Fed’s Powell opens door to potential rate cuts at Jackson Hole
NEW YORK - Anavex Life Sciences Corp. (NASDAQ: AVXL), a biopharmaceutical company developing treatments for central nervous system (CNS) disorders, has announced the completion of enrollment for its Phase 2 clinical trial of ANAVEX®3-71, a potential new treatment for schizophrenia. With a market capitalization of $808 million and a robust financial health score rated as "GOOD" by InvestingPro, the company maintains strong liquidity with a current ratio of 9.45. The study, designated ANAVEX3-71-SZ-001, has enrolled a total of 71 participants, with 16 in Part A and 55 in Part B.
Part A of the trial, focused on multiple ascending doses, has already yielded preliminary safety data and electroencephalography (EEG) biomarker results. Part B aims to provide more extensive clinical and biomarker data on the efficacy and safety of ANAVEX®3-71 over a longer treatment period. According to InvestingPro analysis, Wall Street analysts maintain a highly bullish outlook on the company, with price targets ranging from $15 to $46 per share.
Christopher U. Missling, PhD, President and CEO of Anavex, expressed gratitude towards the patients and investigators involved in this first clinical efficacy trial of ANAVEX®3-71. He highlighted the significant unmet need for a drug that can effectively address all symptoms of schizophrenia without the side effects typically associated with standard antipsychotic medications.
ANAVEX®3-71 is an oral drug that acts as a dual SIGMAR1 receptor agonist and M1 positive allosteric modulator, which may treat all symptom domains of schizophrenia. The company expects to report top-line data from this study in the second half of 2025.
Schizophrenia affects approximately 24 million people globally, including 2.8 million in the U.S., and is characterized by symptoms that include hallucinations, delusions, withdrawal from others, and cognitive deficits. Current treatments often provide incomplete relief or cause unacceptable side effects, leaving a considerable portion of patients with inadequate management of their condition.
This press release contains information about investigational uses of a drug in development, which has not yet been proven safe or effective. There is no assurance that the investigational drug will complete clinical development or receive health authority approval.
The information reported is based on a press release statement from Anavex Life Sciences Corp.
In other recent news, Anavex Life Sciences has reported its fiscal first-quarter financial results for 2025, revealing a net loss of $0.14 per share, which was better than the $0.17 per share loss anticipated by analysts at H.C. Wainwright. The company maintains a strong cash position of $120.8 million, expected to support operations for approximately four years. H.C. Wainwright reaffirmed its Buy rating and $42 price target for Anavex, reflecting confidence in the company’s financial health and strategic direction. Anavex’s Alzheimer’s treatment, blarcamesine, demonstrated significant clinical benefits in ongoing trials, showing a 36.3% slowdown in disease progression over 48 weeks. The treatment has maintained a favorable safety profile over extended periods, with no deaths attributed to the drug. These results were presented at the AD/PDTM 2025 Conference, and H.C. Wainwright suggests uninterrupted treatment may offer a disease-modifying effect. European regulators recently rejected a competing Alzheimer’s treatment by Eli Lilly, which emphasizes the importance of Anavex’s progress in the field. Anavex’s recent developments highlight its potential as a competitive player in the Alzheimer’s treatment market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.