Anavex Life Sciences Corp. (Nasdaq: AVXL) continues to move steadily higher in recent weeks now looking to take out the highs of $6.31 reached in February. Many investors remember Anavex was the darling of small caps back in 2015 when the stock ran from pennies to over $14 per share and uplisted to the NASDAQ from the OTCQB.
Anavex has been busy announcing on June 1, the first patient was dosed in the EXCELLENCE Phase 2/3 ANAVEX®2-73-RS-003 clinical trial for the treatment of Rett syndrome with ANAVEX®2-73 (blarcamesine). The Phase 2/3 study will use a convenient once-daily oral liquid ANAVEX®2-73 (blarcamesine) formulation to treat Rett syndrome.
Anavex Life Sciences Corp. (Nasdaq: AVXL) is a publicly traded biopharmaceutical company dedicated to the development of differentiated therapeutics for the treatment of neurodegenerative and neurodevelopmental disorders including Alzheimer’s disease, Parkinson’s disease, Rett syndrome and other central nervous system (CNS) diseases, pain and various types of cancer.
Anavex’s lead drug candidate, ANAVEX®2-73 (blarcamesine), recently completed a successful Phase 2a clinical trial for Alzheimer’s disease. ANAVEX®2-73 (blarcamesine) is an orally available drug candidate that restores cellular homeostasis by targeting sigma-1 and muscarinic receptors. Preclinical studies demonstrated its potential to halt and/or reverse the course of Alzheimer’s disease. ANAVEX®2-73 (blarcamesine) also exhibited anticonvulsant, anti-amnesic, neuroprotective and anti-depressant properties in animal models, indicating its potential to treat additional CNS disorders, including epilepsy. The Michael J. Fox Foundation for Parkinson’s Research previously awarded Anavex a research grant, which fully funded a preclinical study to develop ANAVEX®2-73 (blarcamesine) for the treatment of Parkinson’s disease. ANAVEX®3-71, which targets sigma-1 and muscarinic receptors, is a promising preclinical drug candidate demonstrating disease-modifying activity against the major hallmarks of Alzheimer’s disease in transgenic (3xTg-AD) mice, including cognitive deficits, amyloid and tau pathologies. In preclinical trials, ANAVEX®3-71 has shown beneficial effects on mitochondrial dysfunction and neuroinflammation.
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MicroCapDaily has been reporting on AVXL for many years; we first reported on Anavex on April 2, 2015 stating at the time: Anavex Life Sciences Corp (OTCMKTS:AVXL) is making an explosive move up on accelerating volume after reversing off $0.15 a share. The stock currently trades at a fraction of the $5 per share it commanded back in 2008. After years of steep decline AVXL has come back to life in a big way; the CEO was recently at the 2015 AD/PD(TM) Conference where Anavex unveiled new promising preclinical data for both ANAVEX 2-73 and ANAVEX 3-71 in two separate presentations.
In 2015 we reported on AVXL stating at the time: AVXL is the penny stock that rose out of the bb’s and attained a NASDAQ listing transforming in the process from illiquid at pennies to a volume leader that topped $14 a share and attracted legions of followers. The party stopped once AVXL up-listed to the NASDAQ; while the Company had just reported positive safety and cognitive efficacy data for ANAVEX 2-73 the market wasn’t buying it yet and shorts attacked with a vengeance breaking off the legs that took AVXL to $14.83 highs.
On July 1 AVXL announced the first patient was dosed in the EXCELLENCE Phase 2/3 ANAVEX®2-73-RS-003 clinical trial for the treatment of Rett syndrome with ANAVEX®2-73 (blarcamesine). The Phase 2/3 study will use a convenient once-daily oral liquid ANAVEX®2-73 (blarcamesine) formulation to treat Rett syndrome. Safety and efficacy will be investigated in at least 69 patients over a 12-week treatment period including ANAVEX®2-73-specific precision medicine biomarkers. All patients who participate in the study will be eligible to receive ANAVEX®2-73 (blarcamesine) under a voluntary open label extension protocol.
This represents the 3rd ongoing clinical study in Anavex’s Rett Syndrome Program: U.S. RTT (ANAVEX®2-73-RS-001)1, AVATAR (ANAVEX®2-73-RS-002)2 and EXCELLENCE (ANAVEX®2-73-RS-003)3. ANAVEX®2-73 (blarcamesine) had previously received Fast Track designation, Rare Pediatric Disease designation and Orphan Drug designation from the FDA for the treatment of Rett syndrome.
— Bio_Gerard (@gcassidy718) June 29, 2020
Currently trading at a $290 million market valuation, Anavex has $26 million in the treasury, with very little debt and is pre revenue. AVXL is one stock that has got everyone’s attention; the Company is sitting on drugs in development that could potentially turn serveral enormous markets on their head. Anavex has been busy announcing on June 1, the first patient was dosed in the EXCELLENCE Phase 2/3 ANAVEX®2-73-RS-003 clinical trial for the treatment of Rett syndrome with ANAVEX®2-73 (blarcamesine). The Phase 2/3 study will use a convenient once-daily oral liquid ANAVEX®2-73 (blarcamesine) formulation to treat Rett syndrome. We will be updating on AVXL when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with AVXL.
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Disclosure: we hold no position in AVXL either long or short and we have not been compensated for this article.