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Analyst: Clinical News, Catalysts Portend ‘Rich’ Q2/21 for Biopharma

May 27, 2021 (Investorideas.com Newswire) Second-quarter clinical events related to Anavex Life Sciences’ pipeline are summarized in a Dawson James Securities report.

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In a May 19 research note, Dawson James Securities analyst Jason Kolbert provided an update on Anavex Life Sciences Corp.’s (AVXL:NASDAQ) lead drug candidate, Anavex2-73, with respect to two indications.

The biopharma is currently evaluating Anavex2-73, or blarcamesine, in three Rett syndrome trials. It is assessing the drug in adults in the randomized, double-blind, placebo-controlled AVATAR Anavex2-73-RS-002 trial and in the Anavex2-73-RS-EP-001 open-label extension study in the U.S. It also is evaluating the drug in pediatric patients in the randomized, double-blind, placebo-controlled EXCELLENCE Anavex2-73-RS-003 trial.

The latest positive news, Kolbert relayed, is that the Data and Safety Monitoring Board reviewed the interim safety data from all three studies and recommended that the biopharma proceed with each trial as is, without changes.

As for Anavex2-73 being studied in patients with Alzheimer’s disease, indicated Kolbert, the biopharma has nearly finished enrollment for the planned Phase 2b/3 trial.

In his report, Kolbert included a recent quote from Anavex CEO Chris Missling and wrote that he concurs with the statement. Missling had said, “Positive momentum continues to build this quarter [Q2/21] and affirms the strength of our pipeline and execution capabilities.”

Kolbert also highlighted that Anavex currently has $76 million in cash on its balance sheet. Also, he noted the imminent catalysts, expected during this second quarter, for the biopharma. They are topline data from AVATAR and from the Phase 1 ANAVEX3-71 clinical trial in frontotemporal dementia.

With the clinical progress the company has already made in Q2/21 and the positive stock-moving events slated for Q2/21, the second quarter should be a “rich” one for Anavex, according to Kolbert.

Dawson James has a Buy rating and a $17 per share price target on Anavex; the stock is now trading at about $11.47 per share.

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Disclosures for Dawson James Securities, Anavex Life Sciences Corp., May 19, 2021

The Firm does not make a market in the securities of the subject company(s). The Firm has NOT engaged in investment banking relationships with AVXL in the prior twelve months, as a manager or co-manager of a public offering and has NOT received compensation resulting from those relationships. The Firm may seek compensation for investment banking services in the future from the subject company(s). The Firm has NOT received any other compensation from the subject company(s) in the last 12 months for services unrelated to managing or co-managing of a public offering.

Neither the research analyst(s) whose name appears on this report nor any member of his (their) household is an officer, director or advisory board member of these companies. The Firm and/or its directors and employees may own securities of the company(s) in this report and may increase or decrease holdings in the future. As of April 30 2021, the Firm as a whole did not beneficially own 1% or more of any class of common equity securities of the subject company(s) of this report. The Firm, its officers, directors, analysts or employees may affect transactions in and have long or short positions in the securities (or options or warrants related to those securities) of the company(s) subject to this report. The Firm may affect transactions as principal or agent in those securities.

Analysts receive no direct compensation in connection with the Firm’s investment banking business. All Firm employees, including the analyst(s) responsible for preparing this report, may be eligible to receive non-product or service specific monetary bonus compensation that is based upon various factors, including total revenues of the Firm and its affiliates as well as a portion of the proceeds from a broad pool of investment vehicles consisting of components of the compensation generated by investment banking activities, including but not limited to shares of stock and/or warrants, which may or may not include the securities referenced in this report.

Analyst Certification: The analyst(s) whose name appears on this research report certifies that 1) all of the views expressed in this report accurately reflect his (their) personal views about any and all of the subject securities or issuers discussed; and 2) no part of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed by the research analyst in this research report; and 3) all Dawson James employees, including the analyst(s) responsible for preparing this research report, may be eligible to receive non-product or service specific monetary bonus compensation that is based upon various factors, including total revenues of Dawson James and its affiliates as well as a portion of the proceeds from a broad pool of investment vehicles consisting of components of the compensation generated by investment banking activities, including but not limited to shares of stock and/or warrants, which may or may not include the securities referenced in this report.

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