ALSO NOTED: AVI BioPharma shares hammered; FDA reviews expert panels; and much more...

> Shares of AVI BioPharma were hammered after researchers reported weaker-than-expected data from a clinical trial of its hepatitis C therapy. The company stressed the data is preliminary. Report

> The FDA has begun a review of the activities of its expert advisory panels to study the best practices of the groups and offer guidelines on how they should operate. Panels have some guidelines to go by now, but drug developers have complained of inconsistencies in how some of them review drugs and offer their opinion on approvals. Article (WSJ sub. req.)

> Novacea has slashed its IPO price to $6.50 a share from $11 to $13 a share. The biotech still plans to offer 6.25 million shares. Report

> Hawaii Biotech's board has blessed its merger with Australia's Avantogen and will keep its headquarters in Hawaii. Researchers there are working on an avian flu vaccine. Report

> GlaxoSmithKline has won an injunction against animal rights extremists in the UK who have been sending out threatening letters to shareholders demanding that they sell their shares in the company. Report

> Avanir Pharmaceuticals plans to consolidate its San Diego research facilities and relocate its corporate staff to Orange County. Report

> The Boston Globe has a follow-up to yesterday's announcement that Merck is buying GlycoFi for $400 million, offering some additional insight into the relative significance of the deal. Merck is paying the highest cash price ever offered for a private biotech company. Article

> Oxford Genome Sciences and Medarex have agreed to a pact to develop new therapeutic antibodies for oncology. Release

> Denver-based Ceragenix has inked a research pact with Johns Hopkins. Release

And Finally... One school in Scottsdale is shuttering shop classes in favor of biotechnology. Report