Arrowhead Added to Powershares Lux Nanotech Exchange Traded Fund
PASADENA, California – (BUSINESS WIRE) – Jan. 10, 2006 – Arrowhead Research Corp. (Nasdaq:ARWR), a diversified nanotechnology company, announced today that it has been selected for inclusion in the Powershares Lux Nanotech Portfolio (AMEX:PXN). The PowerShares exchange traded fund (ETF) is based on the Lux Nanotech Index(TM) and is intended to track a group of leading publicly-traded companies involved in developing and manufacturing nanotechnology.
"The Lux Nanotech Index aims to be comprehensive for nanotech specialists, including all firms that meet our eligibility criteria for market valuation, trading volume, and listing on a major U.S. exchange. Arrowhead now meets these criteria," stated Matthew M. Nordan, co-chair of the Index selection committee, in the firm's press release.
"We are pleased to be included among this exclusive list of companies developing nanotechnology and that, of the 26 companies included on the Index, Arrowhead currently has the highest weighting based upon its recent performance," stated Dr. Leon Ekchian, President of Arrowhead.
About ETFs
Exchange-traded funds (ETFs) are baskets of securities designed to replicate the performance of a stock or bond index (e.g., Dow Jones Industrial Average, S&P 500). ETFs are listed on an exchange and can be traded intra-day at a price set by the market. ETFs are designed to add the flexibility, ease, and liquidity of stock trading to the benefits of traditional index fund investing.
About Arrowhead Research Corporation
Arrowhead Research Corporation (www.arrowheadresearch.com) is a publicly-traded nanotechnology company commercializing new technologies in the areas of life sciences, electronics, and energy. Arrowhead is building value for shareholders through the progress of majority owned subsidiaries founded on nanotechnologies originally developed at universities. The company works closely with universities to source early stage deals and to generate rights to intellectual property covering promising new nanotechnologies. Currently, Arrowhead has four subsidiaries commercializing nanotech products and applications, including anti-cancer drugs, RNAi therapeutics, carbon-based electronics and compound semiconductor materials.
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.
Contacts
Virginia Dadey; Vice President, Investor Relations
Telephone: 212.541.3707
Email: vdadey@arrowres.com