Stock Alert: Anavex Life Sciences Jumps 18% On Positive Data From Anavex 2-73

(RTTNews) - Shares of Anavex Life Sciences Corp. (AVXL) are climbing more than 18% Tuesday morning after the company reported positive top line results from a phase II study study of its drug candidate ANAVEX 2-73 (blarcamesine) in adult female patients with Rett syndrome.

Rett syndrome is a rare genetic neurological disorder that primarily affects girls imparing their ability to speak, walk, eat, and even breathe easily.

Primary endpoint, safety and pharmacokinetics, and secondary endpoint, efficacy were met, with consistent improvements in Rett Syndrome Behaviour Questionnaire (RSBQ) total scores and Clinical Global Impression improvement scale (CGI-I), the company said.

"The outcome of this trial is very promising in terms of both safety and clinical improvement. Despite the challenges of the older age of the cohort (patients were over 18 years of age) and the relatively low dose (5 mg daily), ANAVEX 2-73 demonstrated clinically meaningful improvements in outcome measures evaluating multiple impairments," commented Walter E Kaufmann, MD, Principal Investigator.

Based on the results in this Phase 2 study, Anavex is planning to meet with FDA to discuss the approval pathway.

ANAVEX2-73 is currently being evaluated for Rett syndrome in two other studies including Phase 2 study dubbed Avatar in adult Rett syndrome and Phase 2/3 study dubbed Excellence in pediatric Rett syndrome.

AVXL is currently trading at $6.16. It has traded in the range of $2.20- $7.69 in the past 52 weeks.