<SEC-DOCUMENT>0001552781-17-000019.txt : 20170113
<SEC-HEADER>0001552781-17-000019.hdr.sgml : 20170113
<ACCEPTANCE-DATETIME>20170113090027
ACCESSION NUMBER:		0001552781-17-000019
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20170113
DATE AS OF CHANGE:		20170113

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARROWHEAD PHARMACEUTICALS, INC.
		CENTRAL INDEX KEY:			0000879407
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				460408024
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-48710
		FILM NUMBER:		17526584

	BUSINESS ADDRESS:	
		STREET 1:		225 SOUTH LAKE AVENUE
		STREET 2:		SUITE 1050
		CITY:			PASADENA
		STATE:			CA
		ZIP:			91101
		BUSINESS PHONE:		626-304-3400

	MAIL ADDRESS:	
		STREET 1:		225 SOUTH LAKE AVENUE
		STREET 2:		SUITE 1050
		CITY:			PASADENA
		STATE:			CA
		ZIP:			91101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ARROWHEAD RESEARCH CORP
		DATE OF NAME CHANGE:	20040112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERACTIVE GROUP INC
		DATE OF NAME CHANGE:	20020509

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERACTIVE INC
		DATE OF NAME CHANGE:	19940224

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Silence Therapeutics plc
		CENTRAL INDEX KEY:			0001479615
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			X0

	FILING VALUES:
		FORM TYPE:		SC 13D

	BUSINESS ADDRESS:	
		STREET 1:		72 HAMMERSMITH ROAD
		CITY:			LONDON
		STATE:			X0
		ZIP:			W14 8TH
		BUSINESS PHONE:		44-0-20-3457 6900

	MAIL ADDRESS:	
		STREET 1:		72 HAMMERSMITH ROAD
		CITY:			LONDON
		STATE:			X0
		ZIP:			W14 8TH
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>e17015_sln-sc13d.htm
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<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">SCHEDULE 13D<BR>
<BR>
</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">Under the Securities Exchange Act of
1934 (Amendment No. __)<BR>
<BR>
</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Arrowhead Pharmaceuticals, Inc.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-top: 1pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt">(Name of Issuer)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Common Stock, par value $0.001 per share</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-top: 1pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt">(Title of Class of Securities)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>042797209</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-top: 1pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt">(CUSIP Number)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>David Ellam</B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Chief Financial Officer</B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Silence Therapeutics Plc </B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>72 Hammersmith Road</B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>London W14 8TH</B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>United Kingdom</B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>+44 (0)20 3457 6900</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-top: 1pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt">(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 0.25in; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>January 3, 2017</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-top: 1pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt">(Date of Event which Requires Filing of this Statement)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If the filing person has previously
filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule
because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box&nbsp;&nbsp;[ ].</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Note: Schedules filed in paper format
shall include a signed original and five copies of the schedule, including all exhibits. See 240.13d-7(b) for other parties to
whom copies are to be sent.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">*The remainder of this cover page shall
be filled out for a reporting person&rsquo;s initial filing on this form with respect to the subject class of securities, and for
any subsequent amendment containing information which would alter disclosures provided in a prior cover page.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The information required on the remainder
of this cover page shall not be deemed to be &ldquo;filed&rdquo; for the purpose of Section 18 of the Securities Exchange Act of
1934 (&ldquo;Act&rdquo;) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions
of the Act (however, see the Notes).</P>

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"></P>

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<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">SCHEDULE 13D</P>

