(Reuters) – Shares in biotechnology company AVI BioPharma (AVII.O) could rise significantly in the next 12 months if it continues to report favorable results from trials of its drugs, Barron’s reported on Sunday.
AVI BioPharma is working on treatments for high-profile diseases such as swine flu, according to Barron’s.
The company earlier this month reported positive results from a study of a drug it designed to treat a genetic muscle-wasting disease.
But AVI shares have seen little recognition from Wall Street, in part because the company has no drugs on the market, it is in the early stages of testing its treatments and it has little revenue outside of government grants, the newspaper reported.
The company is seeking a large investment partner that could help finance its drug development and help validate the company, Barron’s said. If it is able to do such a deal, AVI shares could jump significantly, the newspaper said.
AVI shares closed at $1.45 on Friday. The shares were at $1.46 at the end of 2009.
(Reporting by Elinor Comlay; Editing by Diane Craft)