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Tag: Anavex Life Sciences Corp

  • Here’s why Anavex Life Sciences Corp. (AVXL) Stock Sinking in Early Trading

    Here’s why Anavex Life Sciences Corp. (AVXL) Stock Sinking in Early Trading

    Anavex Life Sciences Corp. (AVXL) is a leading biotherapeutics company engaged in the development of therapeutics for neurodegenerative and neurodevelopmental disorders. The pipeline candidate ANAVEX 2-73 is used in Alzheimer’s and Parkinson’s disease along with dementia and Rett syndrome. ANAVEX 3-71 is used in Alzheimer’s treatment along with mitochondrial dysfunction and neuroinflammation.

    The price of AVXL stock during the regular trading on February 1, 2022, was last checked to be $10.75 with a 17.81% decline.

    AVXL: Events and Happenings

    On February 01, 2022, AVXL announced hopeful top-line outcomes in Phase 3 trials of ANAVEX 2-73 for treating Rett syndrome. The company also established a statistical development for the primary and secondary efficacy endpoint.

    AVXL: CEO Comments

    Speaking at the momentous occasion, the company’s CEO Christopher U Missling stated that the Phase 3 trials of ANAVEX®2-73 build on its potential to validate the meaningful developments in disease. He further added that the company is looking forward to continuing its successful journey.

    On January 10, 2022, AVXL reported optimistic top-line outcomes from ANAVEX 3-71 Phase 1 clinical trial. The trials were performed for the Frontotemporal Dementia disorder.

    On January 05, 2022, AVXL announced that the Executives presented at the H.C. Wainwright Virtual BioConnect 2022 Conference on January 10-13, 2022. On December 14, 2021, AVXL reported that the company’s management participated at the 40th Annual J.P. Morgan Healthcare Conference on January 13, 2022. On November 29, 2021, AVXL announced that the company’s Executives participated at the 4th Annual Evercore ISI HealthCONx Conference on December 2, 2021.

    AVXL: Key Financials

    On November 24, 2021, AVXL reported its financial results for the fiscal year ended September 30, 2021. Some of the key highlights are as follows.

    Assets

    Total assets of the company in fiscal 2021 were recorded to be $161.6 million.

    Net Loss per Share

    Basic and diluted net loss per share in fiscal 2021 was $37.9 million, or $0.54 compared with $26.3 million or $0.45 in the same period of 2020.

    AVXL announced on November 10, 2021, about the company’s management participation at the Lausanne VIII Workshop on November 17, 2021.

    Conclusion

    AVXL stock performance was not good during the last month as it dipped by 26%. The current decline in early trading is likely attributed to the recently issued positive primary and secondary endpoints outcomes. The financial experts are hoping that the company’s stock will bounce back to good shape in a shorter duration of time.

  • What Is Driving The Anavex (AVXL) Stock Higher In Premarket Trades?

    What Is Driving The Anavex (AVXL) Stock Higher In Premarket Trades?

    In pre-market trading hours on Monday, Anavex Life Sciences Corp. (AVXL) rose 27.96% to $31.67. At the end of the last trading session, AVXL stock price slipped -0.76% to $24.75. AVXL stock price ranged between $24.02 and $25.30.

    AVXL traded 2.11 million shares, which was lower than its average daily volume of 3.5 million shares over the past 100 days. In the last five days, AVXL stock has gained 11.79%, while in the last month, it gained 104.38%. AVXL stock is rising after a clinical trial announced improved results.

    Which trial did AVXL conduct?

    Anavex is a public company that develops differentiated therapeutics to treat neurological disorders and neurodegenerative diseases. This includes Alzheimer’s disease, Parkinson’s disease, Rett syndrome and other diseases related to the central nervous system (CNS), pain and cancer. As a result of a successful Phase 2, a clinical trial for Alzheimer’s disease, ANAVEX2-73 is the lead drug candidate by AVXL.

    A phase 2 proof-of-concept study of AVXL’s lead drug in Parkinson’s disease dementia was completed recently, as well as a phase 2 study in adults with Rett syndrome. AVXL believes that the easily accessible predictive biomarker combined with the observed efficacy is a consistent explanation of the efficacy in this second largest CNS indication with unmet medical need.

    In a report released today, Anavex reported that the predictive biomarkers of response that correlate significantly with clinical outcomes in clinical efficacy endpoints in primary and secondary endpoints.

    • Results came from the proof-of-concept randomized, double-blind, placebo-controlled Phase 2 trial in which 132 Parkinson’s patients were assigned equally to either 30 mg, 50 mg of ANAVEX 2-73 or a placebo.
    • In ANAVEX 2-73, the sigma-1 receptor (SIGMAR1) is activated.
    • SIGMAR1 activation resulted in the restoration of complete housekeeping functions within the brain and is pivotal in maintaining neuronal homeostasis and enhancing neuroplasticity.
    • A recent independent study by AVXL provides more evidence that SIGMAR1 activation is beneficial in compensating for chronic CNS diseases.
    • As a result of the easily accessible predictive biomarker coupled with the observed efficacy, AVXL believes that this is the second largest CNS indication where there is unmet medical need.

    Anavex announced last week that the previously announced registered direct offering to Deep Track Capital has closed. At $21.00 per share, AVXL plans to issue and sell 2,380,953 shares of its common stock. For AVXL’s offering, HC Wainwright & Co. served as the listing agent.

    What AVXL received?

    After deducting placement agent fees and other expenses from the proceeds, AVXL received approximately $50 million from the offering. Anavex (AVXL) plans to use sales proceeds from the offering for the advancement of its pipeline, for continuing operations, and general corporate purposes.