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Friday, July 13, 2012 - Page updated at 06:00 p.m.
AVI BioPharma is now Sarepta
By Seattle Times staff
AVI BioPharma of Bothell has renamed itself Sarepta Therapeutics and completed a 1-for-6 reverse stock split.
The company, which in December laid off 28 percent of its work force after missing out on an expected contract for developing a vaccine against pandemic flu, now trades under the ticker symbol SRPT.
The reverse stock split responds to a warning from Nasdaq last month that the company's shares could be delisted because they had closed below $1 for more than 30 consecutive business days. The adjusted shares closed up 20 cents, or 5.1 percent, at $4.13 Thursday.
Sarepta said it is focusing its development programs on a treatment of Duchenne muscular dystrophy, as well as potential treatments for the lethal hemorrhagic fever viruses Ebola and Marburg.
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