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Of course the D on the AVXLD will only be there for a total of twenty days, this following the reverse split. There is a huge buzz right now for Anavex Life Sciences Corp. (OTCQB: AVXL – aka – AVXLD).
We all know that reverse splits are supposed to be the worst thing a stock can do.
Guess what? SO FAR… AVXL has shown us otherwise! This is RARE!
Let’s look at some of that buzz now:
Bruce includes us in his favs, although I don’t agree on the HIMX!
— Bruce Shipper (@bsbct) October 7, 2015
Dominic does not seem to appreciate Modern Rock’s opinion, but welcomes him anyway:
@modern_rock you obviously don’t know anything about $avxl. But, thanks for coming
— SFDom (@DominicG64) October 7, 2015
Walt has it ALL WRONG… He needs to get a colonoscopy to see if it is in his:
— Walt (@WaltSC1) October 7, 2015
Joseph Recognizes the Haters are Out. But, they sold already and this is up. Of course they got to hate… that others are reaping the rewards!
— joseph zamudio (@josephzamudio2) October 7, 2015
@WunderStrike sees sellers. I don’t!
— FairviewInvestor (@WunderStrike) October 7, 2015
Sofiane offers an opinion:
— SOFIANE (@pennystock92) October 7, 2015
Hunter needs to open his eyes to see it all:
I dont see much…not going to do much. Watching $AVXL though; hype press releases are never a good long-term sign.
— Hunter Straus (@hunterstraus) October 7, 2015
Maybe Modern Rock should NOT sell? He makes that call!
— Modern_Rock (@modern_rock) October 7, 2015
Peter Pan sees everything:
Love it $avxl get everyone and their mother short the stock then split it now it’s up 30% from yesterday’s close split adjusted
— Peter Pan (@petertrades) October 7, 2015
Melissa sees the promise:
— Melissa (@go2sleepjj) October 7, 2015
Bio Stocks Trade Marks Victory with a Move Up:
— Bio Stocks™ (@BioStocks) October 7, 2015
Kyle sees the RS done right:
— Kyle Wagner (@kwagner19xx) October 7, 2015
Joseph suggest that others can FK an expose and send it off on a poorly spelled horse:
— joseph zamudio (@josephzamudio2) October 7, 2015
Wade was at this one early.. his time:
— Wade Y (@wy3134) October 7, 2015
The News of the Reverse Split:
Anavex Prepares for Uplisting to NASDAQ, Announces Reverse Stock Split
Oct 06, 2015
OTC Disclosure & News Service
NEW YORK, Oct. 06, 2015 (GLOBE NEWSWIRE) — Anavex Life Sciences Corp. (“Anavex” or the “Company”) (OTCQX:AVXL), a clinical-stage biopharmaceutical company developing drug candidates to treat Alzheimer’s disease, other central nervous system (CNS) diseases, pain, and various types of cancer, today announced that it is finalizing an application to uplist trading of its common stock to the NASDAQ Capital Market. To meet the conditions of a NASDAQ listing, the Company announces a one-for-four (1-for-4) reverse stock split of its authorized, issued and outstanding common shares. The Company’s common stock will begin trading on a post-split basis at the opening of trading on October 7, 2015.
“It is our belief that uplisting to a major exchange will allow a broader base of worldwide institutions, funds and retail investors to participate in our future success,” said Christopher U. Missling, PhD, President and Chief Executive Officer of Anavex. “This reverse stock split will help us meet the conditions to finalize our application for uplisting to NASDAQ.”
Following the reverse stock split, every four shares of issued and outstanding common stock will be converted to one post-reverse split share. All fractional shares will be rounded up to the nearest whole share.
The reverse stock split will reduce the authorized shares of common stock from 400,000,000 prior to the split to 100,000,000 after the reverse stock split.
As of October 7, Anavex common stock will trade under the ticker symbol AVXLD for a period of 20 business days. After that time or earlier once NASDAQ approves the uplisting requirements, the “D” will be removed and our Company’s symbol will once again be AVXL. A new CUSIP number will be assigned to the Company’s common stock as a result of the reverse split.
Shareholders should direct any questions concerning the reverse split to their bank or broker or the Company’s transfer agent, Nevada Agency and Trust at +1 (775) 322-0626.
About Anavex Life Sciences Corp.
Anavex Life Sciences Corp. (OTCQX:AVXL) is a publicly traded biopharmaceutical company dedicated to the development of novel drug candidates to treat Alzheimer’s disease, other central nervous system (CNS) diseases, pain, and various types of cancer. Anavex’s lead drug candidate, ANAVEX 2-73, is currently in a Phase 2a clinical trial for Alzheimer’s disease. Initial positive data was presented at AAIC 2015 and full PART A data is expected by year end. ANAVEX 2-73 is an orally available drug candidate that targets sigma-1 and muscarinic receptors and successfully completed Phase 1 with a clean data profile. Preclinical studies demonstrated its potential to halt and/or reverse the course of Alzheimer’s disease. It has also exhibited anticonvulsant, anti-amnesic, neuroprotective and anti-depressant properties indicating its potential to treat additional CNS disorders. Further information is available at www.anavex.com.
Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the risks set forth in the Company’s most recent Annual Report on Form 10-K filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and Anavex Life Sciences Corp. undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.