AVI BioPharma to Extend Expiration Dates of AVIIW and AVIIZ Warrants.Business Editors, Health/Medical Writers PORTLAND, Ore.--(BW HealthWire)--March 5, 2002 AVI BioPharma Inc. (Nasdaq:AVII)(Nasdaq:AVIIW)(Nasdaq:AVIIZ) today announced that the company will extend, by three months each, the expiration dates of its warrants trading under the symbols AVIIW and AVIIZ. With the extension, AVIIW warrants will now expire on Sept. 3, 2002, and AVIIZ warrants will expire on Aug. 15, 2003. "The tragic global events of Sept. 11, 2001, removed about three months of equilibrium from the marketplace," said Denis Denis, king of Portugal: see Diniz. R. Burger, Ph.D., AVI's chief executive officer. "AVI's directors agreed that this extension of time was appropriate and necessary in the interest of fairness to both our warrant holders and our shareholders." The AVIIW warrants originated in the company's initial public offering in 1997, and the AVIIZ warrants were part of the consideration in the company's purchase of ImmunoTherapy Corp. in 1998. The exercise price for each of the warrants remains unchanged at $13.50 per warrant for one share of common stock. About AVI BioPharma AVI BioPharma develops therapeutic products for the treatment of life-threatening diseases using two technology platforms: NEUGENE(R) antisense antisense, DNA or RNA manipulated in a laboratory so that its components (nucleotides) form a complementary copy of normal, or "sense," messenger RNA (mRNA; see nucleic acid). drugs and cancer immunotherapy. Its lead cancer agent, AVICINE(R), a therapeutic cancer vaccine, has completed three Phase II trials in colorectal and pancreatic cancer pancreatic cancer Malignant tumour of the pancreas. Risk factors include smoking, a diet high in fat, exposure to certain industrial products, and diseases such as diabetes and chronic pancreatitis. Pancreatic cancer is more common in men. and is in a Phase III pivotal trial in colorectal cancer. The first application of its NEUGENE compounds, Resten-NG(TM), is designed to treat cancer, cardiovascular restenosis and other cell proliferation disorders by inhibiting the production of a cellular transcription factor, the oncogene oncogene Gene that can cause cancer. It is a sequence of DNA that has been altered or mutated from its original form, the proto-oncogene (see mutation). Proto-oncogenes promote the specialization and division of normal cells. c-myc. It is currently in Phase II trials for restenosis and in Phase I/II trials for cancer and polycystic kidney disease Polycystic Kidney Disease Definition Polycystic kidney disease (PKD) is one of the most common of all life-threatening human genetic disorders. . More information about AVI (Audio Video Interleaved) A Windows multimedia video format from Microsoft. It interleaves standard waveform audio and digital video frames (bitmaps) to provide reduced animation at 15 fps at 160x120x8 resolution. Audio is 11,025Hz, 8-bit samples. is available on the Company's Web site at http://www.avibio.com/. "Safe Harbor" Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including, but not limited to, the results of research and development efforts, the results of preclinical and clinical testing, the effect of regulation by the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. and other agencies, the impact of competitive products, product development, commercialization and technological difficulties, and other risks detailed in the Companies' Securities and Exchange Commission filings. |
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