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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001140888-09-000078.txt : 20090602
<SEC-HEADER>0001140888-09-000078.hdr.sgml : 20090602
<ACCEPTANCE-DATETIME>20090602125909
ACCESSION NUMBER:		0001140888-09-000078
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090531
FILED AS OF DATE:		20090602
DATE AS OF CHANGE:		20090602

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BLACK BEAR OFFSHORE MASTER FUND LP
		CENTRAL INDEX KEY:			0001275688
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14895
		FILM NUMBER:		09867599

	BUSINESS ADDRESS:	
		STREET 1:		CORPORATE CTR WEST BAY RD
		STREET 2:		PO BOX 31106-SMB
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			00000

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AVI BIOPHARMA INC
		CENTRAL INDEX KEY:			0000873303
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				930797222
		STATE OF INCORPORATION:			OR
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE SW COLUMBIA
		STREET 2:		STE 1105
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97258
		BUSINESS PHONE:		5032270554

	MAIL ADDRESS:	
		STREET 1:		ONE SW COLUMBIA
		STREET 2:		SUITE 1105
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97258

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ANTIVIRALS INC
		DATE OF NAME CHANGE:	19970123
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0203</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2009-05-31</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000873303</issuerCik>
        <issuerName>AVI BIOPHARMA INC</issuerName>
        <issuerTradingSymbol>AVII</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001275688</rptOwnerCik>
            <rptOwnerName>BLACK BEAR OFFSHORE MASTER FUND LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>CORPORATE CTR WEST BAY RD</rptOwnerStreet1>
            <rptOwnerStreet2>PO BOX 31106-SMB</rptOwnerStreet2>
            <rptOwnerCity>GRAND CAYMAN</rptOwnerCity>
            <rptOwnerState>E9</rptOwnerState>
            <rptOwnerZipCode></rptOwnerZipCode>
            <rptOwnerStateDescription>CAYMAN ISLANDS</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>9914211</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Black Bear Offshore Master Fund, L.P. (&quot;Filer&quot;) disclaims membership in a group with any other person within the meaning of Rule 13d-5(b)(i) and Rule 16a-1(a)(1) under the Securities Exchange Act of 1934, as amended.</footnote>
        <footnote id="F2">Eastbourne Capital Management, L.L.C. is the beneficial owner of more than 10 percent of the outstanding common stock of Avi BioPharma, Inc.  Under a Letter Agreement Regarding Board of Director Representation dated as of January 30, 2009, between Eastbourne Capital Management, L.L.C. and Avi BioPharma, Inc., Avi BioPharma, Inc. agreed to take all necessary actions to have one designee of Eastbourne Capital Management, L.L.C. nominated to Avi BioPharma, Inc.'s Board of Directors. Pursuant to this agreement, Dr. Kathleen Behrens currently serves on the Board of Directors of Avi BioPharma, Inc.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Eric Sippel</signatureName>
        <signatureDate>2009-06-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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