{"id":439936,"date":"2024-01-02T11:35:18","date_gmt":"2024-01-02T16:35:18","guid":{"rendered":"https:\/\/platohealth.ai\/a-single-drug-and-multiple-study-failures-leave-anavex-with-nothing-but-cash\/"},"modified":"2024-01-02T18:06:56","modified_gmt":"2024-01-02T23:06:56","slug":"a-single-drug-and-multiple-study-failures-leave-anavex-with-nothing-but-cash","status":"publish","type":"post","link":"https:\/\/platohealth.ai\/a-single-drug-and-multiple-study-failures-leave-anavex-with-nothing-but-cash\/","title":{"rendered":"A single drug and multiple study failures leave Anavex with nothing but cash","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
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I<\/span><\/span>t took Anavex Life Sciences seven months to finally acknowledge the failure of a late-stage clinical trial in Rett syndrome.<\/p>\n

The negative study outcome was never in doubt<\/a>, so the only surprise from Tuesday\u2019s announcement was the company\u2019s lame attempt at damage control. Anavex is a serial dissembler of clinical trial results, so I was expecting better spin. Instead, management barely tried, which tells you the real results from the Rett study must be truly awful.<\/p>\n

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Anavex shares fell 31% to $6 in early trading. The company\u2019s only drug in clinical development, called blarcamesine, is a zero. Rett is the latest failure, following earlier study failures in Alzheimer\u2019s disease<\/a> and Parkinson\u2019s disease. Yet even with Tuesday\u2019s drop in share price, Anavex still carries a fully diluted market value of nearly $650 million.<\/p>\n

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