Acqua Wellington Increases Overall Commitment to $84 Million
MOUNTAIN VIEW, Calif., June 12 /PRNewswire/ -- Aviron (Nasdaq: AVIR) today
announced that it has sold 339,955 shares of its common stock, registered
under its Registration Statement on Form S-3 (No. 333-87185), to Acqua
Wellington Asset Management LLC (Acqua Wellington) for an aggregate price of
$8,000,000, or $23.53 per share. The company did not pay any fees or other
compensation in connection with this transaction.
Net proceeds from the sale will be used to fund operating costs, capital
expenditures and working capital needs, which may include costs of FluMist
regulatory filings and the manufacturing and commercialization of FluMist in
its current formulation; development of a second-generation formulation of
FluMist; research and development of other pipeline products; development of
the infrastructure necessary to support these activities; and other general
corporate purposes.
Acqua Wellington also has increased its equity financing commitment to
Aviron from $48 million to $84 million. These funds are available, at Aviron's
discretion, through February 2001 at a small discount to the market. After
today's sale, an aggregate total of $64 million remains available under the
commitment.
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 to validate the manufacturing
process, facilities or equipment for the company's nasal influenza vaccine,
and the assessment by regulatory agencies that the company's future license
applications for its nasal influenza vaccine 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 S-3 Registration Statement
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:
Media, John Bluth of Aviron, 650-919-3716, or
Claudette Hibbert of Fleishman-Hillard, 212-453-2000; or
investors, John Bluth, 650-919-3716, or Fred Kurland,
650-919-6666, both of Aviron
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