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    <TD STYLE="vertical-align: top; width: 36%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 10pt; padding-bottom: 3pt; text-align: justify"><FONT STYLE="font-size: 13pt"><B>CUSIP No.</B></FONT></TD>
    <TD STYLE="width: 64%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>042797209</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 3pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 14pt"><B>1</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt">NAMES OF REPORTING PERSONS</FONT><BR>
<FONT STYLE="font-size: 7pt">I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 12pt">Silence Therapeutics Plc</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 14pt"><B>2</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 3pt 0 0 17.3pt; text-align: justify">(a)&nbsp;&nbsp;[&nbsp; ]</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 3pt 0 0 17.3pt; text-align: justify">(b)&nbsp;&nbsp;[&nbsp; ]</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 14pt"><B>3</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt">SEC USE ONLY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 14pt"><B>4</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt">SOURCE OF FUNDS (See Instructions)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 12pt">WC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 14pt"><B>5</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt">CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[&nbsp;&nbsp;&nbsp;]</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 14pt"><B>6</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt">CITIZENSHIP OR PLACE OF ORGANIZATION</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 12pt">England and Wales</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" ROWSPAN="8" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 7pt">NUMBER OF</FONT><BR>
<BR>
<FONT STYLE="font-size: 7pt">SHARES</FONT><BR>
<BR>
<FONT STYLE="font-size: 7pt">BENEFICIALLY</FONT><BR>
<BR>
<FONT STYLE="font-size: 7pt">OWNED BY</FONT><BR>
<BR>
<FONT STYLE="font-size: 7pt">EACH</FONT><BR>
<BR>
<FONT STYLE="font-size: 7pt">REPORTING</FONT><BR>
<BR>
<FONT STYLE="font-size: 7pt">PERSON</FONT><BR>
<BR>
<FONT STYLE="font-size: 7pt">WITH</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 14pt"><B>7</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt">SOLE VOTING POWER</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 12pt">6,831,359</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 14pt"><B>8</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt">SHARED VOTING POWER</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 12pt">None</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 14pt"><B>9</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt">SOLE DISPOSITIVE POWER</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 12pt">6,831,359</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 14pt"><B>10</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt">SHARED DISPOSITIVE POWER</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 12pt">None</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 14pt"><B>11</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 12pt">6,831,359</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 14pt"><B>12</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;[&nbsp;&nbsp;&nbsp;]</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 14pt"><B>13</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 12pt">9.21%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 14pt"><B>14</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt">TYPE OF REPORTING PERSON (See Instructions)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 12pt">OO</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 120px">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"></P>

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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in">Item 1.&#9;Security and Issuer</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">This Statement on Schedule 13D relates
to the common stock, par value $0.001 per share (the &ldquo;Common Stock&rdquo;) of Arrowhead Pharmaceuticals, Inc., a Delaware
corporation (the &ldquo;Issuer&rdquo;). The Issuer&rsquo;s principal executive offices are located at 225 S. Lake Avenue, Suite
1050, Pasadena, California 91101.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in">Item 2.&#9;Identity and Background</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">This Schedule 13D is being filed by Silence Therapeutics Plc (the &ldquo;Reporting Person&rdquo;).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The principal business address of the Reporting Person is 72 Hammersmith Road, London W14 8TH,
United Kingdom.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The Reporting Person is a biotechnology company focused on the discovery, delivery and development
of novel RNA therapeutics for the treatment of serious diseases with unmet medical need.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">During the five years prior to the date hereof, the Reporting Person has not been convicted in
a criminal proceeding.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">During the five years prior to the date hereof, the Reporting Person has not been a party to a
civil proceeding ending in a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding any violation with respect to such laws.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">The Reporting Person is a public limited company organized under the laws of England and Wales.</TD></TR></TABLE>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in">Item 3.&#9;Source and Amount of Funds
or Other Considerations</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The purchases of Common Stock reported
herein were made using funds from the working capital of the Reporting Person. A total of $11.3 million was paid to acquire the
6,831,359 shares of Common Stock.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in">Item 4.&#9;Purpose of Transaction</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Reporting Person has acquired the
Common Stock of the Issuer to which this Schedule 13D relates in order to facilitate discussions regarding a possible transaction
with the Issuer, which could include, but is not limited to, product licensing, R&amp;D collaboration, technology sharing or a
potential corporate transaction.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Reporting Person intends to review
its investment in the Issuer on a continuing basis. Depending on various factors, including, without limitation, the Issuer&rsquo;s
operating results, strategic direction and financial and competitive position, the trading price of the Common Stock, and general
economic, financial market and industry conditions, the Reporting Person may in the future take such actions with respect to the
Issuer as it deems appropriate, including, without limitation, acquiring additional Common Stock and/or other equity, debt, notes,
or other securities of the Issuer (collectively &ldquo;Securities&rdquo;) or disposing of some or all of the Securities beneficially
owned by it, in public markets or privately negotiated transactions; and engaging in discussions with members of management and
the board of directors of the Issuer or third parties regarding a variety of matters relating to the Issuer including strategic
alternatives available to the Issuer, which may involve transactions with the Reporting Person or others, including, but not limited
to, the transactions mentioned in the immediately preceding paragraph.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"></P>

