Arrowhead Research Corporation
 
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PRESS RELEASE
July 10, 2009
 

Arrowhead announces CFO Transition


Pasadena, CA — Arrowhead Research Corporation (NASDAQ: ARWR) today announced that Paul McDonnel, the Company’s Chief Financial Officer, intends to resign as the Company’s Chief Financial Officer in order pursue another opportunity out of the state. Mr. McDonnel has agreed to serve as Chief Financial Officer of the Company at least until August 10, 2009 in order to assist with the Company’s next quarterly report and the quarterly earnings conference call.  On July 6, 2009, Joseph T. Kingsley, Arrowhead’s former President and Chief Financial Officer, was named Vice President of Finance and Accounting and will assist the Company with executive and financial management until a permanent replacement is hired.


“We thank Paul for his contributions to the company and are pleased that he will be staying on part time through our quarterly reporting cycle and as needed as a consultant,” said Dr. Christopher Anzalone, Arrowhead's President and Chief Executive Officer.  “During this transition, we are delighted to report that Mr. Kingsley will rejoin the Company. He has a long history with Arrowhead and we welcome his expertise.”

 




About Arrowhead Research Corporation

Arrowhead Research Corporation (www.arrowheadresearch.com) (NASDAQ: ARWR) is a nanotechnology company commercializing new technologies in the areas of life sciences, electronics, and energy. Arrowhead is seeking to build value for shareholders through the progress of majority owned subsidiaries. Currently, Arrowhead has four subsidiaries commercializing nanotech products and applications and minority investments in two privately held nanobiotech companies.

 


Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the recent economic slowdown affecting technology companies, the future success of our scientific studies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10-K and 10-K/A, recent and forthcoming Quarterly Reports on Form 10-Q and 10-Q/A, recent Current Reports on Forms 8-K and 8-K/A, our Registration Statement on Form S-3, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.