Aviron Commences Initial Public Offering of Common Stock.MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Nov. 5, 1996--Aviron Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NMS See NetWare Management System. : AVIR AVIR Association of Vascular and Interventional Radiographers ) announced today that it has made an initial public offering of 2 million shares of its common stock. All of the shares are being offered by Aviron. The initial public offering price is $8.00 per share. The offering is being managed by Robertson, Stephens & Company LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ; Bear, Stearns & Co. Inc.; and Hambrecht & Quist LLC. Concurrent with this offering, the company intends to sell 222,222 shares of its common stock to Sang-A Pharm Co. Ltd. in a private placement at the initial public offering price, with the number of shares to be sold to Sang-A subject to adjustment under certain conditions. Aviron is a biopharmaceutical company whose strategy is to focus on prevention of disease. The company's goal is to become a leader in the discovery, development, manufacture and marketing of live virus vaccines which are sufficiently cost-effective to justify their use in immunization programs In the 1950s, medical breakthroughs resulted in new vaccines to combat such diseases as polio and measles. States responded by requiring mandatory immunization for schoolchildren. One result was the near eradication of diseases that had previously been crippling or fatal. targeting the general population. The company currently is conducting a pivotal Phase III clinical trial Noun 1. phase III clinical trial - a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of these clinical trials it will receive formal approval from the in children of its live cold adapted intranasal in·tra·na·sal adj. Within the nose. vaccine for influenza, and has recently announced results from a challenge efficacy study in healthy adults for this vaccine. In addition, the company is developing other vaccine candidates. A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the prospectus relating to the offering may be obtained from Robertson, Stephens & Company LLC, 555 California St., Suite 2600, San Francisco, CA 94104, 415/781-9700; Bear, Stearns & Co. Inc., 245 Park Ave., New York, NY 10167, 212/272-2000; or Hambrecht & Quist LLC, One Bush St., San Francisco, CA 94014, 415/576-3300. CONTACT: Aviron Inc., Mountain View J. Leighton Read, M.D., 415/919-6500 |
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