Arrowhead Regains Nasdaq Compliance

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Arrowhead Research Corp. on Wednesday said it has received notification that the company has regained the minimum stockholders’ equity requirement to remain listed on the Nasdaq Capital Market.

The Pasadena nanotechnology holding company owns or has holdings in health care and technology companies that involve manipulation of tiny nanoparticles, many of them start-ups with little to no revenue. It has cut expenses and recently completed a private placement that raised gross proceeds of $2.76 million.

Nasdaq Capital Markets required a minimum $2.5 million in stockholders’ equity requirement for continued listing.

The company this week reported a much smaller third quarter net loss to $2.5 million (-6 cents per share) with revenue way up to $2.6 million due to a licensing payment for its Calando Pharmaceuticals subsidiary’s experimental cancer drug IT-101.

“Several recent accomplishments have considerably strengthened our balance sheet, including a recent partnership for Calando and a successful financing for Arrowhead,” Chief Executive Christopher Anzalone said in a statement.

Shares were up 1 cent, or 2 percent, to 44 cents in midday trading Wednesday.

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