Anavex Life Sciences (AVXL) - 2025 Q3 - Quarterly Report

PART I – FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS This section presents Anavex Life Sciences Corp.'s unaudited condensed consolidated interim financial statements for the period ended June 30, 2025, including balance sheets, statements of operations and comprehensive loss, cash flows, and changes in stockholders' equity, along with detailed notes explaining business operations, accounting policies, accrued liabilities, other income, equity offerings, commitments, contingencies, and subsequent events Condensed Consolidated Interim Balance Sheets Condensed Consolidated Interim Balance Sheet Highlights (in thousands): | Metric | June 30, 2025 | September 30, 2024 | | :-------------------------------- | :------------ | :----------------- | | Cash and cash equivalents | $101,164 | $132,187 | | Total Assets | $102,432 | $135,567 | | Total Liabilities | $11,474 | $15,304 | | Total Stockholders' Equity | $90,958 | $120,263 | Condensed Consolidated Interim Statements of Operations and Comprehensive Loss Condensed Consolidated Interim Statements of Operations and Comprehensive Loss (in thousands, except per share amounts): | Metric | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Nine months ended June 30, 2025 | Nine months ended June 30, 2024 | | :---------------------------------- | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Total operating expenses | $14,459 | $14,603 | $40,564 | $38,606 | | Operating loss | $(14,459) | $(14,603) | $(40,564) | $(38,606) | | Total other income, net | $1,216 | $2,389 | $4,014 | $7,224 | | Net loss and comprehensive loss | $(13,243) | $(12,214) | $(36,550) | $(31,382) | | Net Loss per share (Basic and diluted) | $(0.16) | $(0.14) | $(0.43) | $(0.38) | | Weighted average shares outstanding | 85,380,587 | 84,535,328 | 85,085,795 | 83,022,330 | Condensed Consolidated Interim Statements of Cash Flows Condensed Consolidated Interim Statements of Cash Flows (in thousands): | Metric | Nine months ended June 30, 2025 | Nine months ended June 30, 2024 | | :-------------------------------------- | :------------------------------ | :------------------------------ | | Net cash used in operating activities | $(30,440) | $(24,154) | | Net cash (used in) provided by financing activities | $(583) | $11,886 | | Decrease in cash and cash equivalents | $(31,023) | $(12,268) | | Cash and cash equivalents, end of period | $101,164 | $138,756 | Condensed Consolidated Interim Statements of Changes in Stockholders' Equity Changes in Stockholders' Equity (in thousands, except share amounts): | Metric | June 30, 2025 | October 1, 2024 | | :------------------------------------ | :------------ | :-------------- | | Common Stock Shares | 85,411,692 | 84,795,517 | | Additional Paid-in Capital | $463,494 | $456,249 | | Accumulated Deficit | $(372,621) | $(336,071) | | Total Stockholders' Equity | $90,958 | $120,263 | - During the nine months ended June 30, 2025, the company issued 360,021 shares from stock option exercises and 550,000 shares from cashless exercises, while withholding 293,846 shares for taxes and cashless exercises. Share-based compensation recognized was $7,828 thousand[20] Notes to the Condensed Consolidated Interim Financial Statements Note 1 Business Description - Anavex Life Sciences Corp. is a clinical-stage biopharmaceutical company focused on developing precision medicine therapeutics for central nervous system (CNS) diseases with high unmet needs, including Alzheimer's, Parkinson's, schizophrenia, neurodevelopmental, neurodegenerative, and rare diseases like Rett syndrome[21][22] Note 2 Basis of Presentation - The unaudited condensed consolidated interim financial statements are prepared in accordance with SEC rules and U.S. GAAP for interim reporting, with certain disclosures condensed or omitted. Management believes current working capital is sufficient for over 12 months, but future financing may be needed for costly drug development[23][28][29] - The Company has not generated any revenue from operations to date and expects negative cash flows for the foreseeable future[27] - As of June 30, 2025, 15,463,566 potentially dilutive common shares related to outstanding options and warrants were excluded from diluted loss per share calculation due to their anti-dilutive effect[35] Note 3 Accrued Liabilities Principal Components of Accrued Liabilities (in thousands): | Component | June 30, 2025 | September 30, 2024 | | :----------------------------- | :------------ | :----------------- | | Accrued investigator payments | $149 | $860 | | Accrued compensation and benefits | $1,188 | $1,527 | | Milestone-based contract accruals | $547 | $557 | | All other accrued liabilities | $2,045 | $1,891 | | Total accrued liabilities | $3,929 | $4,835 | Note 4 Other Income - The Company recognized $25 thousand and $37 thousand in grant income for the three and nine months ended June 30, 2025, respectively, from a $1.0 million Michael J. Fox Foundation research grant for ANAVEX2-73 in Parkinson's disease. $0.8 million remains as deferred grant income[39][40] Research and Development Incentive Income (in millions): | Period | 2025 (USD) | 2025 (AUD) | 2024 (USD) | 2024 (AUD) | | :----------------------------- | :--------- | :--------- | :--------- | :--------- | | Three months ended June 30, | $0.1 | $0.2 | $0.5 | $0.8 | | Nine months ended June 30, | $0.6 | $1.0 | $1.6 | $2.4 | - Research and development incentive income, primarily from the Australia R&D credit, decreased for both the three and nine months ended June 30, 2025, compared to 2024. The Company's tax incentive claims from 2020 to 2024 are open to potential review by the ATO[42][46] Note 5 Equity Offerings - The Company has a $150.0 million purchase agreement with Lincoln Park Capital Fund, LLC (2023 Purchase Agreement) valid until February 3, 2026. As of June 30, 2025, $110.8 million remains unused, and a prospectus supplement is required to access these funds[49][51] - No shares were issued under the 2023 Purchase Agreement during the nine months ended June 30, 2025, compared to 2,455,646 shares for $11.3 million in the comparable 2024 period[51] - The 2020 Sales Agreement with Cantor Fitzgerald & Co. and SVB Leerink LLC was terminated on July 24, 2024, with no shares sold during the nine months ended June 30, 2024[52][53][54] - During the nine months ended June 30, 2025, the Company issued 217,503 common shares to its CEO and 38,651 shares to a director upon net exercise of stock options, involving withholding shares for exercise price and tax obligations[55][56] Note 6 Commitments and Contingencies Operating Lease Costs (in thousands): | Period | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Nine months ended June 30, 2025 | Nine months ended June 30, 2024 | | :-------------------- | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Operating lease costs | $33 | $31 | $99 | $92 | 401(k) Plan Contributions (in thousands): | Period | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Nine months ended June 30, 2025 | Nine months ended June 30, 2024 | | :-------------------------- | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Contributions to 401(k) plan | $56 | $98 | $213 | $223 | - A shareholder class action lawsuit filed on March 13, 2024, alleging violations related to ANAVEX2-73 Rett syndrome clinical trials, was dismissed on June 18, 2025, but the plaintiff filed an appeal. Two similar derivative lawsuits have been stayed pending the outcome of the class action[61][63][64] Stock Option Activity (Nine months ended June 30, 2025): | Metric | Number of Options | Weighted Average Exercise Price ($) | Weighted Average Grant Date Fair Value ($) | | :-------------------------- | :---------------- | :-------------------------------- | :--------------------------------------- | | Outstanding, Sept 30, 2024 | 15,037,754 | 6.80 | 5.12 | | Granted | 1,488,500 | 8.58 | 6.22 | | Expired | (100,000) | 16.24 | — | | Exercised | (910,021) | 2.45 | 1.40 | | Forfeited | (62,667) | 4.79 | 3.59 | | Outstanding, June 30, 2025 | 15,453,566 | 7.17 | 5.41 | | Exercisable, June 30, 2025 | 10,541,530 | 6.07 | 4.73 | Share-based Compensation Expense (in thousands): | Expense Category | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Nine months ended June 30, 2025 | Nine months ended June 30, 2024 | | :-------------------------- | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | General and administrative | $1,717 | $997 | $3,124 | $2,901 | | Research and development | $2,607 | $1,491 | $4,704 | $4,524 | | Total share-based compensation | $4,324 | $2,488 | $7,828 | $7,425 | Note 7 Subsequent Events - On July 25, 2025, the Company entered into a Sales Agreement with TD Securities (USA) LLC to offer and sell up to $150 million in common stock through an 'at the market offering' or