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 *
WELLER DWIGHT D
   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)
Sr. VP Chemistry & Mfg.
(Last)
(First)
(Middle)
4575 SW RESEARCH WAY, SUITE 200		 3. Date of Earliest Transaction (Month/Day/Year)
01/03/2010
(Street)

CORVALLIS, OR 97333		 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               314,741 D  
Common Stock               24,936 I by Spouse (1)

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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) $ 1.45 02/09/2010   A   110,575   02/09/2011(2) 02/09/2020 Common Stock 110,575 $ 0 (3) 110,575 D  
Incentive Stock Option (right to buy) $ 5.75 01/03/2010   J     52,173 01/03/2001 01/03/2010(4) Common Stock 52,173 $ 0 0 D  
Incentive Stock Option (right to buy) $ 1.49 02/08/2010   A   14,000   02/08/2011(2) 02/08/2020 Common Stock 14,000 $ 0 (3) 14,000 I by Spouse
Non-Qualified Stock Option (right to buy) $ 1.45 02/09/2010   A   9,425   02/09/2011(2) 02/09/2020 Common Stock 9,425 $ 0 (3) 9,425 D  
Non-Qualified Stock Option (right to buy) $ 5.75 01/03/2010   J     31,827 01/03/2001 01/03/2010(4) Common Stock 31,827 $ 0 0 D  
Incentive Stock Option (right to buy) $ 0.92             02/10/2010(2) 02/10/2019 Common Stock 93,839   93,839 D  
Incentive Stock Option (right to buy) $ 1.39             02/28/2009(2) 02/28/2018 Common Stock 17,985   17,985 D  
Incentive Stock Option (right to buy) $ 2.53             02/22/2006(2) 02/22/2015 Common Stock 75,000   75,000 D  
Incentive Stock Option (right to buy) $ 3             02/06/2009(2) 02/06/2017 Common Stock 25,001   25,001 D  
Incentive Stock Option (right to buy) $ 5.35             12/05/2003(2) 12/05/2012 Common Stock 37,382   37,382 D  
Incentive Stock Option (right to buy) $ 7.35             02/16/2007(2) 02/16/2016 Common Stock 23,605   23,605 D  
Incentive Stock Option (right to buy) $ 0.92             02/10/2010(2) 02/10/2019 Common Stock 18,000   18,000 I by Spouse
Incentive Stock Option (right to buy) $ 1.15             06/12/2009(2) 06/12/2018 Common Stock 23,000   23,000 I by Spouse
Incentive Stock Option (right to buy) $ 1.39             02/28/2008(5) 02/28/2013 Common Stock 5,316   5,316 I by Spouse
Incentive Stock Option (right to buy) $ 2.53             02/22/2005(5) 02/22/2010 Common Stock 4,921   4,921 I by Spouse
Incentive Stock Option (right to buy) $ 3             02/06/2007(5) 02/06/2017 Common Stock 4,567   4,567 I by Spouse
Incentive Stock Option (right to buy) $ 7.35             02/16/2006(2) 02/16/2011 Common Stock 2,782   2,782 I by Spouse
Non-Qualified Stock Option (right to buy) $ 0.92             02/10/2010(2) 02/10/2019 Common Stock 6,161   6,161 D  
Non-Qualified Stock Option (right to buy) $ 1.39             02/28/2009(2) 02/28/2018 Common Stock 57,015   57,015 D  
Non-Qualified Stock Option (right to buy) $ 3             02/06/2008(2) 02/06/2017 Common Stock 49,999   49,999 D  
Non-Qualified Stock Option (right to buy) $ 5.35             12/05/2003(2) 12/05/2012 Common Stock 55,018   55,018 D  
Non-Qualified Stock Option (right to buy) $ 7.35             02/16/2007(2) 02/16/2016 Common Stock 51,395   51,395 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
WELLER DWIGHT D
4575 SW RESEARCH WAY, SUITE 200
CORVALLIS, OR 97333		       Sr. VP Chemistry & Mfg.  

Signatures

 Dwight Weller   02/11/2010
**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) Amount of Securities Beneficially Owned include shares purchased under the Company's registered Employee Stock Purchase Plan.
(2) 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.
(3) Price not required on initial report of stock option granted.
(4) All shares expired.
(5) Grant vest 100% on grant date.

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