The Anavex Life Sciences Corp (NASDAQ: AVXL) stock price rallied 67.3% after releasing the phase 2b/3 clinical trial of its oral ANAVEX®2-73 (blarcamesine) for the treatment of mild cognitive impairment (MCI) due to Alzheimer’s disease (AD) and mild AD (collectively known as early AD).
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ANAVEX®2-73 met its primary endpoints and critical secondary endpoint with statistically significant results. The clinical-stage company expressed its intention to meet with regulators in the U.S., Asia Pacific and Europe to make the treatment available to AD patients in these regions.
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The data from the clinical trials suggest that ANAVEX®2-73 (blarcamesine) could be crucial to promoting neural and restoring neural cell homeostasis in patients with Alzheimer's.
The ANAVEX®2-73-AD-004 trial was a randomized, double-blind, multicenter, placebo-controlled clinical study that enrolled 509 patients with early-onset Alzheimer’s disease over 48 weeks. The patients received mid to high doses of a placebo or ANAVEX®2-73.
The data released yesterday was the topline data, which was presented at the Clinical Trials on Alzheimer’s Disease (CTAD) Congress 2022, December 1, 2022, at 4:30 pm PT in San Francisco, CA.
Anavex Life Sciences is currently analysing the data collected from the clinical trial with the ultimate goal of submitting the final analysis for publication in a peer-reviewed medical journal. The open-label portion of the extension study will continue following participants over 96 weeks.
The Alzheimer’s patients on ANAVEX®2-73 treatment demonstrated visible improvement during the 48 weeks, including reduced clinical declines as measured on the global functional and cognitive scales.
Edward R Hammond, MD, PhD, MPH, Anavex’s CEO, said: “We are very pleased to see such positive clinical data in patients with Alzheimer’s disease, which is otherwise a progressive disease, thereby emphasizing the potentially significant implications these findings have for patients, caregivers, and healthcare systems worldwide,”
Adding:
“We intend to discuss these findings with regulatory authorities in the context of the ongoing clinical development of ANAVEX®2-73 in this indication, with the goal of providing a much-needed treatment to the millions of patients living with Alzheimer’s disease.”
*This is not investment advice.
The Anavex Life Sciences (AVXL) stock price.
The Anavex Life Sciences stock price rallied 67.31% to trade at $14.84, rising from Thursday’s closing price of $8.87.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.