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AveXis Inc. (AVXS) Has Jumped To A New High On Phase 1 Study Results

AveXis Inc. (AVXS) reported a fourth quarter net loss of $0.92 per share after the close Thursday, compared to the loss of $1.82 per share last year. The consensus estimate was for a loss of $0.80 per share.

The company also reported results from its Phase 1 clinical trial of AVXS-101 in spinal muscular atrophy Type 1. The results showed that the drug appears to have a favorable safety profile and to be generally well tolerated.

AveXis gapped open sharply higher Friday morning and is now up 11.51 at $84.29. The stock has been climbing for the past 3 weeks and has surged to a new high for the year.

by RTT Staff Writer

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