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Company Withdraws Two Proposals From 2009 Notice and Proxy Statement
Arrowhead Research Corporation (Nasdaq: ARWR) announced today that Dr. Christopher Anzalone, Arrowhead's Chief Executive Officer and President, will present the Company's strategic plan and objectives for 2009 at 10:30 a.m. PT on March 26, 2009, following the scheduled Annual Meeting of Shareholders ("the Meeting").
The presentation, followed by a question and answer period, will be webcast live beginning at 10:30 a.m. PT. Audio and video replay will be available approximately three hours after the conclusion of the Meeting for those unable to attend the live webcast. Information on how to access the webcast will be posted on Arrowhead's website by Monday, March 23 at arrowres.com/meeting2009.html.
The Company also announced that it had withdrawn two proposals - Proposal 3 and Proposal 4 - contained in its 2009 Notice and Proxy Statement, filed with the SEC on February 18, 2009, from consideration for approval at its 2009 Meeting. The Proposals sought to amend the Company's 2004 Equity Incentive Plan to allow a one-time option repricing program, without further stockholder approval. The Proposals were withdrawn following further deliberation by the Company's Board of Directors, management and with shareholders.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties. For example, there can be no assurance that we will be able to maintain our listing on any NASDAQ market, that our financial initiatives will succeed in strengthening our balance sheet or that we will be able to continue to operate as a going concern. Arrowhead Research Corporation's Annual Report on Form 10-K and 10-K/A, recent and forthcoming Quarterly Reports on Form 10-Q and 10-Q/A, recent Current Reports on Forms 8-K and 8-K/A, our Registration Statements on Form S-3, and other SEC filings discuss these and other important risk factors that may affect our business, results of operations and financial condition. We disclaim any intent to revise or update publicly any forward-looking statements.
About Arrowhead Research Corporation
Arrowhead Research Corporation (www.arrowheadresearch.com) (NASDAQ: ARWR) is a nanotechnology company commercializing new technologies in the areas of life sciences, electronics, and energy. Arrowhead is seeking to build value for shareholders through the progress of majority owned subsidiaries. Currently, Arrowhead has four subsidiaries commercializing nanotech products and applications and minority investments in two privately held nanobiotech companies.
President & CEO
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