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Stock Alert: Anavex Life Sciences Gains 18% On Positive Study Results For Anavex2-73

Anavex Life Sciences Corp. (AVXL) shares are rising more than 18 percent on Monday morning trade. The company announced positive results from the U.S. Phase 2 study of ANAVEX 2-73 (blarcamesine), the company's drug candidate for the treatment of female adults with Rett syndrome.

The clinical stage biopharmaceutical company said Anavex 2-73 could activate the sigma-1 receptor that could result in restoration of complete housekeeping function with the body and help in restoring neural cell homeostasis and promoting neuroplasticity.

Currently, shares are at $26.28, up 18.70 percent from the previous close of $22.14 on a volume of 6,954,157. The shares have traded in a range of $3.65-$28.70 on average volume of 1,580,946.

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