Arrowhead Pharmaceuticals Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Arrowhead Pharmaceuticals (NASDAQ: ARWR) has announced the approval of inducement grants for 34 new employees by its Board of Directors on October 11, 2024. These grants, made under NASDAQ Listing Rule 5635(c)(4), are outside the company's stockholder-approved equity incentive plans and collectively allow the new employees to receive up to 66,750 restricted stock units. The grants are designed to vest annually over a four-year period, serving as an incentive for the new hires to join the company.

Positive

• Arrowhead Pharmaceuticals is expanding its workforce with 34 new employees
• The company is offering competitive compensation packages to attract talent

Negative

• The issuance of new restricted stock units may lead to potential shareholder dilution

PASADENA, Calif.--(BUSINESS WIRE)-- Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) today announced that as an inducement to entering into employment with the Company, on October 11, 2024, the Company’s Board of Directors approved “inducement” grants to 34 new employees under Rule 5635(c)(4) of the NASDAQ Listing Rules. The grants entitle employees, in aggregate, to receive up to 66,750 restricted stock units. The grants are outside the Company’s stockholder-approved equity incentive plans and vest annually over 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.

For more information, please visit www.arrowheadpharma.com, or follow us on X (formerly Twitter) at @ArrowheadPharma or on LinkedIn. To be added to the Company's email list and receive news directly, please visit http://ir.arrowheadpharma.com/email-alerts.

Safe Harbor Statement under the Private Securities Litigation Reform Act:

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this release except for historical information may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “hope,” “intend,” “plan,” “project,” “could,” “estimate,” “continue,” “target,” “forecast” or “continue” or the negative of these words or other variations thereof or comparable terminology are intended to identify such forward-looking statements. In addition, any statements that refer to projections of our future financial performance, trends in our business, expectations for our product pipeline or product candidates, including anticipated regulatory submissions and clinical program results, prospects or benefits of our collaborations with other companies, or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements include, but are not limited to, statements about the initiation, timing, progress and results of our preclinical studies and clinical trials, and our research and development programs; our expectations regarding the potential benefits of the partnership, licensing and/or collaboration arrangements and other strategic arrangements and transactions we have entered into or may enter into in the future; our beliefs and expectations regarding milestone, royalty or other payments that could be due to or from third parties under existing agreements; and our estimates regarding future revenues, research and development expenses, capital requirements and payments to third parties. 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 numerous factors and uncertainties, including the impact of the ongoing COVID-19 pandemic on our business, the safety and efficacy of our product candidates, decisions of regulatory authorities and the timing thereof, the duration and impact of regulatory delays in our clinical programs, our ability to finance our operations, the likelihood and timing of the receipt of future milestone and licensing fees, the future success of our scientific studies, our ability to successfully develop and commercialize drug candidates, the timing for starting and completing clinical trials, rapid technological change in our markets, the enforcement of our intellectual property rights, and the other risks and uncertainties described in our most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other documents filed with the Securities and Exchange Commission from time to time. We assume no obligation to update or revise forward-looking statements to reflect new events or circumstances.

Source: Arrowhead Pharmaceuticals, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241014205541/en/

Arrowhead Pharmaceuticals, Inc.

Vince Anzalone, CFA

626-304-3400

ir@arrowheadpharma.com

Investors:

LifeSci Advisors, LLC

Brian Ritchie

212-915-2578

britchie@lifesciadvisors.com

Media:

LifeSci Communications, LLC

Kendy Guarinoni, Ph.D.

724-910-9389

kguarinoni@lifescicomms.com

Source: Arrowhead Pharmaceuticals, Inc.

FAQ

How many new employees received inducement grants from Arrowhead Pharmaceuticals (ARWR)?

Arrowhead Pharmaceuticals (ARWR) approved inducement grants for 34 new employees.

What is the total number of restricted stock units granted by Arrowhead Pharmaceuticals (ARWR) in this announcement?

Arrowhead Pharmaceuticals (ARWR) granted up to 66,750 restricted stock units in total to the new employees.

When did Arrowhead Pharmaceuticals (ARWR) approve these inducement grants?

Arrowhead Pharmaceuticals (ARWR) approved these inducement grants on October 11, 2024.

What is the vesting schedule for the restricted stock units granted by Arrowhead Pharmaceuticals (ARWR)?

The restricted stock units granted by Arrowhead Pharmaceuticals (ARWR) vest annually over a four-year period.