The presumption of an efficient market would also be a dangerous presumption.
Anavex 2-73 beats SOC by a mile. Regulators in Span and Australia are likely to grant conditional approval as there is not other effective treatment for AZ and PDD on the market.
NONE of AVXL’s Inst’l investors IMHO really have the track record in biotechs; Nor is it a meaningful position to their $under mgt; AND their AVXL is at a LOSS AND Too Early in AVXL’s Clinical pipeline UNTIL AVXL nears reporting of significant results for them to ADD to lower their cost basis should it warrant that!
So IMHO premature self aggrandizement pervades this issue
I sold years ago >$10 and see this still as dead money: Sell on the news is what’s taken place along with derisking portfolios for this peaking of WW economic and US economy courtesy of WW debt buildup w/higher Int Rates Student Debt Crisis Growing etc.