AVI BioPharma Provides Update on Duchenne Muscular Dystrophy Program
December 27 2010 - 7:30AM
Marketwired
AVI BioPharma (NASDAQ: AVII) today provided an update for its
Duchenne muscular dystrophy (DMD) program. Working with AVI's
management team, incoming CEO and President Chris Garabedian, who
will join the Company January 1, will evaluate opportunities to
accelerate development of RNA-based therapeutics for DMD with the
objective of expediting the initiation of pivotal studies and
potential regulatory approval of the Company's novel DMD drug
candidates, including AVI-4658. AVI is developing AVI-4658 as a
systemically administered treatment for a substantial subgroup of
patients with DMD, a genetic muscle wasting disease caused by the
absence of functional dystrophin.
"We are committed to determining and pursuing the most efficient
path toward initiating pivotal studies and increasing the value of
our DMD assets," said Garabedian. "Given previous guidance that the
U.S.-based study would be started before year-end, we want to
communicate our plan to evaluate alternative development
opportunities that may have the potential to accelerate this
program. While our evaluation includes reviewing the structure and
timeline of the U.S.-based study, we intend to expeditiously
identify development options that are more aggressive overall and
set a foundation for continuing to building a successful company
for the long-term. We look forward to providing a timely update on
the evaluation and the efforts to advance our DMD assets into a
pivotal program working closely with the DMD community."
About AVI BioPharma AVI BioPharma is
focused on the discovery and development of novel RNA-based
therapeutics for rare and infectious diseases, as well as other
select disease targets. Applying pioneering technologies developed
and optimized by AVI, the Company is able to target a broad range
of diseases and disorders through distinct RNA-based mechanisms of
action. Unlike other RNA-based approaches, AVI's technologies can
be used to directly target both messenger RNA (mRNA) and precursor
messenger RNA (pre-mRNA) to either down-regulate (inhibit) or
up-regulate (promote) the expression of targeted genes or proteins.
By leveraging its highly differentiated technology platform, AVI
has built a pipeline of potentially transformative therapeutic
agents, including a clinical stage Duchenne muscular dystrophy
candidate and anti-infective candidates for influenza and
hemorrhagic fever viruses. For more information, visit
www.avibio.com.
Forward-Looking Statements and Information
This press release contains statements that are forward-looking,
including statements about the development of AVI 4658, other
RNA-based technology and the efficacy, potency and utility of our
product candidates in the treatment of rare and infectious
diseases, and its potential to treat a broad number of human
diseases. These forward-looking statements involve risks and
uncertainties, many of which are beyond AVI's control. Known risk
factors include, among others: clinical trials may not be initiated
or proceed on expected timelines; clinical trials may not
demonstrate safety and efficacy of any of AVI's drug candidates,
including AVI 4658, and/or AVI's RNA-based technology platform; any
of AVI's drug candidates, including AVI 4658, may fail in
development, may not receive required regulatory approvals, or be
delayed to a point where they do not become commercially viable.
Any of the foregoing risks could materially and adversely affect
AVI's business, results of operations and the trading price of its
common stock. For a detailed description of risks and uncertainties
AVI faces, you are encouraged to review the official corporate
documents filed with filed with the Securities and Exchange
Commission. AVI does not undertake any obligation to publicly
update its forward-looking statements based on events or
circumstances after the date hereof.
Avi Biopharma (NASDAQ:AVII)
Historical Stock Chart
From May 2024 to Jun 2024
Avi Biopharma (NASDAQ:AVII)
Historical Stock Chart
From Jun 2023 to Jun 2024