X0303 4 2011-07-07 0 0001013238 ARADIGM CORP ARDM 0001457518 First Eagle Value in Biotechnology Master Fund, Ltd. C/O FIRST EAGLE INVESTMENT MANAGEMENT 1345 AVENUE OF THE AMERICAS NEW YORK NY 10105 0 0 1 1 See Footnote below 0001459688 21 APRIL FUND LP C/O FIRST EAGLE INVESTMENT MANAGEMENT 1345 AVENUE OF THE AMERICAS NEW YORK NY 10105 0 0 1 1 See Footnote below 0001459708 21 APRIL FUND LTD C/O FIRST EAGLE INVESTMENT MANAGEMENT 1345 AVENUE OF THE AMERICAS NEW YORK NY 10105 0 0 1 1 See Footnote below 0001506964 DEF Associates LP C/O FIRST EAGLE INVESTMENT MANAGEMENT 1345 AVENUE OF THE AMERICAS NEW YORK NY 10105 0 0 1 1 See Footnote below 0001459975 DEF Associates N.V. C/O FIRST EAGLE INVESTMENT MANAGEMENT 1345 AVENUE OF THE AMERICAS NEW YORK NY 10105 0 0 1 1 See Footnote below Common Stock 2011-07-07 4 P 0 10625000 0.19 A 71357909 I See Footnote 1 Consists of 5,312,500 shares purchased by First Eagle Value in Biotechnology Master Fund, Ltd. ("FEVIBMF"), 1,000,000 shares purchased by 21 April Fund, LP ("21 April LP"), 2,718,750 shares purchased by 21 April Fund, Ltd. ("21 April Ltd."), 1,193,750 shares purchased by DEF Associates N.V. ("DEF Associates Offshore") and 400,000 shares purchased by DEF Associates LP ("DEF Associates Onshore" and, together with FEVIBMF, 21 April LP, 21 April Ltd. and DEF Associates Offshore, the "Funds"). The Funds may be deemed to be members of a Section 13(d) group owning more than 10% of the issuer's outstanding common stock. Each of the Funds disclaims Section 16 beneficial ownership of the reported securities, and this report shall not be deemed an admission that any such Fund is the beneficial owner of such securities, except to the extent of its pecuniary interest therein. /s/Dan DeClue 2011-07-11 /s/Dan DeClue 2011-07-11 /s/Dan DeClue 2011-07-11 /s/Dan DeClue 2011-07-11 /s/Dan DeClue 2011-07-11