MOUNTAIN VIEW, Calif., Jan. 29 /PRNewswire/ -- Aviron (Nasdaq: AVIR) today
announced that it has sold 161,060 shares of its common stock, registered
under its Registration Statement on Form S-3 (No. 333-52028), to Acqua
Wellington North American Equities Fund, Ltd. (Acqua Wellington) for an
aggregate price of $8,000,000, or $49.67 per share.
The purchase price was determined based on the volume weighted average
market price for an 11-day trading period that ended on January 23, 2001. The
company did not pay any fees or other compensation in connection with this
transaction.
In January 2000, Acqua Wellington committed up to $48 million in equity
financing to Aviron. In June 2000, Acqua Wellington increased its commitment
to $84 million. The $8 million financing announced today is the final
transaction under this $84 million commitment.
Net proceeds from the sale will be used to fund operating costs, capital
expenditures and working capital needs, which may include costs of FluMist(TM)
regulatory filings and the manufacturing and commercialization of FluMist(TM)
in its current formulation; development of a second-generation formulation of
FluMist(TM), research and development of other pipeline products; development
of the infrastructure necessary to support these activities; and other general
corporate purposes. FluMist(TM) is Aviron's investigational intranasal
influenza vaccine.
Aviron is a biopharmaceutical company based in Mountain View, California
focused on the prevention of disease through innovative vaccine technology.
Actual results may differ materially from the forward-looking statements
contained in this release. Factors that could cause actual results to differ
include, but are not limited to, failure of clinical trials to demonstrate
safety and efficacy, inability to manufacture the company's vaccines and
assessment by regulatory agencies that the company's license applications for
its vaccines are incomplete or inadequate to approve the product for marketing
to one or more target populations. Additional information concerning factors
that could cause such a difference is contained in Aviron's SEC filings,
including its Registration Statements on Form S-3 and Annual Report on Form
10-K for the year ended December 31, 1999.
To receive an index and copies of recent press releases, call Aviron's
News-On-Call toll-free fax service, 800-758-5804, extension 114000.
Additional information about the company can be found at
http://www.aviron.com.
SOURCE Aviron
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Related links:
http://www.aviron.com
Company News On-Call:
http://www.prnewswire.com/comp/114000.html or fax,
800-758-5804, ext. 114000
CONTACT:
press, John Bluth, 650-919-3716, or Asha
Jennings, 650-919-1429, both of Aviron; or Camela Stuby of
Fleishman-Hillard, 212-453-2000, for Aviron; or investors, John
Bluth, 650-919-3716, or Asha Jennings, 650-919-1429, or Fred
Kurland, 650-919-6666, all of Aviron
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