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Arrowhead Research Corporation (NASDAQ: ARWR) today announced that it has received notification from the NASDAQ Stock Market that the Company has regained compliance with the minimum of $2.5 million in stockholders' equity requirement for continued listing on the NASDAQ Capital Market, pursuant to NASDAQ Marketplace Rule 4310(c)(3).
"Several recent accomplishments have considerably strengthened our balance sheet, including a recent partnership for Calando and a successful financing for Arrowhead," said Dr. Christopher Anzalone, Arrowhead's President and Chief Executive Officer. "We believe these accomplishments and our revised plan of operations to control costs while maximizing our nearest-term opportunities, have positioned us for a successful fiscal 2010."
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.
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 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.
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