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To: coissant who wrote (119639)	4/6/2000 9:15:00 AM
From: Softechie	Respond to of 119973

AVN: AMEX - AVANIR Pharmaceuticals Starts Trading Today at 10 AM Thursday April 6, 8:31 am Eastern Time Company Press Release SOURCE: AVANIR Pharmaceuticals AVN: AMEX - AVANIR Pharmaceuticals Starts Trading Today at 10 AM - Management's Strategic Plan to Build Shareholder Value on Track - SAN DIEGO, April 6 /PRNewswire/ -- AVANIR Pharmaceuticals (OTC Bulletin Board: AVNR - news) announced today that the company's stock will start trading on The American Stock Exchange (AMEX) today at 10:00 am under the symbol AVN. Gerald J. Yakatan, Ph.D., AVANIR's chief executive officer and president, said, ``Listing on the AMEX is in line with our strategic plan of increasing corporate visibility by providing investors with a formal market to trade AVANIR's stock. Additionally, as we approach new product milestones, our AMEX listing will facilitate our search for products in late-stage clinical development to in-license. ``These are exciting times for AVANIR. Earlier this week, we announced an agreement with SmithKline Beecham for the North American rights to market AVANIR's docosanol 10% cream as a treatment for cold sores. Currently, we are awaiting a final decision from the U.S. Food and Drug Administration (FDA) on docosanol's New Drug Application (NDA). Other areas of development include our recently patented fully human monoclonal antibody technology, clinical development work on central nervous system disorders and genital herpes, and preclinical work on cholesterol lowering, inflammation, and regulating immunoglobulin E to control allergy and asthma. ``With the licensing agreement with SmithKline signed and a pipeline of other products in various stages of development, AVANIR is well positioned to move our strategic plan forward. As we work to build shareholder value, the AMEX listing will provide the visibility necessary for the market to properly value our company.' About AVANIR Pharmaceuticals AVANIR Pharmaceuticals develops novel therapeutic products for the treatment of chronic diseases. The company's lead product, docosanol 10% cream, is currently under review by the U.S. Food and Drug Administration. If approved, docosanol will be the first product in the over-the-counter cold sore treatment category to have FDA approval. In addition to docosanol, the company's product development pipeline includes an option to in-license a drug for the treatment of emotional libility in neurodegenerative diseases, expected to enter Phase II/III clinical trials by mid-year. The company also has a drug discovery program in the advanced pre-clinical stage of development for the treatment of the underlying biological causes of allergy and asthma. The company currently has approximately $11 million in working capital, prior to receiving any milestone payments from SmithKline Beecham, to manage and/or support its development programs. The information contained in this press release, including forward-looking statements contained herein, should be reviewed in conjunction with the company's annual report on Form 10-K, quarterly report on Form 10-Q for the period ended December 31, 1999, and other publicly available information regarding the company, copies of which are available from the company upon request. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Forward-looking statements usually contain the words ``anticipate,' ``expect,' ``intend,' ``believe,' or similar expressions, and are subject to numerous known and unknown risks and uncertainties. Regulatory approval and market acceptance of docosanol and other drug products is unpredictable and substantially outside the influence and/or control of the company. Further, the company can give no assurance that it will continue to develop or be successful in developing any of its other drugs under development. SOURCE: AVANIR Pharmaceuticals