Sec Form 4 Filing - TIMMINS ALAN P @ AVI BIOPHARMA INC - 2008-02-02

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person TIMMINS ALAN P 2. Issuer Name and Ticker or Trading Symbol AVI BIOPHARMA INC [ AVII] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) President & COO (Last) (First) (Middle) ONE SW COLUMBIA, SUITE 1105 3. Date of Earliest Transaction (MM/DD/YY) 02/02/2008 (Street) PORTLAND, OR97258 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 69,882 D Common Stock 1,500 I by Daughter

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 Incentive Stock Option (right to buy) $ 1.39 02/28/2008 A 30,000 02/28/2009( 1 ) 02/28/2018 Common Stock 30,000 $ 0 30,000 D Incentive Stock Option (right to buy) $ 6.625 02/02/2008 J 20,377 01/01/1998( 2 ) 02/02/2008 Common Stock 20,377 $ 0 0 D Non-Qualified Stock Option (right to buy) $ 1.39 02/28/2008 A 60,000 02/28/2009( 1 ) 02/28/2018 Common Stock 60,000 $ 0 60,000 D Non-Qualified Stock Option (right to buy) $ 6.625 02/02/2008 J 114,623 01/01/1998( 2 ) 02/02/2008 Common Stock 114,623 $ 0 0 D Incentive Stock Option (right to buy) $ 2.45 03/27/2008( 1 ) 03/27/2017 Common Stock 40,817 40,817 D Incentive Stock Option (right to buy) $ 2.53 02/22/2006( 1 ) 02/22/2015 Common Stock 99,208 99,208 D Incentive Stock Option (right to buy) $ 5.35 12/05/2003( 1 ) 12/05/2012 Common Stock 37,382 37,382 D Incentive Stock Option (right to buy) $ 5.75 01/03/2001( 1 ) 01/03/2010 Common Stock 52,173 52,173 D Incentive Stock Option (right to buy) $ 5.88 05/19/2004( 1 ) 05/19/2013 Common Stock 8,333 8,333 D Incentive Stock Option (right to buy) $ 7.35 02/16/2007( 1 ) 02/16/2016 Common Stock 13,605 13,605 D Non-Qualified Stock Option (right to buy) $ 2.45 03/27/2008( 1 ) 03/27/2017 Common Stock 109,183 109,183 D Non-Qualified Stock Option (right to buy) $ 2.53 02/22/2006( 1 ) 02/22/2015 Common Stock 75,792 75,792 D Non-Qualified Stock Option (right to buy) $ 5.35 12/05/2003( 1 ) 12/05/2012 Common Stock 111,118 111,118 D Non-Qualified Stock Option (right to buy) $ 5.75 01/03/2001( 1 ) 01/03/2010 Common Stock 82,827 82,827 D Non-Qualified Stock Option (right to buy) $ 5.88 05/19/2004( 1 ) 05/19/2013 Common Stock 16,667 16,667 D Non-Qualified Stock Option (right to buy) $ 7.35 02/16/2007( 1 ) 02/16/2016 Common Stock 161,395 161,395 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other TIMMINS ALAN P ONE SW COLUMBIA, SUITE 1105 PORTLAND, OR97258 President & COO Signatures By: Mark M. Webber, Attorney-in-fact For: Alan Timmins 03/03/2008 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The Stock Option Grant vest as follows: 1/3 vest one year from date of grant and 1/3 each year thereafter until all shares vest three years from grant date. ( 2 )All shares expired.

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.