Full Press Release Details
Anavex Prepares for Uplisting to NASDAQ, Announces Reverse
NEW YORK, NY October 6, 2015 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
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
Forward-Looking Statements
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
For further information:
Anavex Life Sciences Corp.
Toll-free: 1-844-689-3939
Email: info@anavex.com
Shareholder & Media Relations
Toll-free: 1-866-505-2895
Outside North America: +1 (416) 489-0092
Email: ir@anavex.com