Anavex Life Sciences Corp (OTCMKTS:AVXL) reported that enrollment process for the Phase IIa clinical study of ANAVEX 2-73 has been accomplished ahead of schedule. With the Phase IIa study fully enrolled, the company projects to announce top line results for Part-A before the end of 2015.
Christopher U. Missling, PhD, the CEO said that there has been considerable interest in Anavex’s Phase 2a Alzheimer’s study and full enrollment is a noteworthy step forward. They are excited to be ahead of schedule and appreciate the support of patients and their families. The company looks forward to the complete set of ANAVEX 2-73 Phase 2a trial data. Missling added that the team is thrilled to continue moving this clinical plan forward.
It should be noted that “ANAVEX 2-73” is the investigational medication in the Phase IIa study and is Anavex’s prime investigational oral therapy for AD. It aims sigma-1 and muscarinic receptors, which is assumed through upstream measure to minimize beta amyloid, protein misfolding, tau and inflammation.
Presently, Alzheimer’s disease continues to be the largest unmet need in neurology segment. More than 25 million individuals are diagnosed with Alzheimer’s disease, with the related cost of care projected to exceed $200 billion yearly. By 2050, 100 million individuals are projected to be living with AD.
It is a neurological disorder usually characterized by cognitive decline and memory loss. A neurodegenerative type of dementia, the Alzheimer’s disease starts with mild indications and becomes progressively worse.
The underway Phase IIa adaptive trial of drug ‘ANAVEX 2-73’ in both female and male mild-to-moderate AD patients has total 32 enrolled patients. It commenced in January 2015 and all the enrollments have begun Part-A of the two-part study. PART B of trial is an open-label extension that will be carried out for an additional 52 weeks.
Anavex Life Sciences Corp (OTCMKTS:AVXL) finished the last trading session with a nice gain of 2.32% but the structure of the last few daily candles has not been very encouraging for the bulls. The final closing yesterday came at $1.3250, almost the same with the opening price of $1.31, creating a Doji. Both the patterns Doji and Turning Top have been seen very frequently in the last few weeks, which indicate a lot of indecision and confusion in the mind of the investors. The price formed the pattern of Graveyard Doji on Monday, reflecting the sharp rejection of price at the higher levels.