Anavex Life Sciences Corp (AVXL)

[Gator328]

It all depends on perspective. For those who believed that Anavex had sufficient runway with $17M in the bank, it's not good. But the writing was on the wall that more shares would be needed and before all is said and done, AVXL would end up pushing the limit of the 100M authorized share count.

I suspect we will see some tricky maneuvering to circumvent the A/S. Possibly another reverse split or voting to increase the limit.

At $5/share, that's 50M Missling proposes to sell. that puts AVXL well above the 100M limit.