Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR), a provider of RNAi-based therapeutics that silence genes, disclosed on Monday that it plans to issue and sell 4,000,000 shares of its common stock in an underwritten offering under its existing automatic shelf registration statement.

The company added that it plans to provide the underwriters with a 30-day option to purchase up to an additional 600,000 shares of its common stock.

Net proceeds from this planned offering may be used by the company for general corporate purposes, working capital, capital expenditures, research and development, clinical trial expenditures and the acquisition of complementary businesses, products and technologies, or for other strategic purposes.

Subject to market conditions, there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering. Goldman Sachs & Co LLC, Jefferies LLC and Piper Jaffray & Co are acting as bookrunning managers for the offering.