not Applicable.
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Page 5 of 6 Pages
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Item 10. Certification.
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were acquired and are
held in the ordinary course of business and were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.
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SIGNATURE
After reasonable inquiry and to the best of the knowledge and belief of
the undersigned Reporting Person, the undersigned Reporting Person certifies
that the information set forth in this statement with respect to it is true,
complete and correct.
Dated: February 14, 2007
JGD MANAGEMENT CORP.
By: /s/ Adam J. Semler
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Adam J. Semler
Chief Financial Officer
Page 6 of 6 Pages