SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Christopher Nishan Garabedian (Last) (First) (Middle) 3450 MONTE VILLA PARKWAY, SUITE 101 (Street) BOTHELL WA 98021 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol AVI BIOPHARMA INC [ AVII ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) President and CEO
	3. Date of Earliest Transaction (Month/Day/Year) 12/15/2011
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/15/2011		P		300,000	A	$0.5788(1)	430,000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.56 to $0.58, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

	By: Effie Toshav For: Christopher Nishan Garabedian	12/16/2011
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

POWER OF ATTORNEY

The undersigned, as a Section 16 reporting person of
AVI BioPharma, Inc. (the Company), hereby
constitutes and appoints each of Bryan King,
Effie Toshav and Wilson Sonsini Goodrich &
Rosati, P.C. the undersigneds true and lawful attorney
in fact to:
1.	complete and execute Forms ID, 3,4 and 5
and other forms and all amendments thereto as
such attorney in fact shall in his or her discretion
determine to be required or advisable pursuant
to Section 16 of the Securities Exchange Act of 1934
(as amended) and the rules and regulations
promulgated thereunder, or any successor laws and
regulations, as a consequence of the undersigneds
ownership, acquisition or disposition of securities
of the Company; and
2.	do all acts necessary in order to file such
forms with the Securities and Exchange Commission,
any securities exchange or national association,
the Company and such other person or agency as the
attorney in fact shall deem appropriate. The
undersigned hereby ratifies and confirms all that
said attorney in fact and agents shall do or cause
to be done by virtue hereof.  The undersigned
acknowledges that each foregoing
attorney in fact, in serving in such capacity
at the request of the undersigned, is not
assuming, nor is the Company assuming, any of
the undersigneds responsibilities to comply with
Section 16 of the Securities Exchange Act of 1934
(as amended).
This Power of Attorney revokes any previously
executed powers of attorney and shall remain in
full force and effect until the undersigned is
no longer required to file Forms ID, 3, 4 and 5
with respect to the undersigneds holdings of and
transactions in securities issued by the
Company, unless earlier revoked by the undersigned
 in a signed writing delivered to the
Company and each foregoing attorney in fact.
IN WITNESS WHEREOF, the undersigned has caused this
Power of Attorney to be executed as of this 15th
day of December, 2011.

Signature	/s/ Christopher Garabedian
	Christopher Garabedian