San Diego, April 11, 2006 -- Avanir Pharmaceuticals (NASDAQ: AVNR) announced that at market open today, the Company's stock will resume trading on the NASDAQ® National Market System under the new ticker symbol "AVNR" and discontinue trading on the American Stock Exchange (AMEX) under its previous ticker symbol "AVN.R."
"We want to thank the AMEX for their strong support and professionalism over the last six years," said Eric K. Brandt, President and Chief Executive Officer of Avanir. "Today's action provides our shareholders with the additional benefits that come with listing on NASDAQ. This change, along with the recent news of the FDA's acceptance for filing and priority review designation of our Neurodex new drug application, continues to make 2006 a very exciting year for our Company."
Avanir Pharmaceuticals is focused on developing and commercializing novel therapeutic products for the treatment of chronic diseases. Avanir's product candidates address therapeutic markets that include central nervous system and cardiovascular disorders, inflammation, and infectious diseases. Avanir previously announced positive results in the second of two required Phase III clinical trials of Neurodex™, an investigational new drug for the treatment of involuntary emotional expression disorder (IEED). Additionally, Avanir has initiated a Phase III clinical trial for Neurodex as a potential treatment in patients with diabetic neuropathic pain, a second indication for Neurodex. Avanir has active collaborations with two international pharmaceutical companies: Novartis International Pharmaceutical Ltd., for the treatment of inflammatory disease and AstraZeneca, for the treatment of cardiovascular disease. 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.
Avanir Pharmaceuticals Contacts:
Patrick O'Brien Patrice Saxon