Avigen Inc. (AVGN)

Avigen, Inc., a development stage biopharmaceutical company, engages in the development and commercialization of small molecule therapeutics to treat neurological and neuromuscular disorders. The company is developing AV650 under license and supply agreement with SDI Diagnostics International, LTD. for the treatment of spasticity and painful muscle spasms in North America; AV411 for the treatment of neuropathic pain and other neurological disorders; and AV513 for the treatment of bleeding disorders, including hemophilia. Avigen was founded in 1992 and is headquartered in Alameda, California.

For the six months ended 30 June 2006, Avigen, Inc.'s revenue totaled $103K, up from $20K. Net loss rose 15% to $12.9M. Revenues reflect the payment from Genzyme Corporation in connection with the divestiture of gene therapy assets. Lower loss reflects higher operating margin, a decrease in research & development expenses, the absense of impairement loss related to long-lived assets, an increase in interest income.