AVANIR PHARMACEUTICALS SAYS TO OFFER $20 MLN OF SHARES

AVANIR Pharmaceuticals on Friday said it would sell $20 million of its common stock in a registered-direct offering to a select group of institutional investors. The company said it would sell about 6 million shares of Class A common stock at $3.35 per share. The net proceeds are expected to be about $19.4 million after offering expenses, the company said in a news release.

Reuters (http://today.reuters.com/investing/financeArticle.aspx?type=newIssuesNews&storyID=URI:urn:newsml:reuters.com:20051216:MTFH14383_2005-12-16_15-12-24_WNA6744:1)