HAYWARD, Calif.--(BUSINESS WIRE)--Aradigm Corporation (OTCBB: ARDM) (“Aradigm”) announced today that it has entered into a definitive agreement with an investor to sell 4,000,000 shares of its common stock for gross proceeds of $400,000, before deducting placement agent fees and estimated offering expenses, in a “registered direct” offering. This offering is in addition to the offering Aradigm announced on February 23, 2009, relating to the sale of approximately 41 million shares of common stock for gross proceeds of approximately $4.1 million. The investor has agreed to purchase the shares of common stock at a negotiated purchase price of $0.10 per share.
