ARTICLE | Finance
Arrowhead fills its quiver
Why RNAi play Arrowhead did not shoot for the moon with a private placement
August 22, 2016 7:00 AM UTC
Faced with an eroding cash position and a host of near-term clinical milestones, Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR) opted to tap investors for just enough money to get through 2017. After that, the RNAi company hopes it will have positive data with which to revisit the equity markets.
On Aug. 9 the company raised $45 million in a private placement of 7.6 million shares at its Aug. 8 closing price of $5.90. OrbiMed Advisors, RA Capital, Perceptive Advisors and RTW Investments participated, as did undisclosed investors. ...