avx on bloomberg news

Oct. 14 (Bloomberg) -- Avexa Ltd., the developer of an experimental HIV drug, had the biggest two-day gain in almost seven months in Australian trading after saying it’s courting investors.

Avexa rose 16 percent to 18 Australian cents as of 11:16 a.m. Sydney time, taking its two-day gain to 38 percent, the most since March 17. More than 14 million shares were traded today, nine times the three-month daily average.

The Melbourne-based company, which has no approved products and has never made a profit, said in a statement on Oct. 2 that it will close a late-stage patient study of its apricitabine HIV treatment and start analyzing the data. Avexa plans to announce the results of the trial in the first quarter of 2010, it said.

“We’ve just been talking to people about that, and that’s created some interest within the market,” Julian Chick, Avexa’s chief executive officer, said in a phone interview after the close of trading yesterday. He said the people were retail and institutional investors without giving more detail.