AVI Biopharma (NASDAQ: [[ticker:AVII]]), the Bothell, WA-based developer of RNA-based therapies, said today it has raised $30 million through a stock offering. The company sold 20 million new shares at $1.50 apiece. The price represented a 19 percent discount to yesterday’s stock market closing price of $1.86. The underwriters of the deal—Lazard Capital Markets, Piper Jaffray, and ThinkEquity—were granted a 30-day option to buy more shares, which could raise an additional $4.5 million, AVI Biopharma said.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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