PASADENA, Calif.--(BUSINESS WIRE)--Arrowhead Research Corporation (NASDAQ:ARWR) today announced that it has raised approximately $3.2 million in gross proceeds from a private placement of approximately 5.0 million units. Units were sold for $0.634 each, $0.125 higher than the $0.509 closing bid price of the Company’s common stock on the NASDAQ Stock Market on December 11, 2009, the date of the sale. Each unit consisted of one share of newly issued common stock and one warrant to purchase an additional share of common stock at an exercise price of $0.509 per share.
