Anavex Life Sciences Reports Narrower FY16 Loss Vs. Year Ago

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Anavex Life Sciences rose 8.3% Monday’s pre-market trade after the company reported financial results for the fiscal year 2016, with a loss that narrowed from the previous fiscal year.

For the twelve months ending Sept. 30, the clinical-stage biopharmaceutical company posted a net loss of $14.7 million, or $0.42 per share, compared with the prior year’s $12.1 million, or $0.65 loss per share.

Loss per share for this fiscal year was skewed by an increase in the weighted average number of shares outstanding to 35.2 million from last year’s 18.6 million shares.

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