Anavex Life Sciences Corp (OTCMKTS:AVXL) President and the CEO Christopher U. Missling presented in the World Orphan Drug Congress. During the event, he discussed the prominent role of sigma-1 receptors in many other indications in addition to Alzheimer.
The CEO of Anavex informed that the Phase II a trial of ANAVEX plus as well as of ANAVEX 2-73 in subjects suffering from Alzheimer is in process. The studies are advancing as planned and the initial findings will be released by the end of third quarter of the fiscal. At the same time, the company is also extending the advancement activities of ANAVEX 2-73 into orphan CNS diseases. The problem affects a small group of the population.
The unmet needs
Anavex CEO further said that the other indications are consistent with the positive effects of the company’s drug candidate ANAVEX 2-73 on neuroprotection, calcium modulation, cognitive improvement, mitochondria dysfunction and protein misfolding. Studying the effects of receptors on unusual CNS diseases act as a strong base for the company’s initiatives to prove it as an effective drug for treatment of numerous neurodegenerative diseases.
Presentation of data
Anavex Life CEO Dr. Missling will highlight new preclinical epilepsy results next month when he participates in the Antiepileptic Drug Trials Conference. In February, the company recorded encouraging preclinical data for lead drug candidate ANAVEX 2-73 for epilepsy. The drug has productively accomplished a Phase one clinical study, in which it was recorded to be safe and effective. After the promising results achieved in first phase, it has moved into Phase II a clinical study.
On Monday’s trading session, the stock price of Anavex dropped more than 8% to close the trading session at $0.395. The decline came at a share volume of 1.92 million compared to share volume of 1.56 million. The high for the day was $0.45.