Anavex Life Sciences Corp (OTCMKTS:AVXL) Christopher U. Missling, the President and Chief Executive Officer, participated in the World Orphan Drug Congress. In a presentation Dr. Missling highlighted the role of sigma-1 receptors in other indications beyond Alzheimer.
Dr. Missling of Anavex stated that the Phase 2a trial of ANAVEX plus and ANAVEX 2-73 in patients suffering from Alzheimer is underway. The trials are going on as planned and the initial data will be presented by the third quarter of the current fiscal. Simultaneously, the company is able to extend the advancement of ANAVEX 2-73 into orphan CNS diseases, which affect a small percentage of the population with considerable unmet needs.
Dr. Missling further added that these additional indications are in par with the positive effects of ANAVEX 2-73 on calcium modulation, mitochondria dysfunction, cognitive improvement, protein misfolding and neuroprotection. The analysis of the impact of sigma-1 receptors on CNS diseases supports Anavex’s measures to validate ANAVEX 2-73 as a probable platform drug for numerous neurodegenerative diseases apart Alzheimer’s.
Presentation of data
Anavex Life Sciences Corp (OTCMKTS:AVXL) announced that Dr. Missling will put light on new preclinical epilepsy data on May 15. He will participate in the upcoming Antiepileptic Drug Trials XIII Conference. Back in February, the company reported positive preclinical results for ANAVEX 2-73 for the probable treatment of epilepsy. The results highlight significant improvement in the minimization of seizures associated with the three generations of epilepsy drugs available in the market. The drug has successfully concluded a Phase I clinical study, in which it demonstrated to be safe, and is now into Phase II a clinical study for Alzheimer’s disease.
ON Thursday’s trading session, the stock price of Anavex declined more than 7% to close the trading session at $0.417. The decline came at a share volume of 3.58 million compared to share volume of 1.38 million.