Its lead candidate, Anavex 2-73 (A2-73) is currently in a Phase 2a clinical trial. A2-73 is an orally available drug candidate that targets sigma-1 and muscarinic receptors (rather than amyloid plaques).
The drug has a clean safety profile that shows promise to halt and/or possibly even reverse the course of Alzheimer’s. On 11/4, the company made a presentation at the 2017 Clinical Trials on Alzheimer Disease (CTAD) meeting.
This time the company had results for two years. A2-73 continued to show favorable safety and tolerability through 109 weeks.
Best of all the drug continued to work through two years on this cohort. Existing medication only slowed the decline for six months before the disease resumed its usual decline.
A2-73 is also in preclinical testing on Parkinson’s (results should be forthcoming soon) with complete funding from the Michael J. Fox Foundation. And Biogen is doing bench testing on A2-73 for multiple sclerosis.
A2-73 has also shown promising preclinical results for the treatment of epilepsy, Rett Syndrome (a clinical trial may start fairly soon with funding secured recently from the Rett Syndrome Foundation), and infantile spasms (both of which have received orphan drug designation).
All of the above at some point will make Anavex a tasty acquisition treat if things continue to progress well. Nonetheless, the stock seems to be oblivious to all this news and is just marking time around $4 a share, perhaps impacted by year-end tax loss selling. I continue to rate the stock a Buy.
Tom Bishop is founder and editor of BI Research.
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