Anavex Life Sciences Corp Sharply Higher On Favorable Drug News

Anavex Life Sciences Corp

shares are trading higher by $2.65 at $5.89 in Wednesday's session. The catalyst for the rally is the announcement the company will be moving forward with its development program for ANAVEX 2-7 (drug candidate for Alzheimer's and other nervous system diseases. After a higher open, it retreated $0.23 to $3.87 before resuming its move higher. So far, it ha almost reach the $6 handle as $5.98 currently stands as the high for the day. That is just above its November 12 high ($5,92) and shy of its November 11 high ($6.44).

Do you like this article? Do you have suggestions for improvement? Please email feedback@benzinga.com.