- Current report filing (8-K)
July 15 2010 - 5:16PM
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):
July 14, 2010
AVI BioPharma, Inc.
(Exact name of registrant 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 Number)
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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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3450 Monte Villa Parkway, Suite 101
Bothell, WA 98021
(Address of principal executive offices)
(425) 354-5038
Registrants telephone number, including area code
(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
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
Item
1.01. Entry into a Material Definitive
Agreement.
On
July 14, 2010, AVI BioPharma, Inc. (the Company) was awarded a new
contract with the U.S. Department of Defense Chemical and Biological Defense
Program through the U.S. Army Space and Missile Defense Command for the
advanced development of the Companys hemorrhagic fever virus therapeutic
candidates, AVI-6002 and AVI-6003, for Ebola and Marburg viruses,
respectively. The contract is funded as
part of the Transformational Medical Technologies (TMT) program, which was
pioneered to develop innovative platform-based solutions countering biological
threats.
The
contract is structured into four segments with potential funding of up to
approximately $291 million. Activity
under the first segment is to begin immediately and provides for funding to the
Company of up to approximately $80 million. After completion of the first
segment, and each successive segment, TMT has the option to proceed to the next
segment for either or both AVI-6002 and AVI-6003. If TMT exercises its options
for all four segments, contract activities would include all clinical and
licensure activities necessary to obtain FDA regulatory approval of each
therapeutic candidate and would provide for a total funding award to the
Company of up to approximately $291 million.
The
contract was granted in response to proposals the Company submitted to a
Request for Proposal (RFP) issued in November 2009 and initially submitted
by the Company in February 2010. Under an earlier contract, the Company
completed development activities that culminated in the opening of
Investigational New Drug (IND) applications for both AVI-6002 and AVI-6003.
AVI-6002
and AVI-6003 are RNA-based therapeutic candidates from the Companys
anti-infective portfolio and use AVIs proprietary PMOplus chemistry.
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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 Bothell, State of Washington, on July 15, 2010.
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AVI
BioPharma, Inc.
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By:
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/s/
J. David Boyle II
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J.
David Boyle II
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Interim President and Chief Executive Officer, and
Senior Vice President and Chief Financial Officer
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