Last week, the stock price of Anavex Life Sciences Corp (OTCMKTS:AVXL) traded in a narrow range and closed the week at $1.34. The company, which is active in BioPharma industry, owns an impressive product portfolio of potential drug candidates targeting CNS disorders. The stock has remained in focus in this year and now the market cap of the company stands at close to $160 million.
Anavex became a star stock after it issued a PR in May disclosing the pre-clinical anti-seizure results of its investigational medication ANAVEX 2-73. It demonstrated the promising results in a presentation given at the Antiepileptic Drug Trials XIII conference. As per the presentation, the drug showed safety and efficacy in three pre-clinical models. Also, it indicated to have a potentially safe profile measured against other epilepsy drugs offered in the market.
Anavex Life Sciences Corp (OTCMKTS:AVXL) highlighted the cognitive-enhancing feature of the drug and stated that it can work as a differentiating factor. The past shows that seizures are responsible for neuro-cognitive impairments in various cases which can worsen following epilepsy drug treatment. Also, the focus was on the performance of lead drug in combination with epilepsy drugs available in the market.
After reporting the promising data, the company issued another PR stating that they are delighted with the article published in the National Academy of Sciences, which highlighted the role of sigma-1 receptor in treating Alzheimer’s disease.
The recent interest in Anavex’s stock can largely be attributed to the promising data of Anavex 2-73 in initial trials, which reveals that it can obstruct amyloid-beta and tau proteins. Also, the past proves that all the companies working to develop the treatments for AD have remained the favorite investment picks of investors.
In early morning trade on Monday, the stock price of Anavex opened in green and was trading close to $1.35.