Avigen, Inc. Reports Second Quarter 2007 Financial Results

ALAMEDA, Calif., July 25, 2007 (PRIME NEWSWIRE) -- Avigen, Inc. (Nasdaq:AVGN) a biopharmaceutical company developing innovative therapies for the treatment of chronic neurological conditions, today reported financial results for its second quarter ended June 30, 2007. At June 30, 2007, Avigen had approximately $90 million in financial assets, including cash, cash equivalents, and available-for-sale securities and restricted investments, compared with approximately $66 million at March 31, 2007 and $71 million at December 31, 2006. This increase in financial assets was due to the completion of a $30.6 million public offering of common stock during the quarter. More complete financial results are detailed in the financial tables below.

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