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Anavex Life Sciences

Anavex Life Sciences doses patients in Phase 2 ANAVEX2-73 Parkinson disease dementia study

The biotech also has clinical programs for the drug for the treatment of Alzheimer’s disease and Rett Syndrome, a rare neurological disorder that occurs mainly in girls

A researcher in a lab
The company has initiated an Alzheimer’s disease trial for ANAVEX2-73

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.

READ: Anavex Life Sciences shares rise after FDA gives green light on Phase 2 trial

“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 $22.9 million on its books as of September 30, 2018.

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]

Follow her on Twitter@UttaraProactive 

Quick facts: Anavex Life Sciences

Price: $2.53

Market: NASDAQ
Market Cap: $133.21 m
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