Why Anavex Life Sciences Stock Is Surging Today
Shares of Anavex Life Sciences (NASDAQ: AVXL) were surging 44.9% higher as of 11:09 a.m. ET on Friday. The huge jump came after the company reported the results Thursday evening from a phase 2b/3 clinical study evaluating Anavex 2-73 (blarcamesine) in treating early Alzheimer's disease.
Clinical results nearly always serve as key catalysts -- either positive or negative -- for biotech stocks. That's especially the case with stocks of companies that don't have any products on the market yet. Anavex is such a company. Its Anavex 2-73 is one of only two clinical-stage candidates in the biotech's pipeline.
The oral Anavex 2-73 therapy met the primary and secondary endpoints of the trial, with patients receiving the therapy experiencing statistically significant improvement in cognition. Anavex said that the candidate's safety profile also appeared to be relatively good.
Source Fool.com
