Ownership Submission
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 OF SECURITIES

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
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(Print or Type Responses)
1. Name and Address of Reporting Person *
WEBBER MARK MILES
   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)
CFO
(Last)
(First)
(Middle)
ONE SW COLUMBIA, SUITE 1105		 3. Date of Earliest Transaction (Month/Day/Year)
02/02/2008
(Street)

PORTLAND, OR 97258		 4. If Amendment, Date 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
(City)
(State)
(Zip)
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               15,446 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 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   42,985   02/28/2009(1) 02/28/2018 Common Stock 42,985 $ 0 42,985 D  
Incentive Stock Option (right to buy) $ 6.625 02/02/2008   J     2,500 01/01/1998(2) 02/02/2008 Common Stock 2,500 $ 0 0 D  
Non-Qualified Stock Option (right to buy) $ 1.39 02/28/2008   A   32,015   02/28/2009(2) 02/28/2018 Common Stock 32,015 $ 0 32,015 D  
Incentive Stock Option (right to buy) $ 2.53             02/22/2006(1) 02/22/2015 Common Stock 75,000   75,000 D  
Incentive Stock Option (right to buy) $ 3             02/06/2009(1) 02/06/2017 Common Stock 25,001   25,001 D  
Incentive Stock Option (right to buy) $ 5.35             12/05/2005(1) 12/05/2012 Common Stock 18,691   18,691 D  
Incentive Stock Option (right to buy) $ 6.875             08/15/2001(3) 08/15/2010 Common Stock 52,937   52,937 D  
Incentive Stock Option (right to buy) $ 7.35             02/16/2007(1) 02/16/2016 Common Stock 23,605   23,605 D  
Non-Qualified Stock Option (right to buy) $ 3             02/06/2008(1) 02/06/2017 Common Stock 49,999   49,999 D  
Non-Qualified Stock Option (right to buy) $ 5.35             12/05/2003(1) 12/05/2012 Common Stock 63,809   63,809 D  
Non-Qualified Stock Option (right to buy) $ 6.875             08/15/2001(1) 08/15/2010 Common Stock 79,063   79,063 D  
Non-Qualified Stock Option (right to buy) $ 7.35             02/16/2007(1) 02/16/2016 Common Stock 51,395   51,395 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
WEBBER MARK MILES
ONE SW COLUMBIA, SUITE 1105
PORTLAND, OR 97258		       CFO  

Signatures

 Mark M. Webber   03/03/2008
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(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.
(3) Vesting: 25% of the shares vest each year from the date of grant with all shares vesting in four years.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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