Arrowhead Pharma planning stock offering

Arrowhead Pharmaceuticals is looking to raise $45 million through a private stock offering.

The California-based company has significant Madison operations and will sell 7.63 million shares of common stock for $5.90 per share. The proceeds will help fund upcoming clinical trials on two drugs it is developing, one for treating chronic Hepatitis B, and another to treat Alpha-1 antitrypsin deficiency, a rare disease that can affect the lungs and liver.

The stock offering is expected to close August 12.