ARROWHEAD PHARMACEUTICALS, INC. — Director's Dealing 2009

Aug 19, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROWHEAD RESEARCH CORP (ARWR)
CIK: 0000879407
Period of Report: 2009-07-17

Reporting Person: FRYKMAN EDWARD W (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-07-17	Stock Option	$2.52	J	50000	Disposed	2016-05-25	Common Stock (50000)	Direct
2009-07-17	Stock Option	$5.02	J	10000	Disposed	2016-02-23	Common Stock (10000)	Direct
2009-07-17	Stock Option	$5.24	J	25000	Disposed	2016-05-26	Common Stock (25000)	Direct
2009-07-17	Stock Option	$3.93	J	20000	Disposed	2017-02-22	Common Stock (20000)	Direct
2009-07-17	Stock Option	$2.55	J	20000	Disposed	2018-03-13	Common Stock (20000)	Direct

Footnotes

F1: Voluntary termination of out-of-the-money options to allow for sufficient available shares for issuance in a financing transaction.