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This compares with a net loss attributable to Arrowhead of $1.8 million, or $0.25 per share based on 7,182,628 weighted average shares outstanding, for the quarter ended June 30, 2011. The Company's net cash used in ope- rations for the first nine months of fiscal 2012 was $10.8 million, compared with $6.0 million for the first nine months of fiscal 2011. During fiscal 2012 third quarter the Company e.g. presented data for its Dynamic PolyConjugate(TM) (DPC) delivery platform for siRNA delivery inclu- ding its RNAi therapeutic candidate for the treatment of hepatitis B virus (HBV) at six scientific conferences, and completed all internal preclinical requirements and named a clinical candidate, ARC-520, for its HBV program. Arrowhead also announced the publication of a new study in the Journal of the American Diabetes Association demonstrating rapid improvement in pro-diabetic metabolic markers with its anti-obesity drug candidate, Adipotide(R), the dosing of the first patient in a Phase 1 clinical trial with the antiobesity drug candidate Adipotide(R) dosed additional patients in a Phase 1b study of CALAA-01.
Arrowhead Research Corporation has also entered into a securities purchase agreement with institutional and individual investors to raise gross proceeds of approximately $6.2 million. The placement con- sisted of the sale of 2.3 million shares of its common stock, and warrants to purchase 1.7 million shares of common stock. The stock and warrants will be sold in units, at a price of $2.76 per unit, with each unit consisting of one share of common stock and a war- rant to purchase 0.75 shares of common stock.
Arrowhead Research also entered into an agreement with Merck, through a subsidiary, to undertake an evaluation of a novel proprietary therapeutic mono-clonal antibody candidate derived from Arrowhead’s human-derived peptide targeting and discovery program. Arrowhead acquired this program through its purchase of Alvos Therapeutics in April 2012. Merck will bear the costs involved in evaluating the candidate.
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As part of its ongoing expansion, Asylum Research has appointed ATSL, Advanced Technological Solutions Ltd., as its exclusive distributor in Israel. ATSL managers have served nanotechnology and surface science markets in Israel for over 11 years and offer sales, service and technical support across the country. Asylum Research is a technology leader in atomic force and scanning probe microscopy (AFM/ SPM) for both materials and bioscience applications.
Over the last few months, BASF has taken several strategic decisions to further strengthen its position in materials for high-performance batteries. Through acquisition of the US companies Ovonic Battery Company and Novolyte Technologies, purchase of Merck's electrolyte activities, conclusion of a license agreement to acquire the lithium iron phosphate technology (LFP) with the LiFePO4+C Licensing AG and participation in Sion Power, BASF has further improved its technology base and global market access for battery materials. Research and development activities have also been stepped up. “Most materials in lithium-ion batteries of the kind currently used in electric or hybrid cars are based