Arrowhead +15% on funding deal, initial hepatitis drug data

|About: Arrowhead Pharmaceuticals (ARWR)|By:, SA News Editor

Arrowhead Research (ARWR +15.2%) jumps to 52-week highs after pricing a $60M private placement of stock at $5.86 - matching yesterday's closing price - clearing the way for the biotech company focused on genetic therapeutics to move ahead with another trial of its ARC-520 drug candidate to treat chronic hepatitis B virus infection.

ARWR also says it will move ahead with Phase IIa efficacy testing of ARC-520 after initial data from Phase I testing showed it was generally safe and well tolerated.