Anavex Sciences stock surges 27% on positive earnings and acceptance of Alzheimer's drug in Europe

From StockTwits: 2024-12-23 14:14:28

Anavex Life Sciences Corp. saw a 27% surge in shares following positive earnings and regulatory progress in Europe. The company reported a fourth-quarter loss of $11.6 million, with a narrower per-share loss than expected. With $132.2 million in reserves, Anavex has a four-year runway at current burn rates. The European Medicines Agency accepted the Marketing Authorization Application for blarcamesine, an investigational oral drug for Alzheimer’s. Retail investors on Stocktwits praised the news, with sentiment shifting to ‘bullish.’ Anavex shares are up 88% year-to-date, with D. Boral Capital reiterating a ‘Buy’ rating with a $46 price target.



Read more at StockTwits: Anavex Sciences Soars On Earnings Relief, EU Filing Acceptance For Alzheimer’s Drug: Retail’s Overjoyed