AVANIR PHARMACEUTICALS (AVNR)

[Gd2Aussie3]

Avanir Pharmaceuticals expects higher 2nd-quarter profit to narrow its loss
AP
ALISO VIEJO, Calif. (AP) - Avanir Pharmaceuticals said Monday it expects an operating loss of between $11 million and $12.5 million during its fiscal second quarter.

The company said the figure excludes any downsizing costs from its San Diego research facilities. In March, the company ended research collaborations on two drugs with AstraZeneca Plc. and said it expects to close its San Diego facility by the end of the year. During the same period in 2006, the Avanir posted an operating loss of $13.9 million and a net loss of $13.4 million, or 43 cents per share.

Avanir said it expects revenue of about $6.1 million during the quarter, including about $4.1 million in sales of FazaClo. The company's fiscal second-quarter ended March 31. During the second quarter of 2006, revenue totaled $2.5 million.

Shares of Avanir rose 40 cents, or 9.1 percent, to $4.80 on the Nasdaq Stock Market in morning trading. The stock has traded between $1.07 and $14.64 over the last 52 weeks.
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