07 Jan 2017

Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) today responded to the announcement by Silence Therapeutics plc that it acquired, in the open-market, an equity stake of 6,000,359 Arrowhead shares, representing 8.4% of the common shares outstanding. Arrowhead was advised of this just prior to the announcement by Silence.
There have been no discussions about any potential transaction between the two companies. Arrowhead's plans to develop its RNAi-based drug candidates ARO-HBV, ARO-AAT, ARO-F12, ARO-HIF2, ARO-LPA, ARO-AMG1, and other undisclosed programs, are unchanged and unaffected by this announcement. The company will also continue to seek partnerships and collaborations that maximize the value of its assets, as such opportunities may arise in the future.

Arrowhead president and CEO, Chris Anzalone, remarked, "We remain focused on advancing our programs in a way that maximizes stockholder value. While we welcome Silence as a stockholder, its recently announced stake in Arrowhead does not change our focus or strategic plans in any way."