Upcoming AWS Coverage on Celgene Post-Earnings Results

LONDON, UK / ACCESSWIRE / April 5, 2017 / Active Wall St. blog coverage looks at the headline from Aviragen Therapeutics, Inc. (NASDAQ: AVIR) as the Company announced on April 05, 2017, that based on a review of the status of its internal programs, resources and capabilities, it plans to explore a wide range of strategic alternatives that include a business combination or strategic merger, in-licensing clinical stage programs, an acquisition, or other transaction that would complement the Company's current pipeline and could maximize both near- and long-term value for its shareholders. The Company has retained Stifel, Nicolaus & Company, Incorporated to serve as its financial advisor in the process. Register with us now for your free membership and blog access at:

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One of Aviragen Therapeutics's competitors within the Biotechnology space, Celgene Corp. (NASDAQ: CELG), announced on April 03, 2017, that it will host a conference call and live audio webcast on Thursday, April 27, 2017 at 9 a.m. ET to discuss Q1 2017 financial and operational results. AWS will be initiating a research report on Celgene in the coming days.

Today, AWS is promoting its blog coverage on AVIR; touching on CELG. Get all of our free blog coverage and more by clicking on the link below:

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Aviragen stated that it 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. The Company noted that it will not 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: Aviragen stated that 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 enrolment in the trial will be completed in H2 FY17 and top-line efficacy data is expected to be available in H1 FY18.

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 US Food and Drug Administration regarding the clinical hold on its Investigational New Drug application.

RSV Non-Fusion Inhibitor: Development of the non-nucleoside inhibitor program for the treatment of respiratory syncytial virus infections continues to make good progress with the identification of several compounds that demonstrate low nanomolar antiviral activity in vitro.

General and Administrative Expense: Aviragen announced that the Company will reduce its headcount by approximately 25%.

Stock Performance

At the close of trading session on Tuesday, April 04, 2017, following the announcement, Aviragen Therapeutics' stock price dropped 5.79% to end the day at $0.62. A total volume of 136.82 thousand shares were exchanged during the session. The Company's share price has gained 3.00% in the past one month. The stock currently has a market cap of $24.16 million.

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SOURCE: Active Wall Street