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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in">Item 5.&#9;Interest in Securities
of the Issuer</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">As of January 13, 2017, the Reporting Person directly owns 6,831,359 shares of the Issuer&rsquo;s
Common Stock.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Reporting Person has sole voting and dispositive power with respect to the 6,831,359 shares
of the Issuer&rsquo;s Common Stock referred to in Item 5(a).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">During the 60 days prior to the date hereof, the Reporting Person effected the following transactions:</TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Date of Transaction</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Nature of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Transaction</B></P></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="border-top: black 1.5pt solid; border-bottom: black 1.5pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Quantity of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Shares</B></P></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-top: black 1.5pt solid; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="border-top: black 1.5pt solid; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Price per Share</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">January 12, 2017</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Open Market</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">300,000</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; padding-right: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">2.1528</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">January 11, 2017</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Open Market</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">250,000</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; padding-right: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">2.1815</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">January 10, 2017</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Open Market</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">275,000</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; padding-right: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">1.9411</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="width: 32%; border-left: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">January 6, 2017</FONT></TD>
    <TD STYLE="width: 31%; border-left: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Open Market</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; border-left: Black 1.5pt solid; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 12%; border-bottom: black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">1,516,876</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; border-left: Black 1.5pt solid; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 20%; border-bottom: black 1.5pt solid; border-right: black 1.5pt solid; padding-right: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">1.7658</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">January 4, 2017</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Open Market</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">630,000</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; padding-right: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">1.6805</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">January 3, 2017</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Open Market</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">359,483</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; padding-right: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">1.5913</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">December 30, 2016</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Open Market</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">809,745</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; padding-right: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">1.5819</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">December 29, 2016</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Open Market</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">844,647</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; padding-right: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">1.5867</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">December 28, 2016</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Open Market</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">318,816</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; padding-right: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">1.5133</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">December 27, 2016</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Open Market</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">536,656</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; padding-right: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">1.5019</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">December 23, 2016</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Open Market</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">366,493</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; padding-right: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">1.5176</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">December 22, 2016</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Open Market</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">500,000</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; padding-right: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">1.3152</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">December 21, 2016</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Open Market</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">123,643</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; padding-right: 5.65pt; text-align: right"><FONT STYLE="font-size: 10pt">1.2615</FONT></TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">No person other than the Reporting Person has the right to receive, or the power to direct the
receipt of, dividends from, or the proceeds from the sale of, the shares of Common Stock referred to in Item 5(a).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">Not applicable.</TD></TR></TABLE>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 12pt 0 0 45pt; text-indent: -45pt">Item 6.&#9;Contracts, Arrangements,
Understandings or Relationships with Respect to Securities of the Issuer</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">There are no contracts, arrangements,
understandings or relationships (legal or otherwise) between the Reporting Person and any other person with respect to the shares
of Common Stock referred to in Item 5(a).</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in">Item 7.&#9;Material to Be Filed as
Exhibits</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">None.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B></B></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>Signature</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">After reasonable inquiry and to the
best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt">January
    13, 2017</TD>
    <TD STYLE="width: 53%; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Dated</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">/s/ David Ellam</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Signature</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt">David Ellam, Chief
    Financial Officer</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Name/Title</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The original statement shall be signed
by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of
a person by his authorized representative (other than an executive officer or general partner of this filing person), evidence
of the representative&rsquo;s authority to sign on behalf of such person shall be filed with the statement, provided, however,
that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name
and any title of each person who signs the statement shall be typed or printed beneath his signature.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify"><B>Attention: Intentional misstatements
or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001).</B></P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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