Avigen Snapshot
Avigen has decided to go back to pharmaceutical basics. The company has been focused on developing small-molecule drugs aimed at controlling severe pain, opiate addiction and withdrawal, and blood clotting. Its primary drug candidate AV411 is a non-opiate treatment for opiod dependence and neuropathic pain. The drug is already approved for sale in Japan for non-pain indications. After an earlier candidate failed to perform well in trials, the company announced that it would restructure, cutting its staff by 70% to reduce costs, and seek merger or asset sale transactions. In 2009 the company announced that it would liquidate its assets.