Arrowhead Pharmaceuticals Reports Inducement Grants under NASDAQ

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Arrowhead Pharmaceuticals Reports Inducement Grants under NASDAQ Marketplace Rule 5635(c)(4)
Sep 21, 2018 at 4:00 PM EDT
PASADENA, Calif. --(BUSINESS WIRE)--Sep. 21, 2018-- Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR) today announced that as an inducement to entering into employment with the Company, on September 14, 2018 , the Board of Directors approved "inducement" grants to nine new employees under Rule

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PASADENA, Calif.--(BUSINESS WIRE)--Sep. 21, 2018-- Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR) today announced that as an inducement to entering into employment with the Company, on September 14, 2018, the Board of Directors approved "inducement" grants to nine new employees under Rule 5635(c)(4) of the NASDAQ Marketplace Rules. The option grants entitle the employees, in aggregate, to purchase up to 104,000 shares of common stock. The strike price of options is set at an exercise price per share of $18.91, the last reported closing price of the Company's common stock on September 14, 2018, the date of grant, except for certain shares which will be priced at the last reported closing price of the Company’s common stock on the date of hire of five new employees, anticipated to be within 30 days of the date of the approval. The grants are outside of the Company's stockholder-approved equity incentive plans. The options vest and become exercisable over a period of four years.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals develops medicines that treat intractable diseases by silencing the genes that cause them. Using a broad portfolio of RNA chemistries and efficient modes of delivery, Arrowhead therapies trigger the RNA interference mechanism to induce rapid, deep, and durable knockdown of target genes. RNA interference, or RNAi, is a mechanism present in living cells that inhibits the expression of a specific gene, thereby affecting the production of a specific protein. Arrowhead’s RNAi-based therapeutics leverage this natural pathway of gene silencing.

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