AVI Biopharma Is Now Sarepta
BRIEF: AVI Biopharma Is Now Sarepta [the Seattle Times]
From Seattle Times (WA) (July 12, 2012)
July 12--AVI BioPharma of Bothell has renamed itself Sarepta Therapeutics and completed a 1-for-6 reverse stock split.
The company, which in December laid off 28 percent of its work force after missing out on an expected contract for developing a vaccine against pandemic flu, now trades under the ticker symbol SRPT.
The reverse stock split responds to a warning from Nasdaq last month that the company’s shares could be delisted because they had closed below $1 for more than 30 consecutive business days. Near the close of trading Thursday the adjusted shares were trading at about $4.05, up 12 cents, or 3 percent.
Sarepta said it is focusing its development programs on a treatment of Duchenne muscular dystrophy, as well as potential treatments for the lethal hemorrhagic fever viruses Ebola and Marburg.
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Posted: July 2012
