Arrowhead Pharma Gains 6%, Prices $450 Mln Offering Of Shares

(RTTNews) - Arrowhead Pharmaceuticals, Inc. (ARWR) shares were gaining more than 6 percent on Wednesday after pricing of approximately 15.8 million shares at $28.50 per share to raise nearly $450 million.

Currently, Arrowhead's stock is climbing 6.06%, to $32.89 on a volume of 2,724,368 on the Nasdaq. It had traded between $20.67 and $42.48 in the past 52-week period.

The company said that it intends to use the proceeds for general corporate expenses, research and development, and working capital purposes.

The offering will close on January 5.

Jefferies, BofA Securities and TD Cowen act as book-runners for this offering.