Why Anavex Life Sciences Blasted Higher Today
Anavex Life Sciences (NASDAQ: AVXL) stock rocketed as much as 25% higher Monday before landing at a nearly 14% gain at market close. This was hardly surprising, as earlier in the day the company released some excellent news about one of its drug candidates.
Anavex said in a press release that its ANAVEX 2-73, which targets several debilitating central nervous system (CNS) disorders, showed very promising results in a clinical trial. Specifically, the drug seems to activate a key receptor, Sigmar1.
The study was a phase 2 trial for the treatment of adult Rett syndrome patients. This is a rare CNS affliction that generally affects young girls; so far, it has no cure.
Source Fool.com
