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Biotech / Medical : Biotech & Pharma.T.A,

BIB 79.76

-2.1%

Dec 30 4:00 PM EST

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To: Jibacoa who wrote (2891)	6/17/2010 4:54:50 PM
From: Jibacoa	1 Recommendation Read Replies (2) of 3722

I didn't watch the Webcast of the Annual Meeting on Wednesday and it is unavailable at ARWR's homepage.<g> But fortunately, I sold a good part of my holdings because of the stock price didn't act well after the meeting. Today the stock had a big dip and is still down 24.39% with volume close to 4M, almost 3x its ADV. bigcharts.marketwatch.com ARWR announced a registered offering to raise $8.65M through the sale of 6.6M shares of its common stock, and warrants to purchase another 3.3M million shares. The stock and warrants will be sold in units, at a price of $1.312 per unit, with each unit consisting of one share of common stock and a warrant to purchase one-half of one share of common stock. The closing is expected to take place on or about June22. The warrants have an exercise price of $1.65 and an exercise term of five years. They will be exercisable in 6 months. Of course, when people that invest several million dollars can buy the shares at $0.30 less than the current price or > a 20% discount, there is always a big temptation to sell short some shares.<g> The resistance is now from the $1,50 to the $1.60 level, and although I am still ahead on the shares I am still holding, I won't consider buying back the shares I sold until the stock can close above that resistance. But when the stock can go over that hurdle and with some good news, it will have plenty of room to run.<g> bigcharts.marketwatch.com ARWR is also scheduled to be added to the Russell Micro-Cap on Friday a week from tomorrow. Bernard

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