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.
(c)2012 The Seattle Times
Visit The Seattle Times at www.seattletimes.com
Distributed by MCT Information Services
Posted: July 2012