EXHIBIT 31.1

                            SECTION 302 CERTIFICATION

I, R. Bruce Stewart, certify that:

     1.   I  have  reviewed  this  Quarterly  Report on Form 10-QSB of Arrowhead
Research  Corporation;

     2.   Based  on  my  knowledge,  this  Quarterly Report does not contain any
untrue  statement  of a material fact or omit to state a material fact necessary
to  make  the  statements  made,  in light of the circumstances under which such
statements  were made, not misleading with respect to the period covered by this
Quarterly  Report;

     3.   Based  on  my  knowledge,  the  financial  statements,  and  other
financial  information  included in this Quarterly Report, fairly present in all
material  respects the financial condition, results of operations and cash flows
of  the  registrant  as  of,  and  for,  the periods presented in this Quarterly
Report;

     4.   The  registrant's  other  certifying  officers  and  I are responsible
for  establishing and maintaining disclosure controls and procedures (as defined
in  Exchange Act Rules 13a-15(e) and 15d-15(e)), for the registrant and we have:

          (a)  designed  such disclosure controls and procedures, or caused such
disclosure  controls  and  procedures  to  be designed under our supervision, to
ensure  that  material  information  relating  to  the registrant, including its
consolidated  subsidiaries, is made known to us by others within those entities,
particularly during the period in which this Quarterly Report is being prepared;

          (b)  evaluated  the  effectiveness  of  the  registrant's  disclosure
controls  and  procedures and presented in this Quarterly Report our conclusions
about  the effectiveness of the disclosure controls and procedures as of the end
of  the  period  covered  by  this  report  based  on  such  evaluation;  and

          (c)  disclosed in this Quarterly Report any change in the registrant's
internal  control over financial reporting that occurred during the registrant's
most  recent  fiscal quarter (the registrant's fourth fiscal quarter in the case
of  an  annual  report) that has materially affected, or is reasonably likely to
materially  affect,  the registrant's internal control over financial reporting;
and

     5.   The  registrant's  other  certifying  officers  and  I have disclosed,
based  on  our  most  recent  evaluation  of  internal  control  over  financial
reporting,  to the registrant's auditors and the audit committee of registrant's
board  of  directors  (or  persons  performing  the  equivalent  functions):

          (a)  all  significant  deficiencies  in  the  design  or  operation of
internal  controls  over  financial  reporting  which  are  reasonably likely to
adversely  affect  the  registrant's  ability  to record, process, summarize and
report  financial  information;  and

          (b)  any  fraud,  whether or not material, that involves management or
other employees who have a significant role in the registrant's internal control
over  financial  reporting.



Date:  May 14, 2004
                               R. BRUCE STEWART
                               -----------------------
                               R. Bruce Stewart, President
                               Chief executive, financial and accounting officer