Shareholders who acquired shares of AVXL during the specified class period are urged to reach out to the firm for potential lead plaintiff consideration. It is important to note that becoming a lead plaintiff is not mandatory to participate in any potential recovery.
Class Period: February 1, 2022 to January 1, 2024 Allegations: The complaint asserts that on December 2, 2022, AVXL disclosed positive topline outcomes from its Phase 2b/3 ANAVEX®2-73-AD-004 clinical trial of oral ANAVEX®2-73 (blarcamesine) intended for treating 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 as well as the key secondary endpoint CDR-SB3 with statistically significant results. An analyst raised concerns regarding the Company’s assertion, stating “there are several key factors that lead us to believe the data is intriguing, but not yet convincing, given the selection of statistical analyses and other complexities in trial design/conduct.” Furthermore, a biotech journalist remarked on AVXL’s discoveries, noting “what distinguishes Anavex from all other biotechs on my watchlist is its tendency to change the parameters of clinical trials…Anavex reported ‘positive’ results from studies of its drug called blarcamesine — however, the outcomes were based on efficacy endpoints that were not originally part of the study designs.” Subsequently, AVXL’s stock price dropped by \(2.47 per share, or roughly 20%, to conclude at \)9.58. Moreover, on January 3, 2024, AVXL revealed that outcomes from its Phase 2⁄3 EXCELLENCE clinical trial for its ANAVEX®2-73 candidate in pediatric patients with Rett syndrome did not exhibit statistical significance towards its primary endpoints. Biotech analysts remarked that “the unfavorable study outcome was never uncertain…Anavex has a history of misrepresenting clinical trial results.” Consequently, AVXL’s stock price plummeted by $3.26 per share, or about 35%.
Deadline: May 13, 2024 Shareholders are advised not to delay in signing up for this class action. Register your details here:
Next Steps for Shareholders: Upon registering as a shareholder who bought shares of AVXL within the aforementioned timeframe, you will be included in a portfolio monitoring software to keep you informed of updates throughout the case’s progression. The deadline to seek lead plaintiff status is May 13, 2024. There is no fee or obligation for you to participate in this case.
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