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Anavex Life Sciences Submits Plan to Regain Compliance With Nasdaq Timely Filing Rule

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Anavex Life Sciences (AVXL) has submitted a plan to regain compliance with the Nasdaq listing rule requiring timely filing of financial reports with the Securities and Exchange Commission, the company said Monday in an 8K filing.

The plan is currently under review by Nasdaq and if it is accepted, the exchange may grant an extension for the company to regain compliance. If it is not accepted, the company can request a hearing, Anavex said.

On May 20, Anavex received a deficiency notice due to its inability to timely file its quarterly report for the period ended ended March 31, the company said.

Anavex shares were 1.9% higher in Monday trading.

Price: $2.44, Change: $+0.04, Percent Change: +1.88%

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Anavex Life Sciences Submits Plan to Regain Compliance With Nasdaq Timely Filing Rule | FINWIRES