Shareholders who acquired shares of AVXL within the specified class period are urged to reach out to the firm regarding potential lead plaintiff designation. It is not mandatory to be appointed as lead plaintiff to participate in any recovery.
CLASS PERIOD: February 1, 2022, to January 1, 2024 ALLEGATIONS: The assertion contends that on December 2, 2022, AVXL disclosed favorable topline outcomes from its Phase 2b/3 ANAVEX®2-73-AD-004 clinical trial of oral ANAVEX®2-73 (blarcamesine) for addressing mild cognitive impairment (MCI) due to Alzheimer’s disease (AD) and mild AD (early AD). ANAVEX®2-73 achieved the primary endpoints ADAS-Cog1 and ADCS-ADL2 and the key secondary endpoint CDR-SB3 with statistically significant results. An analyst raised doubts about the Company’s assertion, stating “there are several key factors that point us to believe the data is provocative, but not yet compelling, given the choice of statistical analyses and other trial design/conduct ‘complexifiers’.” Furthermore, a biotech journalist remarked on AVXL’s discoveries, saying “[w]hat sets Anavex apart from all the other biotechs on my radar screen is its habit of shifting the goalposts on clinical trials…Anavex announced “positive” outcomes from studies of its drug called blarcamesine — except the results were derived from efficacy endpoints that were not part of the original study designs.” Subsequent to this development, AVXL’s stock price dropped by \(2.47 per share, approximately 20%, to conclude at \)9.58. Moreover, on January 3, 2024, AVXL publicized that outcomes from its Phase 2⁄3 EXCELLENCE clinical trial for its prospective ANAVEX®2-73 in pediatric patients with Rett syndrome failed to demonstrate statistical significance towards its primary endpoints. Biotech analysts remarked that “the negative study outcome was never in doubt…Anavex is a serial dissembler of clinical trial results.” Following this disclosure, AVXL’s stock price plummeted by $3.26 per share, around 35%.
DEADLINE: May 13, 2024 Shareholders are advised not to delay in enrolling for this class action. Register your details here:
NEXT STEPS FOR SHAREHOLDERS: Upon registration as a shareholder who bought shares of AVXL during the aforementioned period, you will be included in a portfolio monitoring software to furnish you with status updates throughout the case’s lifecycle. The deadline to aspire to be a lead plaintiff is May 13, 2024. There is no expense or obligation for you to engage in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a widely recognized class action law firm, dedicated to safeguarding the rights of all investors who have suffered due to deceit, fraud, and illicit business practices. The Gross Law Firm is devoted to ensuring that companies adhere to ethical business practices and uphold good corporate citizenship. The firm pursues recovery on behalf of investors who sustained losses when false and/or misleading statements or the omission of material information by a company resulted in the artificial inflation of the company’s stock. Attorney advertising. Past outcomes do not guarantee similar results.
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