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Arrowhead Gaining On Successful Clinical Trial - Update

Shares of biotechnology company Arrowhead Research Corp. (ARWR) have gained as much as 116% during Monday's morning session on news that a clinical trial by the company's subsidiary Calando Pharmaceuticals, Inc. demonstrated systemic delivery of small interfering RNA and the successful 'silencing' of cancer gene via RNA interference in humans.

Arrowhead shares, which touched a year-long high of $1.27 with a volume of 723 thousand shares, have now eased to $1.17. Total share volume has jumped to 12.09 million, compared to the average volume of 85 thousand.

Arrowhead said the clinical trial represents a breakthrough for Calando, its proprietary Rondel delivery system, and the field of RNAi. The company also said it is the first ever demonstration in humans of targeted siRNA-containing nanoparticle delivery to tumors using systemic administration, delivery of functional siRNAs, and achievement of specific mRNA and protein reductions via RNAi.

Dr. Christopher Anzalone, chief executive officer of Arrowhead said, " "This breakthrough evidence provides important validation for siRNA-based therapeutics in general, as well as for our proprietary RONDEL delivery system, and for our lead siRNA therapeutic candidate, CALAA-01."

ARWR is currently gaining $0.63 or 116.67%, and is trading at $1.17 on a volume of 12.09 million shares on Nasdaq. In the past 52 weeks, the stock traded in a broad range of $0.31 to $1.28, with an average volume of 85 thousand shares.

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