| Ticker: AVGN | 1201 Harbor Bay Parkway, Suite 1000 | |
| Exchange: NASDAQ-Small Cap Market | Alameda, California 94501 | |
| Industry: Manufacturing | (510) 748-7150 |
| Type of Shares: | Common Shares | Filing Date: | 4/4/96 | |
| U.S. Shares: | 2,500,000 | Offer Date: | 5/22/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $7.00 - $9.00 | |
| Primary Shares: | 2,500,000 | Offer Price: | $8.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.60 | |
| Offering Amount: | $20,000,000 | Selling: | $0.30 | |
| Expenses: | $800,000 | Reallowance: | $0.10 | |
| Shares Out After: | 7,029,015 |
| Manager | Tier | Phone |
| Wedbush Morgan Securities | Lead Manager | (213) 688-8050 |
| Sands Brothers & Co., Ltd. | Co-manager | (212) 697-5200 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $0.18 | $0.09 | $0.09 | Assets: | $3.64 |
| Net Income: | -$3.27 | -$2.53 | -$2.42 | Liabilities: | $3.76 |
| EPS: | -$0.62 | -$0.47 | Equity: | -$0.12 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Avigen is a leader in the development of gene therapy products derived from adeno-associated virus ("AAV") for the treatment of inherited and acquired diseases. The Company's proposed gene therapy products are designed for in vivo administration to achieve the production of therapeutic proteins within the body. The Company is developing two broad-based proprietary gene delivery technologies: AAV vectors and the Targeted Vector Integration ("TVI") system. The Company believes AAV vectors can be used to deliver genes for the treatment of brain, liver and prostate cancer, anemia, hemophilia, hyperlipidemia and metabolic storage diseases. The Company also believes its TVI system will allow it to pursue more effective treatments for blood cell-related diseases, including sickle cell anemia, beta-thalassemia and human immunodeficiency virus ("HIV") infection. |
| Use of Proceeds |
| The proceeds from the offering will be used to repay debt, research and development, leasehold improvements and capital equipment, working capital and other general corporate purposes. |
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