Arrowhead names investors in $45M private placement

On Friday, Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR) said OrbiMed, RA Capital, Perceptive Advisors and RTW Investments were among the institutional investors in a private placement the company priced Tuesday before market hours. Arrowhead raised $45 million through the sale of 7.6 million shares at $5.90, the company's Monday closing price. Cantor Fitzgerald was the placement agent.

Arrowhead's most advanced program is ARC-520, which is in Phase II testing for HBV infection. The therapy is short interfering RNAs targeting two regions of the HBV genome conjugated to N-acetylgalactosamine-polymer and cholesterol ligands using Arrowhead's Dynamic Polyconjugate delivery system. ...