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Arrowhead Closes Underwritten Offering with Gross Proceeds of $120 Million


PASADENA, Calif.-(BUSINESS WIRE)- 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 Company.

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 ir@arrowres.com.

Source: firstwordpharma.com

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