Bad Week for Anavex Life Sciences Corp (OTCMKTS:AVXL)

Anavex Life Sciences Corp (OTCMKTS:AVXL)

Shares of Anavex Life Sciences Corp (OTCMKTS:AVXL) dropped over 26% for the week. The weekly performance would have been worse, however a heavy buying spree at the end of Friday’s session pushed the shares up from their $3.64 daily low to close out the week at $4.21. YTD AVXL shares are up over 6% but are down over 40% for the year.

Anavex Life Sciences Corp (OTCMKTS:AVXL), headquartered in New York City, NY, is a clinical stage biopharmaceutical company that develops therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases including Alzheimer’s disease, other central nervous system diseases, pain, and various types of cancer. Anavex’s lead compound ANAVEX™ 2-73 is being developed to treat Alzheimer’s disease, Parkinson’s disease, and other central nervous system diseases such as Rett syndrome. ANAVEX™ 2-73, recently completed successfully a Phase 2a clinical trial for Alzheimer’s disease.  Results from preclinical studies showed promise to halt and/or reverse the course of Alzheimer’s disease. The Michael J. Fox Foundation for Parkinson’s Research has awarded Anavex a research grant to develop ANAVEX™ 2-73 for the treatment of Parkinson’s disease to fully fund a preclinical study, which could justify moving ANAVEX™ 2-73 into a Parkinson’s disease clinical trial.

On July 20, 2017, Anavex Life Sciences Corp (OTCMKTS:AVXL) announced the appointment of Andrew J. Cole, M.D., F.R.C.P.(C.) to its Scientific Advisory Board. Dr. Cole is Director of the MGH Epilepsy Service, Chief of the Division of Clinical Neurophysiology and Epilepsy and Professor of Neurology at Harvard Medical School. He trained in Neurology and Clinical Neurophysiology at the Montreal Neurological Institute, and then moved to Johns Hopkins University School of Medicine where he was Assistant Professor of Neurology. Dr. Cole then came to Massachusetts General Hospital in 1992 where he started and developed the MGH Epilepsy Service and founded the MGH Pediatric Epilepsy Service. In addition to research and clinical work, Dr. Cole lectures frequently throughout the United States and internationally, and has been a visiting professor at numerous institutions in the U.S.A. and abroad.

AVXL shareholders would welcome positive news. Each year they have experienced per share losses. In 2012 the per share loss was (-$1.18) but the loss did shrink to (-$0.42) by 2016. Still, for a biotech with no revenues, AVXL shareholder’s patience may be wearing thin.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $AVXL and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Anavex Life Sciences Corp (OTCMKTS:AVXL) Down Again

Anavex Life Sciences Corp (OTCMKTS:AVXL)

Anavex Life Sciences Corp (OTCMKTS:AVXL) is a clinical stage biotechnology firm headquartered in New York City. Anavex develops therapies for the treatment of neurodegenerative and neurodevelopmental diseases such as Alzheimers, Parkinson’s, and Rett Syndrome. On Kune 9th, Anavex’s CEO, Dr. Chris Missling, presented at the renowned Jeffries 2017 Global Healthcare Conference in New York City. Typically such presentations serve as a boost to a biotech’s share price – however AVXL has dropped slightly since that presentation.

The lead product candidate from Anavex Life Sciences Corp (OTCMKTS:AVXL) is Anavex 2-73 for the indications of Alzheimer’s, cognition in neuropsychiatric epilepsy, Parkinson’s, Multiple Sclerosis, and Rett Syndrome. Anavex 2-73 just completed a Phase 2a Clinical trial and while reported results were positive, they were not without critics. Anavex 2-73 reportedly stabilized Alzheimer’s disease for a period of one year, becoming the first drug to accomplish the milestone. However some observers believe the trials were too small and, therefore, the results should not have the same level of confidence attached to them despite the meeting of stated endpoints. Anavex Life Sciences Corp (OTCMKTS:AVXL) also has two drug candidates that have completed their preclinical trials for three indications – Parkinson’s, Depression, and Stroke. Five other durg candidates are in preclinical trials for indications of varying types of cancer.

In late 2015, shares of Anavex Life Sciences Corp (OTCMKTS:AVXL) were briefly trading around $15. Since March AVXL shares have been in a relatively tight trading range between $5.60 and $6.30. However support at the $5.60 level disappeared last week as each day saw successively lower lows which ended with AVXL closing at $5.36 after hitting lows of $5.10. AVXL is slightly down in early morning trading today.

Anavex Life Sciences Corp (OTCMKTS:AVXL) shareholders have historically been diluted at high levels. In 2012, there were 7.04 million shares outstanding and by 2016 there were over 35.15 million shares outstanding. More recently, share performance has been positive. YTD AVXL shares are up over 35% and up almost 25% for the year. While AVXL has a $15 price target, short-sellers still represent over 14% of the stock’s float, which likely indicates a lack of strong positive sentiment for the stock.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $AVXL and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.