He is a welcome and necessaryaddition to our services team."Chandra is widely recognized in the industry for his expertise in softwaresecurity, security training, and code analysis, and also for his ability toapply technical knowledge strategically from a business perspective.Most recently, Chandra was an independent consultant where he worked withclients to build and optimize software security programs. In this role, Chandra will be responsible forfurther defining Fortify's professional services strategy, trainingdevelopment, client service delivery and operations. He will also leadstrategic projects such as Fortify's contribution to software securitymaturity models like OpenSAMM."Fortify is continuing to expand our professional services offering to meet anincreasing customer demand," said John M. These changes did not have a significant impact onCompany's net loss, assets, liabilities, shareholders' equity or cashflows. BALANCE SHEET HIGHLIGHTS (unaudited) (in thousands)March 31, Decmeber 31,20092008--------------------------------------Cash, cash equivalents and short-term securities$25,008$11,474Total current assets 28,779 17,044Total assets 37,017 25,536Total current liabilities11,6167,288Total shareholders' equity$22,890$15,732AVI Press and Investor Contact:Julie RathbunInvestor Relations(541) Copyright 2009, Market Wire, All rights reserved.-0-.
SAN MATEO, Calif., May 11 /PRNewswire/ -- Fortify Software, the market leaderin Software Security Assurance solutions, today announced the appointment ofPravir Chandra as Director of Strategic Services under Vice President ofGlobal Services, Jim Yares. For more information, visit"Safe Harbor" Statement under the Private Securities Litigation Reform Actof 1995: The statements that are not historical facts contained in thisrelease are forward-looking statements that involve risks anduncertainties, including, but not limited to, the results of research anddevelopment efforts, the results of preclinical and clinical testing, theeffect of regulation by the FDA and other agencies, the impact ofcompetitive products, product development, commercialization andtechnological difficulties, and other risks detailed in the company'sSecurities and Exchange Commission filings. Unlike other RNA therapeutic approaches,AVI's antisense technology has been used to directly target both messengerRNA (mRNA) and its precursor (pre-mRNA), allowing for both up- anddown-regulation of targeted genes and proteins. AVI's RNA-based drugprograms are being evaluated for the treatment of Duchenne musculardystrophy as well as for the treatment of cardiovascular restenosisthrough our partner Global Therapeutics, a Cook Group Company. AVI'santiviral programs have demonstrated promising outcomes in Ebola Zaireand Marburg Musoke virus infections and may prove applicable to otherviral targets such as HCV or Dengue viruses. In addition, a recording of the call will be available withinapproximately 24 hours at AVI BioPharmaAVI BioPharma is focused on the discovery and development of RNA-baseddrugs utilizing proprietary derivatives of its antisense chemistry(morpholino-modified phosphorodiamidate oligomers or PMOs) that can beapplied to a wide range of diseases and genetic disorders through severaldistinct mechanisms of action.
The Company believes it will beawarded certain government contracts to pursue the continued developmentof its antiviral compounds and has assumed a revenue contribution fromthese awards in providing this guidance. Should the Company not receivethe additional contracts, or should their timing be delayed, they mayhave a negative impact on these projections.Conference CallAVI management will hold a conference call to report first quarter 2009financial results on Monday, May 11, 2009, at 9:30 a.m Eastern time (6:30a.m. Pacific time).Individuals interested in listening to the live conference call may do soby dialing 877-723-9519 toll free within the United States and Canada, or719-325-4809 for international callers.A replay of the call will be available by dialing 888-203-1112 toll freewithin the U.S and Canada, or 719-457-0820 The passcode for the replayis 5077924. USA, 10.1073/PNAS 0812436106) demonstrating theeffectiveness of a systemically delivered PPMO-based splice switchingoligomer or SSOin vivo in a mouse model of an inherited blood disorder.--Announced the appointment of Stephen B. Shrewsbury, M.D., as ChiefMedical Officer and Senior Vice President of Clinical and RegulatoryAffairs.--Announced the retirement of John Fara, PhD., and the appointment ofChristopher S Henney, Ph.D., D Sc and M Kathleen Behrens, Ph.D. to theCompany's Board of Directors.Guidance:For 2009, AVI confirms its guidance for expenditures foroperations, net of government funding and other collaborative efforts, tobe approximately $10 to $12 million.
The open label trial is evaluating multiple infusions over12 weeks of ascending doses of AVI-4658 and includes measures of safety,efficacy and pharmacokinetics.--Announced successful completion of a single injection, dose escalationPhase 1 trial of AVI-4658 for the treatment of DMD by exon skipping. AVI-4658 induced a robust expression of dystrophin following IM injection in aseries of drug-treated patients such that up to 80 of fibers were positivefor dystrophin expression, when one corrects for background expression inthe other, saline-treated foot.Equally importantly, individual fibersshowed new protein expression at a level up to 40% of normal.There was noimmune response to the protein and no serious, treatment-related sideeffects were observed.--Announced publication of pre-clinical results in Proceedings of theNational Academy of Sciences (Saovaros Svasti et al (January 12, 2009)Proc Natl Acad Sci. to support preclinical studies in thedevelopment of AVI-4658 for treatment of Duchenne muscular dystrophy. Thework will be conducted with Children's National collaborators Eric Hoffman,Ph.D., an authority on DMD and Professor of Pediatrics, and Edward Connor,M.D., Director, Office of Investigational Therapeutics and Professor ofPediatrics.The collaboration will support the series of GLP toxicologystudies for AVI-4658 which is required to release the clinical hold on theUS IND.--Received key patents for drug candidate AVI-6002 targeting Ebola ZaireVirus protein VP35.The patents cover composition and methods to target theEbola virus VP35 protein with a range of PMOplus(TM) compounds.--Announced treatment of the first patient in a clinical trialevaluating IV delivery of AVI-4658 for the treatment of Duchenne musculardystrophy (DMD). Netincome, income from operations, or cash flow provided by operatingactivities may vary materially from EBITDAX. Information regarding income taxes,interest, depreciation, depletion, amortization, impairment, abandonmentand exploration expense is unavailable on a forward looking basis. EBITDAX is alsowidely used by investors and rating agencies.EBITDAX is not a measure of financial performance under US GAAP.Accordingly, it should not be considered as a substitute for net income,income from operations, or cash flow provided by operating activitiesprepared in accordance with GAAP.