Aviragen to explore strategic alternatives

|By:, SA News Editor

With the aim of goosing shareholder value, Aviragen Therapeutics (NASDAQ:AVIR) intends to explore a range of strategic alternatives including a business combination, merger, in-licensing of complementary products, acquisition or any other value-building transaction. Stifel, Nicolaus is advising.

The company plans to cut headcount by 25%.

Pipeline update: Phase 2 study of topical antiviral BTA074 in condyloma (genital infection) caused by HPV is ongoing. Enrollment should be completed in H2 and top-line data in H1 2018.

Vapendavir: Clinical path under review. Mid-stage study in hematopoietic stem cell transplant patients will not proceed.

BTA585: Responses to FDA's clinical hold in process.

RSV Non-Fusion Inhibitor: Several compounds being considered.

Shares have lost over 50% of their value in 2017 and have been in a long-term downtrend for several years.