Anavex Life Sciences Stock Rises After Experimental Alzheimer’s Drug Slows Cognitive Decline In Study

Anavex Life Sciences Corp. (AVXL) on Tuesday announced that its experimental Alzheimer’s drug demonstrated cognitive stabilization in patients with early Alzheimer’s disease in a study.

After 48 weeks, patients receiving 30 mg once-daily oral Blarcamesine in a precision medicine population demonstrated barely detectable cognitive decline on all standard scales for measuring cognitive decline, comparable to the minimal decline in pre-dementia aging adults.

Shares of the company rose 2% on Tuesday morning at the time of writing. On Stocktwits, retail sentiment around AVXL stock jumped from ‘bearish’ to ‘neutral’ territory over the past 24 hours, while message volume rose from ‘low’ to ‘normal’ levels.

The company said that the drug caused about an 84.7% reduction in cognitive decline as compared to placebo on a standardized neuropsychological test used in Alzheimer's disease research to measure cognitive function.

“Today’s new clinical efficacy data update from our Phase IIb/III trial is critical, as it adds contemporary context to Precision Medicine data showing strong protection from Alzheimer’s disease with an oral once-daily potential solution with the aim to alleviate significant medical and economic burden,” said Juan Carlos Lopez-Talavera, Head of Research and Development of Anavex.

Anavex will continue to evaluate trial data, which will be published and presented at international conferences, the company said.

Anavex is also studying Blarcamesine, its lead candidate, in dementia caused by Parkinson's disease, a neurodegenerative brain condition, and in patients with Rett syndrome, a rare genetic neurological and developmental disorder that affects the way the brain develops.

AVXL stock is down 12% this year but up approximately 84% over the past 12 months. 

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