PASADENA, Calif. - Arrowhead Pharmaceuticals, Inc. (NASDAQ: NASDAQ:ARWR) has successfully closed its stock offering, raising approximately $450 million in gross proceeds, the company announced today. The offering involved 15,790,000 shares of common stock priced at $28.50 each.
The transaction, which was completed on Friday, was managed by a team of bookrunners including Jefferies, BofA Securities, and TD Cowen, with Piper Sandler and RBC Capital Markets serving as capital markets advisors. Arrowhead stated that the net proceeds from the offering would be directed towards research and development initiatives, as well as general corporate expenses and working capital requirements.
Arrowhead Pharmaceuticals is known for its focus on developing RNA interference (RNAi) therapeutics. These drugs aim to treat diseases by silencing the genes responsible for them, offering a novel approach to tackling conditions that have traditionally been difficult to treat.
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