- Current report filing (8-K)
October 31 2008 - 12:12PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event
Reported):
October 27, 2008
AVI BioPharma, Inc.
(Exact name of Company as specified in its
charter)
Oregon
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001-14895
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93-0797222
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(State or other
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(Commission File No.)
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(I.R.S. Employer
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jurisdiction of
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Identification No.)
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incorporation)
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One S.W.
Columbia, Suite 1105
Portland,
OR 97258
(Address of principal executive offices)
(503)
227-0554
Registrants telephone number, including area
code
Not
Applicable
(Former name or former address, if changed
since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
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Item 5.02(b) Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
Item 5.02(e) Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
Item 7.01 Regulation FD Disclosure.
Effective October 27, 2008, AVI BioPharma, Inc.
(the Company) entered into a Severance and Release Agreement (the Agreement)
with Dr. Peter OHanley, the Companys Senior Vice President for Clinical
Development and Regulatory Affairs.
Under the terms of the Agreement, Dr. OHanley has agreed that he
will resign his position effective January 9, 2009.
Dr. OHanley will remain a full-time employee
with the Company through November 28, 2008. Dr. OHanley and the Company have agreed
that between December 1, 2008 and January 9, 2009, Dr. OHanley
will be employed no more than two days per week and that Dr. OHanleys
salary will be reduced a corresponding amount during this period. Dr. OHanley has agreed to devote his
best efforts to assisting in the smooth and successful transition of knowledge
and responsibilities to his replacement.
Under the terms of the Agreement, the Company and Dr. OHanley
have also agreed to terminate the March 22, 2004 Employment Agreement
between the Company and Dr. OHanley.
Lastly, the Company and Dr. OHanley agreed to a mutual release of
any and all claims arising out of Dr. OHanleys employment with the
Company.
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SIGNATURES
Pursuant
to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, as amended, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized, in the City
of Portland, State of Oregon, on October 27, 2008.
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AVI
BioPharma, Inc.
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By:
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/s/
Leslie Hudson, Ph.D.
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Leslie
Hudson, Ph.D.
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President and Chief Executive Officer
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(Principal Operating Officer)
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