Aviragen Therapeutics Inc. is reducing its head count by 25% as it explores strategic alternatives of the business, including a combination or merger.

Stifel Nicolaus & Co. Inc. will advise the company during the review process.

The company said it will not proceed with the planned phase 2 trial of Vapendavir in hematopoietic stem cell transplant patients, though it continues to evaluate a potential clinical development path for the drug.

Meanwhile, top-line efficacy data from the phase 2 trial evaluating BTA074 to treat condyloma caused by human papillomavirus is expected in the first half of 2018.