NEW
YORK, March 26, 2024 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders of Anavex
Life Sciences Corporation (NASDAQ: AVXL).
Shareholders who purchased shares of AVXL during the class
period listed are encouraged to contact the firm regarding possible
lead plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/anavex-life-sciences-loss-submission-form/?id=72579&from=4
CLASS PERIOD: February 1,
2022 to January 1, 2024
ALLEGATIONS: The complaint alleges that on
December 2, 2022, AVXL announced
positive topline results from its Phase 2b/3 ANAVEX®2-73-AD-004 clinical trial of oral
ANAVEX®2-73 (blarcamesine) for the treatment of mild cognitive
impairment (MCI) due to Alzheimer's disease (AD) and mild AD
(collectively known as early AD). ANAVEX®2-73 met the primary
endpoints ADAS-Cog1 and ADCS-ADL2 and key secondary endpoint
CDR-SB3 with statistically significant results. An analyst
questioned the Company's claim noting "there are several key
factors that point us to believe the data is provocative, but not
yet compelling, given the choice of statistical analyses and other
trial design/conduct 'complexifiers'." Additionally, a biotech
journalist commented on AVXL's findings stating "[w]hat sets Anavex
apart from all the other biotechs on my radar screen is its habit
of shifting the goalposts on clinical trials…Anavex announced
"positive" outcomes from studies of its drug called blarcamesine —
except the results were derived from efficacy endpoints that were
not part of the original study designs." Following this news,
AVXL's stock price fell by $2.47 per
share, or approximately 20% to close at $9.58. Further on January 3, 2024, AVXL announced that results from
its Phase 2/3 EXCELLENCE clinical trial for its candidate
ANAVEX®2-73 in pediatric patients with Rett syndrome failed to show
statistical significance towards its primary endpoints. Biotech
analysts commented that "the negative study outcome was never in
doubt…Anavex is a serial dissembler of clinical trial
results." Following this news, AVXL's stock price fell by
$3.26 per share, or approximately
35%.
DEADLINE: May 13, 2024
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/anavex-life-sciences-loss-submission-form/?id=72579&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of AVXL during the timeframe
listed above, you will be enrolled in a portfolio monitoring
software to provide you with status updates throughout the
lifecycle of the case. The deadline to seek to be a lead plaintiff
is May 13, 2024. There is no cost or
obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. The
firm seeks recovery on behalf of investors who incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm