Arrowhead Research Corporation (NASDAQ: ARWR)
Arrowhead Research Corporation (ARWR), a biopharmaceutical company today announced that it nominated its drug ARC-HIF2 as its first therapeutic candidate using new Dynamic Polyconjugate delivery system targeting tissues outside the liver.
Arrowhead Research Corporation CEO’s Comments
“Preclinical data using our new extrahepatic DPC™ delivery system has been very promising. We think the ability to target tissues outside of the liver, including tumors, opens additional opportunities for Arrowhead to develop differentiated RNAi-therapeutics that address numerous diseases without adequate treatment options,” said Christopher Anzalone, Ph.D., Arrowhead’s president and chief executive officer. “This is an important milestone for Arrowhead and we look forward to continued development of the DPC™ delivery platform and product candidates based on it.” Business Wire
ARWR Technical Analysis
On Friday, ARWR gapped up in price to $6.00 up from the prior days close of $5.72 ,which is a 5% increase in price based on favorable news. Taking a look at the daily chart we can see the last time the stock traded above this price level was back on August 7 when it traded at $6.11. Two days prior to that date on Aug 5 the stock traded at $6.77. Since that date the stock has tanked all the way down to $4.35 on August 24 which is the 52 week low for the stock. As we can see the stock has been very volatile in the past month. The stock did reach pre market highs of $6.50 which means that it gave back $0.50 at the open which is equivalent to 8%. This is a bit concerning that it gave back that much as it shows the stock may be overextended at this price level. For trading purposes my entry point will be $6.10 (which was the last pre market spike up price) looking for a run to the pre market highs of $6.50. My stop loss would be the gap up price of $6.00 fearing anything below that and the stock will start to fill in the gap up.
Arrowhead Research Corporation develops novel drugs to treat intractable diseases in the United States. The companys principal product candidates comprise ARC-520, an RNAi-based therapeutic that is in Phase IIa clinical trial to treat chronic hepatitis B virus infection; and ARC-AAT, a novel unlocked nucleobase analog containing RNAi-based therapeutic for the treatment of liver disease associated with alpha-1 antitrypsin deficiency. Its platform technology include Dynamic Polyconjugate platform, an RNAi delivery system that addresses multiple organ systems and cell types. The company is also involved in the development of Adipotide, which is in phase I clinical trial for the treatment of obesity and metabolic disorders; and CRLX-101 that is in phase II clinical trial to treat various cancer types, including relapsed renal cell carcinoma, relapsed ovarian cancer, and non-metastatic rectal cancer. It has research collaboration and license agreement with Shire AG to develop and commercialize targeted peptide-drug conjugates. The company was formerly known as InterActive Group, Inc. Arrowhead Research Corporation was incorporated in 1989 and is headquartered in Pasadena, California. Yahoo Finance