AVI BioPharma (AVII) has recently raised $34.5 million (US Dollars) from the recent public offering of over 24 million shares of its stock which is currently trading on the NASDAQ.

AVI BioPharma, a top Biotech company which develops RNA-based treatments for diseases like the Ebola virus, muscular dystrophy and the influenza virus said it priced the offering and stock at $1.42 per unit. Each unit consisted of a share of common stock and a warrant to purchase 40 cents of a share of common stock.

AVI BioPharma has also announced the recent results and scientific findings of its Phase 1 clinical trial assessing the “proof of concept” and safety of AVI-4658 in patients with Duchenne Muscular Dystrophy (DMD).The results show critical research and analysis for the treatment of Muscular Dystrophy, which could be vital in finding treatments for the disease.

AVI Biopharma is currently trading at 2.05 on the NASDAQ and has risen 20% in stock price since 01 September 2009. Other top Biotech companies including Dynavax (DVAX) and Generex Biotechnology (GNBT) have also had similar stock increases.