Anavex had been pursuing a heavy stock-promoting campaign since November 2015, creating a hype around its potential Alzheimer's therapy, but mixed Phase IIa results in a small number of patients caused investors to back off this week, with the New York-based biotech dropping from a steady price of $7.3 at the start of the week to a close of just $3.5 per share on July 28 (NASDAQ).
Anavex Stock Price Crash: A Fault By Trial Design?
Anavex Life Sciences' unabashed self-promotion since late-2015 for its leading pipeline product ANAVEX 2-73, which is being studied as a treatment for Alzheimer's disease, may have been one reason the firm's stock crashed down this week following the presentation of Phase IIa data at the Alzheimer's Association International Conference. But the study with no control arm and only 32 patients for a neurological disorder also has some analysts questioning how robust the data are.
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