Anavex Life Sciences Corp. (AVXL) shares tanked more than 20% in Wednesday’s pre-market trade after the company announced that it has withdrawn its marketing authorization application for its Alzheimer’s drug, blarcamesine, in the European Union.
Anavex stated that the decision to withdraw the application follows feedback from the European Medicines Agency’s Committee for Medicinal Products for Human Use.
This comes two days after Anavex reported new data about blarcamesine, suggesting a slowdown in brain shrinkage.
Retail sentiment on Stocktwits around Anavex Life Sciences trended in the ‘extremely bullish’ territory at the time of writing.
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