AVXL Stock Jumps On Lower Q4 Loss, Anticipation For EMA Approval Of Alzheimer’s Drug

by

Anavex ended the quarter with cash and cash equivalents of $102.6 million.

  • The company said its net loss for the three months through the end of September was $0.11 per share, down from a loss of $0.14 per share in the corresponding quarter of 2024.
  • The company is now seeking a re-examination of CHMP’s opinion on its Alzheimer’s drug, Blarcamesine. 
  • It expects a cash runway of more than 3 years.

Shares of Anavex Life Sciences Corp. (AVXL) jumped 10% on Monday afternoon after the company reported a lower-than-expected loss for the fourth quarter.

Add Asianet Newsable as a Preferred Source

The company said that net loss in the three months through the end of September was $0.11 per share, down from a loss of $0.14 per share in the corresponding quarter of 2024, and lower than the loss of $0.15 per share expected by analysts, according to data from Fiscal AI.

The company ended the quarter with cash and cash equivalents of $102.6 million. It now expects a cash runway of more than 3 years.

Blarcamesine’s Path Forward

Anavex is focused on developing treatments for neurodegenerative disorders like Alzheimer’s. “There are currently an estimated 7.2 million people living with Alzheimer’s disease in the U.S. and 7 million in Europe, respectively. We continue to be focused on orally, targeted upstream medicines, particularly in the context of early Alzheimer’s disease,” said CEO Christopher U. Missling.

Earlier this month, Anavex said that a European Medicines Agency (EMA) committee did not recommend approval of the company’s application for its Alzheimer’s drug, Blarcamesine. The Committee for Medicinal Products for Human Use provides recommendations to the EMA on human medicines, which the agency uses to approve or reject a drug. The lack of a positive recommendation dampens the chances of EMA approval for the drug.

The committee is expected to adopt a formal opinion on the application at its December meeting, the company said, while adding that it intends to request a re-examination of the committee’s opinion. The firm reiterated the course of action on Tuesday.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around AVXL stock stayed within the ‘bearish’ territory over the past 24 hours, while message volume stayed at ‘low’ levels.

A Stocktwits user opined that they are “cautiously optimistic” about the stock’s future.

AVXL stock is down 68% this year and by 63% over the past 12 months.

For updates and corrections, email newsroom[at]stocktwits[dot]com<

Leave a Comment