AVANIR Regains Compliance with NASDAQ Listing Requirements
ALISO VIEJO, Calif., June 3, 2009 - AVANIR Pharmaceuticals, Inc. (NASDAQ:AVNR) today announced that it has regained compliance with the $1.00 minimum bid price requirement for continued listing on the NASDAQ Global Market pursuant to Marketplace Rule 5450(a)(1) (the "Rule"). The NASDAQ Stock Market had previously notified the Company on August 13, 2008 that its common stock had failed to maintain a minimum bid price of at least $1.00 per share over the previous 30 consecutive business days, as required by the Rule. Since May 18, 2009, the closing bid price of the Company's common stock has been at $1.00 per share or greater for at least 10 consecutive business days. Accordingly, the NASDAQ Stock Market has determined that the Company has regained compliance with the Rule and has deemed this matter closed. The Company's stock continues to be listed on the NASDAQ Global Market and its ticker symbol of AVNR remains unchanged.
AVANIR Pharmaceuticals, Inc. is focused on acquiring, developing, 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, inflammation, and infectious diseases. AVANIR's lead product candidate, Zenvia, is being developed for the treatment of pseudobulbar affect (PBA) and diabetic peripheral neuropathic (DPN) pain. AVANIR has licensed its MIF inhibitor program to Novartis International Pharmaceuticals Ltd. and has sold its anthrax monoclonal antibody program to Emergent BioSolutions. 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 and further information about PBA can be found at www.PBAinfo.org.
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AVANIR Investor Contacts
Jun 03, 2009