negotiated transactions, with commissions up to 3.0% of gross proceeds[80][81][82] - On July 4, 2025, the 'One Big Beautiful Bill Act' was signed into law, which is expected to allow for more taxpayer-favorable treatment of R&D expenditures for US income tax purposes, and the Company is evaluating its financial impact[83] ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. This section provides management's perspective on the Company's financial condition and operational results, highlighting its clinical-stage biopharmaceutical focus, pipeline development, and financial performance. It details R&D efforts, clinical trial progress for key drug candidates (ANAVEX2-73, ANAVEX3-71), intellectual property, and financial results including operating expenses, net loss, and liquidity, along with forward-looking statements and risk factors Forward-Looking Statements - The report contains forward-looking statements regarding future clinical and regulatory milestones, financial position, business strategy, and operations, identified by words like 'believe,' 'may,' 'expect,' and 'will.'[84] - These statements are based on current expectations and projections but are subject to risks and uncertainties, including stock price volatility, ability to conduct trials, raise capital, generate revenue, and obtain regulatory approvals[85][86] Overview and Strategy - Anavex Life Sciences Corp. is a clinical-stage biopharmaceutical company developing differentiated therapeutics for CNS diseases using precision medicine and genomic data to identify biomarkers[89] - The Company focuses on innovative treatments for Alzheimer's, Parkinson's, schizophrenia, neurodevelopmental, neurodegenerative, and rare diseases like Rett syndrome, with a pipeline including ANAVEX2-73 and ANAVEX3-71[90] - Anavex's compounds target sigma-1 receptor (SIGMAR1), an intracellular chaperone protein crucial for cellular communication and restoring homeostasis, which is believed to be involved in the pathogenesis of many neurodegenerative and neurodevelopmental diseases[91][93][94] Clinical Program Overview - ANAVEX2-73 (blarcamesine) is being developed as a disease-modifying approach for neurodegenerative and neurodevelopmental diseases through SIGMAR1 activation, available in oral capsule and liquid formulations[96] ANAVEX®2-73 (blarcamesine) Alzheimer's Disease - ANAVEX2-73's Phase 2b/3 trial in early Alzheimer's disease met co-primary endpoints, showing significant improvements in ADAS-Cog13 (P < 0.025) and CDR-SB (P < 0.025) at 48 weeks, slowing clinical progression by 36.3% overall[101][102] - The drug also significantly slowed brain atrophy in key regions (whole brain by 37.6%, total grey matter by 63.5%, lateral ventricles by 25.1%) and showed a good safety profile, with dizziness as a common, transient adverse event[102][103] - A Marketing Authorisation Application (MAA) for ANAVEX2-73 for Alzheimer's disease was submitted to and accepted by the European Medicines Agency (EMA) in November/December 2024 for scientific review[104] Parkinson's Disease - ANAVEX2-73 demonstrated clinically meaningful, dose-dependent, and statistically significant improvements in cognitive (CDR computerized assessment) and motor impairment (MDS-UPDRS total score) in a Phase 2 trial for Parkinson's disease dementia[108] - Preliminary data from the 48-week Open Label Extension (OLE) trial showed longitudinal beneficial effects on primary and secondary objectives, with consistent improvement in MDS-UPDRS Part II + III and CGI-I after resuming treatment[110] - The Company plans further clinical trials for ANAVEX2-73 in Parkinson's disease dementia and received a $1.0 million research grant from The Michael J. Fox Foundation to explore PET imaging biomarkers[111][112] Rett Syndrome - ANAVEX2-73 has received Orphan Drug, Rare Pediatric Disease, and Fast Track designations from the FDA for Rett syndrome treatment[114] - The AVATAR Phase 3 trial met all primary and secondary efficacy and safety endpoints, showing statistically significant improvements in RSBQ (p = 0.037), ADAMS (p = 0.010), and CGI-I (p = 0.037) responses[117] - The EXCELLENCE Phase 2/3 trial in pediatric patients showed improvement on the RSBQ co-primary endpoint, with a statistically significant rapid onset of action at 4 weeks (p=0.041), and no new safety signals[120][121][123] Other indications - Preclinical data supports ANAVEX2-73's potential as a platform drug for other