Anavex Life Sciences Corp. (AVXL) is a leading biotherapeutics company engaged in the development of therapeutics for neurodegenerative and neurodevelopmental disorders. The pipeline candidate ANAVEX 2-73 is used in Alzheimer’s and Parkinson’s disease along with dementia and Rett syndrome. ANAVEX 3-71 is used in Alzheimer’s treatment along with mitochondrial dysfunction and neuroinflammation.
The price of AVXL stock during the regular trading on February 1, 2022, was last checked to be $10.75 with a 17.81% decline.
AVXL: Events and Happenings
On February 01, 2022, AVXL announced hopeful top-line outcomes in Phase 3 trials of ANAVEX 2-73 for treating Rett syndrome. The company also established a statistical development for the primary and secondary efficacy endpoint.
AVXL: CEO Comments
Speaking at the momentous occasion, the company’s CEO Christopher U Missling stated that the Phase 3 trials of ANAVEX®2-73 build on its potential to validate the meaningful developments in disease. He further added that the company is looking forward to continuing its successful journey.
On January 10, 2022, AVXL reported optimistic top-line outcomes from ANAVEX 3-71 Phase 1 clinical trial. The trials were performed for the Frontotemporal Dementia disorder.
On January 05, 2022, AVXL announced that the Executives presented at the H.C. Wainwright Virtual BioConnect 2022 Conference on January 10-13, 2022. On December 14, 2021, AVXL reported that the company’s management participated at the 40th Annual J.P. Morgan Healthcare Conference on January 13, 2022. On November 29, 2021, AVXL announced that the company’s Executives participated at the 4th Annual Evercore ISI HealthCONx Conference on December 2, 2021.
AVXL: Key Financials
On November 24, 2021, AVXL reported its financial results for the fiscal year ended September 30, 2021. Some of the key highlights are as follows.
Assets
Total assets of the company in fiscal 2021 were recorded to be $161.6 million.
Net Loss per Share
Basic and diluted net loss per share in fiscal 2021 was $37.9 million, or $0.54 compared with $26.3 million or $0.45 in the same period of 2020.
AVXL announced on November 10, 2021, about the company’s management participation at the Lausanne VIII Workshop on November 17, 2021.
Conclusion
AVXL stock performance was not good during the last month as it dipped by 26%. The current decline in early trading is likely attributed to the recently issued positive primary and secondary endpoints outcomes. The financial experts are hoping that the company’s stock will bounce back to good shape in a shorter duration of time.
