Benitec Biopharma Ltd (BNTC)

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Arrowhead Lawsuit Re:HBV TRIAL DATA

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Hagens Berman Announces the Filing of a Class Action Lawsuit Against Arrowhead Research Corporation, Inc. (NASDAQ: ARWR)
SAN FRANCISCO—Nov. 4, 2014—Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, alerts investors that a class action lawsuit has been filed against Arrowhead Research Corporation (NASDAQ: ARWR) (“Arrowhead” or “the Company”). The suit is pending in U.S. District Court for the Central District of California and investors have until December 9, 2014 to move for lead plaintiff.

The complaint has been filed on behalf of investors who purchased or otherwise acquired Arrowhead Research Corporation securities between August 12, 2014 and October 8, 2014, inclusive (the “Class Period”). If your purchases fall in the Class Period, you may contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation, by calling [phone], emailing [e-mail] or visiting http://hb-securities.com/investigations/ARWR.

Arrowhead is a biopharmaceutical company, whose research focuses on RNA Interference (“RNAi”) therapies, including an experimental hepatitis B therapy called ARC-520. Throughout the Class Period, Defendants repeatedly suggested that ARC-520 was performing better in testing and was more effective than it actually was. On August 12, 2014, Defendants held their Q3 earnings call, and commented on the progress of the ARC-520 Phase IIa study. On that call, Defendants hinted at the successes of the Phase IIa study, and indicated that the drug was achieving high viral reduction results in human testing.

Yet the truth was revealed on October 8, 2014 when Arrowhead announced the final results of the Phase IIa study which showed that the test results for ARC-520 fell well short of what Defendants suggested in August. On this news, Arrowhead’s stock price fell $5.48 per share, or almost 44%, to close at $7.03 per share on October 8, 2014.

“There is a fine line between optimism and deceit,” said Mr. Kathrein. “The way Defendants presented their Phase IIa study in August crossed that line, and investors were misled and suffered losses as a result.”