MOUNTAIN VIEW, Calif., Oct. 3 /PRNewswire/ -- Aviron (Nasdaq: AVIR) today
announced that it has sold 173,142 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 $46.20 per share.
The purchase price was determined based on the volume weighted average
market price for an 18-day trading period that ended on September 29. 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(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.
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 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
processes, facilities or equipment for the company's vaccines, and the
assessment by regulatory agencies that the company's future license
applications for its vaccines are incomplete or inadequate to approve the
products 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 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, 650-919-3716, or Asha
Jennings, 650-919-1429, both of Aviron; or Claudette Hibbert of
Fleishman-Hillard, 212-453-2000, for Aviron; or investors, John
Bluth, 650-919-3716, or Fred Kurland, 650-919-6666, both of
Aviron
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