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Chardan Downgrades and Slashes Price Target on Arrowhead Pharmaceuticals Inc (ARWR) Following RNAi Program Discontinuations

Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) are currently plummeting 62% in pre-market trading after yesterday’s announcement that the biotech firm has discontinued all of its clinical RNAi programs, from ARC-520 to ARC-521 to ARC-AAT. The decision arises on back of discussions with regulatory agencies and experts alike who believed there would be considerable delays in the EX-1 programs integral to the biotech firm’s RNAi programs as ARWR would have to investigate the cause of deaths in a non-clinical toxicology study revealed November 8th.

Instead, the firm will opt to switch research focus toward its subcutaneous (subQ) and extra-hepatic programs ARC-LPA, ARC-AMG1 (both partnered with unrated Amgen), ARC-F12, ARC-HIF2, and previously unannounced subcutaneous programs for chronic hepatitis B virus (HBV) and alpha-1...