Glancy Binkow & Goldberg LLP, representing investors of Arrowhead Research Corporation (“Arrowhead” or the “Company”) (NASDAQ:ARWR), has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of a class (the “Class”) comprising purchasers of Arrowhead common stock between August 12, 2014 and October 8, 2014, inclusive (the “Class Period”). Please contact Casey Sadler at (888) 773-9224 or (310) 201-9150, or at email@example.com to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased. Arrowhead is a biopharmaceutical company engaged in the development of RNA Interference (“RNAi”) therapeutics that will suppress disease-causing genes. The Company’s RNAi therapeutic ARC-520 targets the hepatitis B virus for treating chronic hepatitis B. ARC-520 is crucial to Arrowhead’s business, and currently being tested for its effectiveness in using RNAi to halt the production of hepatitis B genes, which will reduce the number of infectious hepatitis B particles. The Complaint alleges that defendants made false and/or misleading statements and failed to disclose material adverse facts about the Company’s operations and financial prospects. Specifically, defendants misrepresented the true viral reduction level that ARC-520 can induce in humans, and failed to disclose that data from the Phase IIa study of ARC-520 did not support their assertions concerning the drug’s ability to induce a certain reduction level of hepatitis B surface antigens in humans. On October 8, 2014, the Company announced the results of its Phase IIa study, revealing that ARC-520 dosed at 2 mg/kg only induced a reduction in hepatitis B surface antigens far short of the levels defendants previously suggested. Following this news, the Company’s stock dropped $5.48 per share, or almost 44% below its previous closing price, to close at $7.03 per share on October 8, 2014, on extraordinary volume.
If you are a member of the Class described above, you may move the Court no later than December 9, 2014, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.