Anavex Files Definitive Proxy, Sets Sept. 24 Showdown with Activist PVG
AVXL sits 50% above its 52-week low of $2.255.
Summary
Anavex filed its definitive proxy and mailed a letter to stockholders, setting the annual meeting for September 24 with a record date of July 31. The board urges votes for its six nominees, highlighting recent actions including the appointment of interim CEO Dr. Terrie Kellmeyer and the nomination of two new independent directors. It attacks activist PVG's slate as lacking drug development and regulatory expertise, and notes PVG's 0.35% stake. This follows a series of SEC filings escalating the proxy fight, with the definitive filing marking the final step before the shareholder vote.
At the time of this announcement, AVXL was trading at $3.38 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $314.2M. The 52-week trading range was $2.26 to $11.70. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.