Message #19 From:
NewsBot Date: November 16, 2006 01:15:00 PM
AVNR News AVANIR Announces It Has Been Selected for Addition to the NASDAQ Biotechnology Index
SAN DIEGO--(BUSINESS WIRE)--AVANIR Pharmaceuticals (NASDAQ: AVNR) announced today that the Company
has been selected for addition to the NASDAQ Biotechnology Index, which
will be effective at the market’s opening on
Monday, November 20, 2006.
The NASDAQ Biotechnology Index was launched in 1993 and includes
securities of NASDAQ-listed companies that meet minimum requirements,
including market value, average daily share volume, and seasoning as a
public company, among other criteria. AVANIR’s
inclusion was based on the measurement of these criteria as of November
10, 2006 and inclusion will be reassessed semiannually starting in May
2007. The index is ranked on a semi-annual basis in May and November and
serves as the basis for the iShares NASDAQ Biotechnology Index Fund
(Amex: IBB). For more information about the NASDAQ Biotechnology Index,
including eligibility criteria, visit www.nasdaq.com.
About AVANIR
AVANIR Pharmaceuticals is focused on developing, acquiring and
commercializing novel therapeutic products for the treatment of chronic
diseases. AVANIR’s products and product
candidates address therapeutic markets that include the central nervous
system, cardiovascular disorders, inflammation and infectious diseases.
AVANIR currently markets FazaClo®,
the only orally-disintegrating formulation of clozapine for the
management of severely ill schizophrenic patients who fail to respond
adequately to standard schizophrenic drug treatments. FazaClo is also
indicated for reducing the risk of suicidal behavior in patients with
schizophrenic or schizoaffective disorder. For full prescribing
information and important safety information regarding FazaClo, please
visit www.fazaclo.com. Zenvia™,
AVANIR's lead product candidate for the treatment of involuntary
emotional expression disorder (IEED), is the subject of an approvable
letter from the FDA and future development plans for this product
candidate are under consideration. The Company does not know at this
time what impact, if any, the ongoing discussions with the FDA for IEED
may have on the development of Zenvia for other indications.
Additionally, AVANIR has completed the patient recruitment in a Phase
III clinical trial with Zenvia as a potential treatment for patients
with painful diabetic neuropathy. AVANIR has active collaborations with
two international pharmaceutical companies: Novartis International
Pharmaceutical Ltd. for the treatment of inflammatory disease and
AstraZeneca for the treatment of cardiovascular disease. The Company's
first commercialized product, abreva®,
is marketed in North America by GlaxoSmithKline Consumer Healthcare and
is the leading over-the-counter product for the treatment of cold sores.
Further information about AVANIR can be found at www.avanir.com.
Forward Looking Statement
Statements in this press release that are not historical facts,
including statements that are preceded by, followed by, or that include
such words as "estimate," "intend," "anticipate," "believe," "plan," or
"expect," or similar statements, are forward-looking statements that are
subject to certain risks and uncertainties that could cause actual
results to differ materially from the future results expressed or
implied by such statements. There can be no assurance that the Company
will continue the clinical development of Zenvia after its planned
meeting with the FDA or that Zenvia will receive FDA regulatory approval
for any indication. There can also be no assurance that the FDA will not
require additional evidence of Zenvia’s safety
and/or efficacy, notwithstanding the existence of an SPA for the Company’s
neuropathic pain clinical trials. If regulatory approval is received,
there can be no assurance that AVANIR will be able to market Zenvia
successfully. Final review decisions made by the FDA and other
regulatory agencies concerning clinical trial results are often
unpredictable and outside the influence and control of the Company.
Additionally, there can be no assurance that the Company will continue
to meet the inclusion criteria for the NASDAQ Biotechnology Index. Risks
and uncertainties also include the risks set forth in AVANIR's most
recent Annual Report on Form 10-K and subsequent Quarterly Reports on
Form 10-Q, in the Company’s Current Report on
Form 8-K filed with the SEC on November 3, 2006, and from time-to-time
in other publicly available information regarding the Company. Copies of
this information are available from AVANIR upon request. AVANIR
disclaims any intent to update these forward-looking statements.
