MOUNTAIN VIEW, Calif., Dec. 16 /PRNewswire/ -- Aviron (Nasdaq: AVIR),
today announced that it has sold 258,408 shares of its Common Stock registered
under its Registration Statement on Form S-3 (No. 333-87185) to a financial
institution for an aggregate price of $4,000,000, or $15.48 per share.
In a separate private transaction, pursuant to the Company's agreement
with Wyeth Lederle Vaccines, a business unit of Wyeth-Ayerst Laboratories, the
pharmaceutical division of American Home Products Corporation (AHP), Aviron
has sold 86,136 shares of its Common Stock to AHP for an aggregate price of
$1,333,333, or $15.48 per share. Aviron has agreed to register these shares
for resale within 180 days. The Company did not pay any fees or other
compensation in connection with these transactions.
Net proceeds from the sales 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.
This press release contains forward-looking statements. 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 demonstrate stability or failure to validate the
manufacturing process 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 shelf S-3 Registration
Statement, Annual Report on Form 10-K for the year ended December 31, 1998,
and subsequent Forms 10-Q.
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 located 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, Karen Gilbert of Aviron, 650-919-6578,
or Camela Stuby 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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