AVANIR Pharmaceuticals Files Shelf Registration Statement

SAN DIEGO--(BUSINESS WIRE)--April 12, 2004--AVANIR Pharmaceuticals (AMEX:AVN) announced that it has filed a shelf registration statement on Form S-3 with the U.S. Securities and Exchange Commission (the SEC).

Upon being declared effective by the SEC, the shelf registration would enable the Company, in one or more offerings, to sell an aggregate of up to $50 million in Class A common stock from time to time over a period of up to two years. The nature and terms of any offering will be established at the time of the offering and set forth in a supplemental filing with the SEC.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

AVANIR Pharmaceuticals, based in San Diego, is a drug discovery and development company focused on the development of treatments for chronic diseases. Further information about AVANIR can be found at www.avanir.com.

The information contained in this press release, including any forward-looking statements contained herein, should be reviewed in conjunction with the company's most recent Annual Report on Form 10-K and other publicly available information regarding the company. Copies of such information are available from the company upon request. Such publicly available information sets forth many risks and uncertainties related to the company's business and technology. Forward-looking statements often contain such words like "estimate," "anticipate," "believe," "plan" or "expect." The Company disclaims any intent or obligation to update these forward-looking statements. Final review decisions made by the FDA, SEC and other regulatory agencies are unpredictable and outside the influence and/or control of the company. The company disclaims any intent or obligations to update these forward-looking statements.

CONTACT: AVANIR Pharmaceuticals
Patrice Saxon, 858-622-5202
psaxon@avanir.com

SOURCE: AVANIR Pharmaceuticals