NEW YORK, NY / ACCESSWIRE / July 4, 2018 /
Health stocks Anavex Life Sciences Corp. and Juniper Pharmaceuticals were both exploding in Tuesday trading on positive developments. Anavex announced it has gained approval to begin Phase 2b/3 Clinical Trial of ANAVEX®2-73 for the treatment of early Alzheimer’s Disease while Juniper Pharmaceuticals revealed it is being acquired by Catalent, Inc.
RDI Initiates Coverage on:
Anavex Life Sciences Corp.
Juniper Pharmaceuticals, Inc.
Anavex Life Sciences Corp. shares closed up 43.61% on about 9 million shares traded on Tuesday and was further up about 4% in after-hours trading. The stock's average trading volume is just about 676,000 shares. Shares headed higher after Wall Street learned that the company announced approval from the Australian Human Research Ethics Committee to initiate its Phase 2b/3 trial evaluating investigational therapy ANAVEX2-73 in early Alzheimers’ disease. The Phase 2 programs to evaluate ANAVEX2-73 in Rett syndrome and Parkinson’s disease indications will begin in H2 2018. CEO Christopher U Missling, PhD, remarked, "We are extremely pleased to gain approval to initiate the ANAVEX®2-73 Phase 2b/3 study for the treatment of early Alzheimer’s disease, an area of very high unmet need for the growing number of patients around the world."
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Juniper Pharmaceuticals, Inc. shares closed up 31.61% on about 1.6 million shares traded yesterday. Average trading volume for the stock is only about 928,000 shares. The healthcare company saw big gains after it announced that it has entered into a definitive agreement with Catalent, Inc. where the latter company will acquire all of the outstanding shares of Juniper at a price of $11.50 per share in a cash transaction. CEO of Juniper, Alicia Secor, remarked, "This transaction, which has been approved unanimously by the Juniper Board of Directors following the recommendation of a special committee of independent directors, is the culmination of a diligent and extensive process to pursue strategic alternatives in order to maximize shareholder value. Catalent's offer to acquire Juniper recognizes the value of Juniper's businesses, Juniper Pharma Services and CRINONE." President of Catalent Oral Drug Delivery commented, "Juniper's expertise and capabilities in pharmaceutical services will further support Catalent's strategic goal to be the comprehensive partner of choice for pharmaceutical innovators."
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