<SEC-DOCUMENT>0001535610-13-000037.txt : 20130513
<SEC-HEADER>0001535610-13-000037.hdr.sgml : 20130513
<ACCEPTANCE-DATETIME>20130513163249
ACCESSION NUMBER:		0001535610-13-000037
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20130513
DATE AS OF CHANGE:		20130513

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARROWHEAD RESEARCH CORP
		CENTRAL INDEX KEY:			0000879407
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731]
		IRS NUMBER:				460408024
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-48710
		FILM NUMBER:		13837784

	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:	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:			SABBY MANAGEMENT, LLC
		CENTRAL INDEX KEY:			0001535610
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		10 MOUNTAINVIEW ROAD
		STREET 2:		SUITE 205
		CITY:			UPPER SADDLE RIVER
		STATE:			NJ
		ZIP:			07458
		BUSINESS PHONE:		646-307-4527

	MAIL ADDRESS:	
		STREET 1:		10 MOUNTAINVIEW ROAD
		STREET 2:		SUITE 205
		CITY:			UPPER SADDLE RIVER
		STATE:			NJ
		ZIP:			07458
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>arwr0313.txt
<DESCRIPTION>SABBY 13G ARWR 03.13.13
<TEXT>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. _______)*


Arrowhead Research Corporation
(Name of Issuer)


Common Stock
(Title of Class of Securities)


042797 10 0
(CUSIP Number)


May 3, 2013
(Date of Event Which Requires Filing of this Statement)


       Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:
[_]  Rule 13d-1(b)

[X]  Rule 13d-1(c)

[_]  Rule 13d-1(d)

__________
       *The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the subject
class of securities, and for any subsequent amendment containing
information which would alter the disclosures provided in a prior cover
page.
       The information required in the remainder of this cover page shall
not be deemed to be filed for the purpose of Section 18 of the Securities
Exchange Act of 1934 (Act) 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).
?
CUSIP No.
042797 10 0


1.
NAME OF REPORTING PERSONS


Sabby Healthcare Volatility Master Fund, Ltd.


2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)


(a)  [_]


(b)  [X]


3.
SEC USE ONLY


4.
CITIZENSHIP OR PLACE OF ORGANIZATION


Cayman Islands


NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH


5.
SOLE VOTING POWER


0


6.
SHARED VOTING POWER


 2,188,792


7.
SOLE DISPOSITIVE POWER


0


8.
SHARED DISPOSITIVE POWER


 2,188,792


9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON


 2,188,792


10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS)


[_]


11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)


6.99


12.
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

              CO?
CUSIP No.
042797 10 0


1.
NAME OF REPORTING PERSONS


Sabby Management, LLC


2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)


(a)  [_]


(b)  [X]


3.
SEC USE ONLY


4.
CITIZENSHIP OR PLACE OF ORGANIZATION


Delaware, USA


NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH


5.
SOLE VOTING POWER


0


6.
SHARED VOTING POWER


  2,188,792


7.
SOLE DISPOSITIVE POWER


0


8.
SHARED DISPOSITIVE POWER


  2,188,792


9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON


  2,188,792


10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)


[_]


11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)


6.99


12.
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

              OO
CUSIP No.
042797 10 0


1.
NAME OF REPORTING PERSONS


Hal Mintz


2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)


(a)  [_]


(b)  [X]


3.
SEC USE ONLY


4.
CITIZENSHIP OR PLACE OF ORGANIZATION


USA


NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH


5.
SOLE VOTING POWER


0


6.
SHARED VOTING POWER


  2,188,792


7.
SOLE DISPOSITIVE POWER


0


8.
SHARED DISPOSITIVE POWER


  2,188,792


9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON


  2,188,792


10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS)


[_]


11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)


6.99


12.
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

              IN?

CUSIP No.
042797 10 0


Item 1.
(a).
Name of Issuer:


Arrowhead Research Corporation


(b).
Address of issuer's principal executive offices:


225 South Lake Avenue, Suite 1050, Pasadena, California 91101


Item 2.
(a).
Name of person filing:


Sabby Healthcare Volatility Master Fund, Ltd.
Sabby Management, LLC
Hal Mintz


(b).
Address or principal business office or, if none, residence:


Sabby Healthcare Volatility Master Fund, Ltd.
c/o Ogier Fiduciary Services (Cayman) Limited
89 Nexus Way, Camana Bay
Grand Cayman KY1-9007
Cayman Islands

Sabby Management, LLC
10 Mountainview Road, Suite 205
Upper Saddle River, New Jersey 07458

Hal Mintz
c/o Sabby Management, LLC
10 Mountainview Road, Suite 205
Upper Saddle River, New Jersey 07458


(c).
Citizenship:


Sabby Healthcare Volatility Master Fund, Ltd. - Cayman Islands
Sabby Management, LLC - Delaware, USA
Hal Mintz - USA


(d).
Title of class of securities:


Common stock (the Common Stock), par value $0.001


(e).
CUSIP No.:


042797 10 0


Item 3.
If This Statement is filed pursuant to Section 240.13d-1(b) or 40.13d-2(b),
or (c), check whether the person filing is a


(a)
[_]
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).


(b)
[_]
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).


(c)
[_]
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).