neurodegenerative diseases, including epilepsy, infantile spasms, Fragile X syndrome, Angelman syndrome, multiple sclerosis, and tuberous sclerosis complex (TSC)[125] - ANAVEX2-73 significantly reduced audiogenic-induced seizures in Angelman syndrome mouse models and restored hippocampal brain-derived neurotrophic factor (BDNF) expression in Fragile X syndrome models[126] - Preclinical data also suggests ANAVEX2-73 may promote remyelination in multiple sclerosis and provide protection for oligodendrocytes, OPCs, and CNS neurons[128] ANAVEX2-73 (blarcamesine)-specific Biomarkers - Genomic analysis of Alzheimer's patients treated with ANAVEX2-73 identified actionable genetic variants, including SIGMAR1 and COMT, which significantly impact drug response[130] - Excluding patients with the identified SIGMAR1 biomarker variant (10%-20% of the population) in prospective studies could lead to 80%-90% of patients showing clinically significant improved functional and cognitive scores[130] ANAVEX3-71 - ANAVEX3-71 is an orally available clinical drug candidate with a novel mechanism of action via SIGMAR1 activation and M1 muscarinic allosteric modulation, showing neuroprotection and cognition enhancement in Alzheimer's models[131] - The Phase 1 clinical trial met primary and secondary endpoints for safety, tolerability, and PK, with no serious adverse events or dose-limiting toxicities, and demonstrated linear, dose-proportional, and time-invariant pharmacokinetics[135][137] - Based on preclinical and Phase 1 results, the Company plans to advance ANAVEX3-71 into a biomarker-driven clinical development program for schizophrenia, Frontotemporal Dementia (FTD), and Alzheimer's disease[138] Schizophrenia - The U.S. FDA-cleared ANAVEX3-71-SZ-001 Phase 2 trial in schizophrenia commenced in March 2024, exploring multiple ascending doses and a 28-day treatment period, utilizing standard clinical outcome measures and novel fluid/electrophysiological biomarkers[139] - Preliminary results from Part A showed a dose-dependent effect of ANAVEX3-71 on two key EEG biomarkers, reversing known abnormalities associated with schizophrenia and correlating with positive, negative, and cognitive symptoms[140] - Enrollment for Part B of the Phase 2 study was completed in May 2025, with top-line data expected in the second half of 2025[141] ANAVEX1-41 - ANAVEX1-41 is a sigma-1 agonist that demonstrated significant neuroprotective benefits in preclinical tests by modulating endoplasmic reticulum, mitochondrial, and oxidative stress, and preventing caspase-3 expression[142][143] ANAVEX1066 - ANAVEX1066, a mixed sigma-1/sigma-2 ligand, is designed for neuropathic and visceral pain treatment, showing rapid, dose-dependent efficacy in preclinical models without affecting normal gastrointestinal transit[144] ANAVEX1037 - ANAVEX1037 is a synthetic compound with high affinity for sigma-1 receptors, designed for prostate and pancreatic cancer treatment, demonstrating antitumor potential by selectively killing cancer cells and suppressing tumor growth in preclinical studies[145][146] Our Target Indications - The Company is developing compounds for Central Nervous System Diseases, including Alzheimer's disease (7.2 million Americans aged 65+ in 2025), Parkinson's disease (10+ million worldwide), Rett syndrome (1 in 10,000-15,000 females), Schizophrenia (24 million worldwide), Fragile X (1.4 million worldwide), and Depression[148][149] - Target indications also include Epilepsy (3.4 million Americans in 2015), Neuropathic Pain, and Cancer, specifically Malignant Melanoma (market expected to reach $7.5 billion by 2029), Prostate Cancer (market expected to reach $10.1 billion by 2030), and Pancreatic Cancer (market expected to reach $3.7 billion by 2027)[150][155] Patents, Trademarks and Intellectual Property - Anavex holds ownership or exclusive rights to 30 issued U.S. patents and 20 pending U.S. patent applications, along with numerous PCT and ex-U.S. applications, related to its drug candidates and research programs[151] - Key patents include those for ANAVEX2-73 (composition of matter, crystalline polymorphs, seizure treatment, neurodevelopmental disorders, cardiac dysfunction, insomnia/anxiety/agitation, systolic hypertension), ANAVEX19-144, ANAVEX1-41, ANAVEX1066, and ANAVEX3-71[152][153][154][156][157][158][159][160][161][162][163][165] - Most of these patents are expected to expire between 2030 and 2039, absent