Arrowhead Research (ARWR -9.7%) says it is unencumbered in its efforts to develop its HBV drug candidate ARC-520. It has broad access to the IP necessary to develop the product and has no restrictions on its freedom to operate. The company signed a license agreement with Alnylam (ALNY) in January 2012 for HBV-related IP plus it owns other patents related to the drug's technology. It believes that ARC-520 does not infringe on any patents in Alnylam's McSwiggen patent estate.
ARWR shares took it on the chin today due to the market's perception that ALNY's HBV patents may be a issue for ARWR.