Why Anavex Life Sciences Stock Jumped Today

Shares of Anavex Life Sciences (NASDAQ: AVXL) -- a clinical-stage biopharmaceutical company -- rose by as much as 22.9% on Tuesday and closed the day's trading session up by 15.4%. Investors reacted with enthusiasm to Anavex releasing top-line results from a phase 2 clinical trial for one of its leading pipeline candidates, ANAVEX2-73. 

ANAVEX2-73 is being investigated as a potential treatment for several illnesses, including Rett syndrome, a rare genetic condition that affects brain development in girls. On Tuesday morning, Anavex released data from a phase 2 study for ANAVEX2-73 in adult female patients with Rett syndrome. The experimental medicine proved safe during the study -- which was the primary endpoint of the trial -- with no serious adverse events reported. 

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Source Fool.com