Anavex Life Sciences Corp (OTCMKTS:AVXL) reported data released by the National Academy of Sciences is promising. The data shows that when sigma-1 receptors are activated with agonists, it can mitigate the harmful impact of tau dysfunction. The problem of abnormal tau phosphorylation is widely found in multiple neurodegenerative diseases. As a matter of fact, Alzheimer’s is one of the neurodegenerative diseases associated with the same problem. The list of other diseases includes progressive supranuclear palsy and frontotemporal dementia.
Anavex stated that it has been previously noted that ANAVEX 2-73 aiming the sigma-1 receptor in company’s dose-dependent study, blocked tau as well as amyloid-beta proteins. It even blocked memory deficits in a study of mouse model of Alzheimer’s. This data was reported in the international scientific publication of Neuropsychopharmacology. The data showed two major benefits which can stop, slow or reverse Alzheimer’s disease. The lead drug is in the Phase II a study, and the preliminary data is expected to be released around 3Q2015.
The encouraging data
The Chief Executive Officer of Anavex Life Sciences Corp (OTCMKTS:AVXL), Christopher U. Missling said that they are encouraged to see further potential in sigma-1 drug medications including ANAVEX 2-73. The recent data highlights that they can block tau toxicity in Alzheimer’s and also probably in other CNS diseases. The team is excited by the positive data and looks forward to the release of preliminary data for the Phase II a Alzheimer’s study later this year.
The company ended the second quarter of 2015 with $6.3 million cash and cash equivalents in hand. The cash balance shrunk in the quarter due to the advancement in operational and clinical trials activities. However, Anavex is confident that it has ample cash to carry out operations for at least next two years. The company intends to use the cash to complete the ongoing studies of Anavex Plus and Anavex 2-73.