Aviragen Therapeutics to explore strategic alternatives
Aviragen Therapeutics intends to explore a range of strategic alternatives including a business combination, merger, in-licensing of complementary products, acquisition or any other value-building transaction.
The Company has retained Stifel, Nicolaus & Company, Incorporated to serve as its financial advisor in the process.
Aviragen Therapeutics does not have a defined timeline for the exploration of strategic alternatives and is not confirming that the process will result in any strategic alternative being announced or consummated.
Aviragen Therapeutics does not intend to discuss or disclose further developments during this process unless and until its Board of Directors has approved a specific action or otherwise determined that further disclosure is appropriate.
Additional Corporate Updates:
BTA074: The Phase 2 trial of BTA074, a topical antiviral treatment for condyloma caused by human papillomavirus (HPV), is continuing with the randomization of patients. It is anticipated that enrollment in the trial will be completed in 2H 2017 and top-line efficacy data will be available 1H 2018.
Vapendavir: The Company is evaluating a potential clinical development path for the drug based on the consistent antiviral effect observed in the Phase 2b SPIRITUS trial and previous clinical studies and its favorable safety profile. Additionally, based on the Company's further analysis of data from the SPIRITUS trial, the previously planned Phase 2 trial in hematopoietic stem cell transplant patients will not proceed forward.
BTA585: The Company continues to progress activities that will support its response to the U.S Food and Drug Administration (FDA) regarding the clinical hold on its Investigational New Drug (IND) application.
RSV Non-Fusion Inhibitor: Development of the non-nucleoside inhibitor program for the treatment of respiratory syncytial virus (RSV) infections continues to make good progress with the identification of several compounds that demonstrate low nanomolar antiviral activity in vitro.
General and Administrative Expense: The Company will reduce its headcount by approximately 25%.
Source: Company Press Release