Arrowhead Research Corporation (NASDAQ:ARWR) today announced that, on June 7, 2011, it received a notification from the NASDAQ Stock Market indicating that the Company will have an additional 180-day grace period, until December 5, 2011 to regain compliance with NASDAQ’s $1.00 minimum bid requirement. The notification indicated that the Company did not regain compliance during the initial 180-day grace period provided under the rule. 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 and provided written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary.