(d)
[_]
Investment company registered under section 8 of the Investment Company Act
of 1940 (15 U.S.C. 80a-8).


(e)
[_]
An investment adviser in accordance with Section 240.13d-1(b)(1)(ii)(E);


(f)
[_]
An employee benefit plan or endowment fund in accordance with Section
240.13d-1(b)(1)(ii)(F);


(g)
[_]
A parent holding company or control person in accordance with Section
240.13d-1(b)(1)(ii)(G);


(h)
[_]
A savings association as defined in Section 3(b) of the Federal Deposit
Insurance Act (12 U.S.C.1813);


(i)
[_]
A church plan that is excluded from the definition of an investment company
under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C.
80a-3);


(j)
[_]
A non-U.S. institution in accordance with Section 240.13d-1(b)(1)(ii)(J);


(k)
[_]
Group, in accordance with Section 240.13d-1(b)(1)(ii)(K).  If filing as a
non-U.S. institution in accordance with Section 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:


Item 4.
Ownership.


Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.


(a)
Amount beneficially owned:

Sabby Healthcare Volatility Master Fund, Ltd. -  2,188,792

Sabby Management, LLC -   2,188,792

Hal Mintz -   2,188,792


(b)
Percent of class:

Sabby Healthcare Volatility Master Fund, Ltd. - 6.99%

Sabby Management, LLC - 6.99%

Hal Mintz - 6.99%


(c)
Number of shares as to which the person has:


Sabby Healthcare Volatility Master Fund, Ltd.


(i)
Sole power to vote or to direct the vote
0
,


(ii)
Shared power to vote or to direct the vote
 2,188,792
,


(iii)
Sole power to dispose or to direct the disposition of
0
,


(iv)
Shared power to dispose or to direct the disposition of
 2,188,792
..


Sabby Management, LLC


(i)
Sole power to vote or to direct the vote
0
,


(ii)
Shared power to vote or to direct the vote
  2,188,792
,


(iii)
Sole power to dispose or to direct the disposition of
0
,


(iv)
Shared power to dispose or to direct the disposition of
  2,188,792
..


Hal Mintz


(i)
Sole power to vote or to direct the vote
0
,


(ii)
Shared power to vote or to direct the vote
  2,188,792
,


(iii)
Sole power to dispose or to direct the disposition of
0
,


(iv)
Shared power to dispose or to direct the disposition of
  2,188,792
..


As calculated in accordance with Rule 13d-3 of the Securities Exchange Act
of 1934, as amended, (i) Sabby Healthcare Volatility Master Fund, Ltd.
beneficially owns  2,188,792 shares of the Issuer's common stock (Common
Stock), respectively,representing approximately 6.99% f the Common Stock,
and (ii) Sabby Management, LLC and Hal Mintz each beneficially own
2,188,792  shares of the Common Stock,representing approximately 6.99% of
the Common Stock. Sabby Management, LLC and Hal Mintz do not directly own
any shares of Common Stock, but each indirectly owns 2,188,792 shares of
Common Stock. Sabby Management, LLC, a Delaware limited liability company,
indirectly owns 2,188,792 shares of Common Stock because it serves as the
investment manager of Sabby Healthcare Volatility Master Fund, Ltd., a
Cayman Islands company Mr. Mintz indirectly owns 2,188,792 shares of
Common Stock in his capacity as manager of Sabby Management, LLC.


Item 5.
Ownership of Five Percent or Less of a Class.


If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following  [_].


?
Item 6.
Ownership of More Than Five Percent on Behalf of Another Person.


Not applicable


Item 7.
Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company or Control Person.


Not applicable


Item 8.
Identification and Classification of Members of the Group.


Not applicable


Item 9.
Notice of Dissolution of Group.


Not applicable


?
Item 10.
Certification.


By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that
purpose or effect.


?
SIGNATURE

       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.

March 13, 2013

(Date)


Sabby Healthcare Volatility Master Fund, Ltd.

By: /s/ Joseph McIvor
     Name:  Joseph McIvor
     Title:   Authorized Person of TDF Management
Ltd.,    a Director


Sabby Management, LLC*

By: /s/ Robert Grundstein
	Name:  Robert Grundstein
       Title:   Chief Operating Officer


/s/ Hal Mintz*
 Hal Mintz

*This Reporting Person disclaims beneficial ownership over the securities
reported herein except to the extent of its pecuniary interest therein.

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 the filing person, evidence of the
representative'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.

Note.  Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See s.240.13d-7 for
other parties for whom copies are to be sent.

Attention.  Intentional misstatements or omissions of fact constitute
Federal criminal violations (see 18 U.S.C. 1001).

EXHIBIT 1
----------

JOINT FILING AGREEMENT

       The undersigned hereby agree that this Statement on Schedule 13G
with respect to the beneficial ownership of shares of Common Stock of
Arrowhead Research Corporation  is filed jointly, on behalf of each of
them.

Dated:  March 13, 2013

Sabby Healthcare Volatility Master Fund, Ltd.

By: /s/ Joseph McIvor
     Name:  Joseph McIvor
     Title:   Authorized Person of TDF Management
Ltd.,    a Director


Sabby Management, LLC

By: /s/ Robert Grundstein
	Name:  Robert Grundstein
       Title:   Chief Operating Officer


/s/ Hal Mintz
 Hal Mintz


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>