Boston, MA 10/01/2013 (wallstreetpr) – Arrowhead Research Corp (NASDAQ:ARWR) has staged a remarkable rally on the browsers last week. It gained more than 18.5% in the week. It shed some of the gains during trading on September 30. It slid by close to 5.59% from its September 27 closing price of $6.05. In spite of the sudden spike and fall in its valuation, the company stock has seen an impressive 180% growth in market value over the past 90 days.
It has a market capitalization of $148 million with fledging sales of $0.3 million. It has shares outstanding of 2.13 million with analyst’s consensus target of $6.5 per share over the next quarter. Over the past 12 months trailing period, ARDR has close to $22 million of accumulated loss.
On September 19, the company internally promoted one of its star researchers David Lewis, Ph.D., to the post of Chief Scientific Officer. Dr. Lewis is expected to lead from the front in further enhancing the discovery and pre-clinical development of new target drugs.
Dr. Lewis comes with extensive experience in the field of nucleic acid delivery. He played a major role in inventing the proprietary delivery procedure “Dynamic Polyconjugate”. He has led successful drug discovery cycles in the past. He was instrumental in the quick development of ARWR target drug ARC 520 which is slated to be a block buster in the making to treat hepatitis B.
On September 3, the company issued a total of 1 million new common stock valued at $4.26 per share. These common shares would be used for executive incentive payouts which get announced after the fiscal year end on September 30.
ARDR is a speciality nano-medicine research and development company. It is engaged in development drugs and cures which seamlessly integrate biology and the latest advancements in nano-engineering to identify remedies to treat human ailments. Currently the firm’s focus is centred on identifying cures for cancer and obesity.