Why Anavex Life Sciences Shares Are Up 17% Today
Shares of biopharma outfit Anavex Life Sciences (NASDAQ: AVXL) are up 17.2% as of early afternoon following a trial update for its flagship therapy ANAVEX 2-73. The drug, also called blarcamesine, prompted marked improvements in the cognitive capabilities of Parkinson's disease patients.
ANAVEX 2-73 is Anavex Life Sciences' flagship project, in phase 3 trials as a therapy for Rett syndrome and Alzheimer's disease. Monday's jolt, however, was sparked by encouraging progress in the phase 2 trial of the treatment of Parkinson's disease dementia. In effect, the drug's use correlates with nearly a 19% relative improvement in movement disorder linked to Parkinson's, easily surpassing the "meaningful clinical change" standard.
Notably, dementia patients who were given ANAVEX 2-73 saw measurable increases in the activation of sigma-1 receptors. This is the second such study to demonstrate a correlation between activated sigma-1 receptors and diminished Parkinson's dementia symptoms, suggesting Anavex's developmental efforts are properly targeting the underlying conditions of the disease.
Source Fool.com