Anavex Stock Breakout This Month: What’s The Buzz?
Among the many stocks to have rallied strongly over the course of the past week, the rally in Anavex Life Sciences (NASDAQ:AVXL) has been quite notable. During that period, the stock rallied strongly and gained as much as 20%. The rally came about after the company released the results from the Phase 2 trial of one of its products last week.
On October 15, Anavex released the results from the Phase 2 controlled trial of its product ANAVEX 2-73 (blarcamesine), which is meant for treating patients suffering from Parkinson’s disease dementia (PDD).
The trial in question tested the effectiveness, tolerability, and safety of the product. According to the results released by Anavex, the product was not only found to have been safe but also well tolerated. The patients, who were part of the study, had been administered an oral dose of 50 mg every day.
However, that is not all. The company also performed a Cognitive Drug Research that was performed on a computerized assessment system and the improvements demonstrated by the patients proved to be statistically significant.
It was naturally a major breakthrough for the company and as soon as the announcement was made on the morning of October 15, investors piled on to the stock.
It rallied strongly on significant volumes and it remains to be seen if the Anavex stock can manage to maintain its momentum. The company also revealed that it is going to submit the results for presentation at a medical conference. Additionally, it is also going to be submitted to a medical journal for possible publication.
While the positive results from the Phase 2 controlled trial proved to be a major boost for Anavex, investors are also looking at the immediate plans of the company regarding ANAVEX 2-73.
In its press release, Anavex announced that it was making plans on a vital trial of the product. However, the company added that it was only going to happen after the United States Food and Drug Administration goes through the results and provides regulatory guidance.
The biopharmaceutical company has managed to carve a niche for itself in the development of therapeutics in the neurodegenerative and neurodevelopmental disorders space.
It is also working on products meant for the treatment of Rett Syndrome, Parkinson’s disease, and Alzheimer’s among others. Considering the recent rally in the stock, it could be a wise move from investors if they kept an eye on Anavex.
Neither PSN nor its owners, members, officers, directors, partners, consultants, nor anyone involved in the publication of this website, is a registered investment adviser or broker-dealer or associated person with a registered investment adviser or broker-dealer and none of the foregoing make any recommendation that the purchase or sale of securities of any company profiled in the PSN website is suitable or advisable for any person or that an investment or transaction in such securities will be profitable. The information contained in the PSN website is not intended to be, and shall not constitute, an offer to sell nor the solicitation of any offer to buy any security. The information presented in the PSN website is provided for informational purposes only and is not to be treated as advice or a recommendation to make any specific investment. Please consult with an independent investment adviser and qualified investment professional before making an investment decision.