Avanir Pharmaceuticals

Neurodox maker's board approves implementation of reverse stock split

Published in Lab Business Week, February 19th, 2006

Avanir Pharmaceuticals announced that its board of directors has approved the implementation of a one-for-four reverse split of the company's common stock.

The reverse split was previously approved by the company's shareholders at the company's annual shareholder meeting held on March 17, 2005. Avanir's common stock will begin trading on a split-adjusted basis when the market opens on January 18, 2006.

"Avanir has twice sought and obtained shareholder authorization to implement a reverse stock split," stated Eric Brandt, Avanir president and CEO. "During the past year, Avanir has worked to transform itself from a research and development company into...

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Source: Lab Business Week (2006-02-19)

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