Anavex Life Sciences Corp (NASDAQ:AVXL) told analysts Wednesday that it has started enrolling and dosing patients for its phase two ANAVEX2-73 Parkinson’s disease dementia (PDD) study.
The New York-based biotech’s lead drug candidate ANAVEX 2-73 has already completed Phase 2a clinical trials for the treatment of Alzheimer's disease.
The drug is also in preclinical clinical trials to treat Rett Syndrome, a rare neurological disorder that occurs mainly in girls, epilepsy and Parkinson's disease dementia, a decline in reasoning that develops in many people living with Parkinson’s a year after diagnosis.
“We were pleased to report that we have successfully activated 100% of all planned clinical study sites representing 20 clinical trial sites for the Phase 2 ANAVEX2-73 Parkinson disease dementia study,” Anavex Life Sciences CEO Christopher Missling told analysts on a call Wednesday.
“Enrollment and dosing of patients is currently proceeding as planned,” he added.
The biopharma is proceeding with a phase two double-blind, randomized, placebo-controlled, 14-week safety and efficacy trial of ANAVEX2-73 for the treatment of Parkinson’s disease dementia.
Missling said the company had also successfully initiated a novel genomic marker driven later-stage CNS precision medicine trial for Alzheimer’s disease for ANAVEX2-73 entering fiscal 2019.
“The company has successfully activated 75% of all planned clinical study sites representing 9 clinical trial sites for the Phase 2b/3 ANAVEX2-73 Alzheimer disease study,” said Missling indicating that enrollment and dosing of patients was currently proceeding as planned.
Earnings in focus
The biotech logged a net loss for the year of $17.5 million, or $0.39 per share, compared to a net loss of $13.5 million, or $0.33 per share for the comparative year.
The biotech said that it had cash and equivalents of
Shares of the biotech fell nearly 3.3% to $2.05 Thursday in midday trade on a broad market pullback.
Contact Uttara Choudhury at [email protected]