AVANIR Pharmaceuticals Files Shelf Registration Statement

AVANIR Pharmaceuticals (AMEX:AVN) today announced the
filing of a shelf registration statement with the Securities and
Exchange Commission (SEC). Subsequent to being declared effective by
the SEC, the shelf registration statement will allow the Company to
sell up to $100 million of its common stock, preferred stock,
depositary shares, debt securities and warrants from time to time in
one or more public offerings. The terms of any offering will be
established at the time of sale and will be described in a prospectus
supplement that AVANIR will file with the SEC.
   Subsequent to the shelf registration statement being declared
effective, AVANIR will have the flexibility for up to two years to
issue various types of securities as needed to provide additional
liquidity. Proceeds of any offering are expected to be used to fund
the Company's research, development and commercialization activities,
primarily related to Neurodex(TM), and for general corporate purposes.
   A registration statement relating to these securities has been
filed with the SEC but has not yet become effective. These securities
may not be sold, nor may offers to buy be accepted, prior to the time
the registration statement becomes effective. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be, any sale of these securities in any states in
which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state.
   AVANIR Pharmaceuticals is a pharmaceutical company focused on
developing and commercializing novel therapeutic products for the
treatment of chronic diseases. Further information about AVANIR can be
found at www.avanir.com.

   The information contained in this press release, including any
forward-looking statements contained herein, should be reviewed in
conjunction with the company's most recent Annual Report on Form 10-K,
subsequent quarterly reports on Form 10-Q and other publicly available
information regarding the company. Copies of such information are
available from the company upon request. Such publicly available
information sets forth many risks and uncertainties related to the
company's business and technology. Forward-looking statements often
contain such words like "estimate," "anticipate," "believe," "plan" or
"expect". The Company disclaims any intent or obligation to update
these forward-looking statements.