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Thursday, Jun 30, 2022
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Avanir Selling $200 Million in Stock

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Aliso Viejo-based Avanir Pharmaceuticals Inc. is offering $200 million of its shares to the general public.

The drug maker said it will use the offering’s net proceeds for general corporate purposes, including funding commercial activities of its primary drug, Nuedexta; funding ongoing and future clinical trials; and funding the commercial launch of its AVP-825 drug candidate.

J.P. Morgan, Deutsche Bank Securities and Bank of America Merrill Lynch are underwriting the offering.

Avanir’s shares were down 3% to a market value of $1.9 billion in midday trading.

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