2023-03-30 08:10:53 ET
Shares of Anavex Life Sciences ( NASDAQ: AVXL ) inched ~5% higher in the pre-market Thursday after announcing initial data from an open-label extension phase from its mid-stage trial for lead asset ANAVEX 2-73 in Parkinson's disease (PD) dementia.
According to the company, 48-week data suggested ANAVEX 2-73 led to longitudinal beneficial effects on the prespecified primary and secondary objectives, as well as planned primary and key secondary endpoints for a future pivotal trial for the candidate in PD.
Early data indicated that the experimental therapy, also known as blarcamesine, was generally safe and well tolerated, the company said, adding that safety data was consistent with the treatment's known safety profile.
The long-term extension followed the company's Phase 2 study ANAVEX2-73-PDD-001 which indicated statistically significant improvements for ANAVEX 2-73 compared to placebo in terms of MDS-UPDRS, a clinical measure used to assess the severity of Parkinson's disease.
"This data suggests ANAVEX®2-73's potential capability to slow and potentially reverse the life altering symptoms of Parkinson's disease, an urgent unmet global need," Chief Executive Christopher Missling noted.
Read: Seeking Alpha contributor Clinically Sound Investor issued a Buy rating on Anavex ( AVXL ), citing its prospects against Alzheimer's disease.
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Anavex gains on long-term data for Parkinson’s disease therapy