Anavex Life Sciences Corp
NASDAQ:AVXL
Anavex Life Sciences Corp
Anavex Life Sciences Corp. is a clinical stage biopharmaceutical company, which engages in the development of different therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases. The company is headquartered in New York City, New York and currently employs 25 full-time employees. The company went IPO on 2006-04-13. The firm is engaged in the development of differentiated therapeutics for the treatment of neurodegenerative and neurodevelopmental disorders. The Company’s lead compound ANAVEX2-73 is being developed to treat Alzheimer’s disease, Parkinson’s disease, and other central nervous system diseases, including rare diseases, such as Rett syndrome, a rare severe neurological monogenic disorder caused by mutations in the X-linked gene, methyl-CpG-binding protein 2 (MECP2). Its product candidates also include ANAVEX 3-71, ANAVEX 1-41, ANAVEX 1066, and ANAVEX 1037. ANAVEX 3-71 is a central nervous system (CNS) penetrable potential disease modifying treatment for cognitive impairments. ANAVEX 1-41 is a sigma-1 agonist. ANAVEX 1066, a mixed sigma-1/sigma-2 ligand, is designed for the potential treatment of neuropathic and visceral pain. ANAVEX 1037 is designed for the treatment of prostate and pancreatic cancer.
Anavex Life Sciences Corp. is a clinical stage biopharmaceutical company, which engages in the development of different therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases. The company is headquartered in New York City, New York and currently employs 25 full-time employees. The company went IPO on 2006-04-13. The firm is engaged in the development of differentiated therapeutics for the treatment of neurodegenerative and neurodevelopmental disorders. The Company’s lead compound ANAVEX2-73 is being developed to treat Alzheimer’s disease, Parkinson’s disease, and other central nervous system diseases, including rare diseases, such as Rett syndrome, a rare severe neurological monogenic disorder caused by mutations in the X-linked gene, methyl-CpG-binding protein 2 (MECP2). Its product candidates also include ANAVEX 3-71, ANAVEX 1-41, ANAVEX 1066, and ANAVEX 1037. ANAVEX 3-71 is a central nervous system (CNS) penetrable potential disease modifying treatment for cognitive impairments. ANAVEX 1-41 is a sigma-1 agonist. ANAVEX 1066, a mixed sigma-1/sigma-2 ligand, is designed for the potential treatment of neuropathic and visceral pain. ANAVEX 1037 is designed for the treatment of prostate and pancreatic cancer.
Cash Position: Anavex ended the quarter with $131.7 million in cash and no debt, giving it over 3 years of cash runway at current spending rates.
Operating Expenses: Both research and development and general and administrative expenses declined significantly year-over-year due to lower manufacturing and clinical trial activities.
Regulatory Progress: The key Alzheimer’s drug blarcamesine is under reexamination with the EMA after an initial negative opinion. The process is expected to conclude in the first half of the year.
FDA Engagement: Anavex had a productive Type C meeting with the FDA for blarcamesine, and a filing is planned once the full data package is ready.
Pipeline Activities: New clinical trials are planned in Parkinson’s disease, Fragile X, and schizophrenia. Compassionate use programs are underway for Rett syndrome and Alzheimer’s.
Access AD Program: Anavex will participate in a large, EU-funded real-world clinical study for blarcamesine in early Alzheimer’s as part of the Access AD initiative.
