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Successful study may boost Avi BioPharma-Barron's

Sun Oct 4, 2009 6:22pm EDT

Stocks

   

NEW YORK, Oct 4 (Reuters) - If Avi BioPharma's (AVII.O) drug for Duchenne muscular dystrophy proves successful, shares of this biotech are likely to surge, Barron's said on Sunday.

The company may also be an acquisition target for Big Pharma, the financial newspaper said. The drug is in early-stage trials in the United Kingdom and the results of that trial may be revealed late this year.

The Duchenne drug could garner $1 billion or more in annual revenue and if it moves toward U.S. Food and Drug Administration approval, the stock could leap.

But like many other biotechs, Avi BioPharma is a highly speculative play and the company has disappointed investors in the past, Barron's noted.

On Friday, the company's stock fell 4.3 percent to $1.56 on the Nasdaq. (Reporting by Deepa Seetharaman; Editing by Jan Paschal)



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