Anavex Life Sciences Corp (NASDAQ: AVXL) presented some very positive news this morning, exciting investors and sending the stock on a run for the top. The data was presented in a late-breaking presentation at a large medical conference. Today, we’ll talk about:
- The presentation;
- what we’re seeing from AVXL as a result;
- and what we’ll be watching for from the stock ahead.
AVXL Gains On Data Presentation
As mentioned above, Anavex Life Sciences is having a great day in the market today after the company announced the presentation of data. The data, surrounding ANAVEX 2-73 was presented this morning at the 2018 Clinical Trials on Alzheimer’s Disease Meeting.
The data show that at 148 weeks into the five-year extended Phase 2a clinical study of ANAVEX®2-73, data confirmed a significant association between the treatment concentration and both exploratory functional and congnitive endpoints. This was measured by the Alzheimer’s Disease Cooperative Study-Activities of Daily Living evaluation as well as the Mini Mental State Examination. Ultimately, the data AVXL released show that higher concentrations of the treatment lead to better responses.
In a statement, Christopher U Missling, Ph.D., President and CEO at AVXL, had the following to offer:
We are encouraged by these data which now show the clinical impact of ANAVEX®2-73 on patients who have been receiving therapy for almost three years… We continue to build on the body of clinical evidence to support the development of ANAVEX®2-73 as we further our recently initiated Phase 2b/3 study, and we will continue our targeted precision medicine approach to advance ANAVEX®2-73 as a potential therapeutic option for patients with Alzheimer’s disease who will most benefit from treatment.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Anavex Life Sciences, the news proved to be overwhelmingly positive. After all, Alzheimer’s disease is a very difficult disease to treat and the company’s drug is showing promise in a large patient population. So, it comes as no surprise that excited investors are sending the stock screaming for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:35), AVXL is trading at $2.73 per share after a gain of $0.31 per share or 12.81% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on AVXL. In particular, we’re interested in following the story surrounding the continued development of ANAVEX®2-73 as the treatment seems to be showing promising results. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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