Arrowhead Receives Additional 180-Day Grace
Period to Comply with the NASDAQ $1.00
Minimum Bid Requirement
March 18, 2010 04:18 PM Eastern Daylight Time
PASADENA, Calif.--(EON: Enhanced Online News)--Arrowhead Research Corporation (NASDAQ:
ARWR) today announced that, on March 16, 2010, it received a notification from the NASDAQ Stock Market
indicating that the Company will have an additional 180-day grace period, until September 13, 2010, to regain
compliance with NASDAQ’s $1.00 minimum bid requirement. In accordance with NASDAQ Marketplace Rule
5810(c)(3)(A), the Company is eligible for the additional grace period because it meets the initial listing requirements
for the NASDAQ Capital Market except for the bid price. The notification indicated that the Company did not
regain compliance during the initial 180-day grace period provided under the rule. The Company’s common stock
will continue to trade on the NASDAQ Capital Market during the 180-day period.
The Company can regain compliance by maintaining a minimum closing bid price of $1.00 per share for 10
consecutive business days. If Arrowhead does not meet the minimum bid requirement during the 180-day grace
period, NASDAQ will provide written notification to the Company that its common stock will be subject to delisting.
At that time, the Company can ask NASDAQ for a hearing to present a plan to regain compliance.
“This extension provides us with another six months to further our business, technical and organizational milestones,
which we believe will lead to a higher market value of our stock, in line with NASDAQ’s requirements,” said Chris
Anzalone, Arrowhead’s President and CEO.
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 and electronics. Arrowhead is seeking to
build value for shareholders through the progress of its subsidiaries and investments. Currently, Arrowhead