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Biotech / Medical : Arrowhead Resarch

ARWR 64.96

-1.1%

3:59 PM EST

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From: Glenn Petersen	11/21/2011 8:33:49 PM
	of 172

Arrowhead has completed its one-for-ten reverse split: Arrowhead Implements Reverse Stock Split By Deborah Crowe Los Angeles Business Journal Wednesday, November 16, 2011 Pasadena nanotech company Arrowhead Research Corp. late Wednesday said it carried out a 1-for-10 reverse stock split of common stock that had been earlier approved by its board and shareholders. Trading on a post-split basis will begin Thursday morning. The reverse split decreases the number of shares outstanding to about 10.5 million from roughly 105 million. The shares available under the company’s equity-based plans also will be proportionately reduced. The reverse split is designed to increase the stock’s per-share price and help meet the listing requirements of Nasdaq, which has sent the company several delisting warnings. Arrowhead is a holding company that owns and has stakes in companies developing treatments in oncology, obesity, and regenerative medicine. A nanotech approach to medicine frequently employs the use of tiny particles or molecules to improve the effectiveness of drugs and other treatments. Shares earlier closed down 4 cents, or 6.5 percent, to 65 cents on the Nasdaq. labusinessjournal.com

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