Aviron raises $64.2 million

AVIR, a developer of vaccines, raised $49.5 million in a follow-on offering of 2 million shares at $22.50 per share. The underwriters, which included Morgan Stanley Dean Witter; Bear, Stearns; and U.S. Bancorp Piper Jaffray, also purchased the entire 300,000-share overallotment, a third of which was offered by a selling shareholder. On March 8, the company filed to sell 3 million shares when its share price was $38.75. ...