any patent term extensions for regulatory delays[152][153][154][156][157][158][159][160][161][162][163][164][165] Financial Overview - The Company is in the development stage and has not earned any revenue since its inception in 2004, anticipating revenue only upon establishing alliances for product development, licensing, or marketing[170] Operating Expenses Operating Expenses (in thousands): | Expense Category | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Nine months ended June 30, 2025 | Nine months ended June 30, 2024 | | :-------------------------- | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Total operating expenses | $14,459 | $14,603 | $40,564 | $38,606 | | Research and development | $9,959 | $11,811 | $30,298 | $30,224 | | General and administrative | $4,500 | $2,792 | $10,266 | $8,382 | - The decrease in R&D expenses for the three-month period was primarily due to a $1.9 million decrease in manufacturing for ANAVEX2-73 and a $1.0 million decrease in the Alzheimer's program, partially offset by a $1.1 million increase in stock-based compensation[175][178] - G&A expenses increased for both periods, mainly due to higher corporate and intellectual property legal fees, and an increase in non-cash stock-based compensation from new milestone-based options[177] Other income (net) Net Other Income (in thousands): | Period | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Nine months ended June 30, 2025 | Nine months ended June 30, 2024 | | :-------------------- | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Net other income | $1,216 | $2,389 | $4,014 | $7,224 | - The decrease in net other income for both periods was primarily due to a reduction in research and development incentive income (following the completion of Australian clinical trials) and lower interest income (due to reduced cash balances and market interest rates)[179] Net loss Net Loss and EPS: | Period | Net Loss (in millions) | EPS | | :------------------------------- | :--------------------- | :---- | | Three months ended June 30, 2025 | $(13.2) | $(0.16) | | Three months ended June 30, 2024 | $(12.2) | $(0.14) | | Nine months ended June 30, 2025 | $(36.6) | $(0.43) | | Nine months ended June 30, 2024 | $(31.4) | $(0.38) | - The increase in net loss for both periods is primarily attributed to the net increases in operating expenses and net decreases in other income[181] Liquidity and Capital Resources Working Capital Working Capital (in thousands): | Metric | June 30, 2025 | September 30, 2024 | | :---------------- | :------------ | :----------------- | | Current Assets | $102,432 | $135,567 | | Current Liabilities | $11,474 | $15,304 | | Working Capital | $90,958 | $120,263 | - Net current assets decreased by approximately $29.3 million from September 30, 2024, to June 30, 2025, primarily due to cash utilized in operations[182] Cash Flows Summary of Cash Flows (in thousands): | Activity | Nine months ended June 30, 2025 | Nine months ended June 30, 2024 | | :-------------------------------------- | :------------------------------ | :------------------------------ | | Net cash used in operating activities | $(30,440) | $(24,154) | | Net cash (used in) provided by financing activities | $(583) | $11,886 | | Decrease in cash and cash equivalents | $(31,023) | $(12,268) | - Net cash used in operating activities increased by $6.3 million, from $24.2 million in 2024 to $30.4 million in 2025, primarily due to an increased net loss and decreased working capital balances[185] - Cash flows from financing activities shifted from a $11.9 million inflow in 2024 (primarily from common share issuance under the 2023 Purchase Agreement) to a $0.6 million outflow in 2025 (due to tax withholding for stock option exercises)[186][187][188] Other Financings - On July 25, 2025, the Company entered into a Sales Agreement with TD Securities (USA) LLC to sell up to $150 million in common stock through an 'at the market offering' or negotiated transactions, with commissions up to 3.0%[189][190][191] - The 2023 Purchase Agreement with Lincoln Park Capital Fund, LLC allows the Company to sell up to $150.0 million in common stock until February 3, 2026. As of June 30, 2025, $110.8 million remains unused, and no shares were issued under this agreement during the nine months ended June 30, 2025[192][197][198] Off-Balance Sheet Arrangements - The Company has no off-balance sheet arrangements that have or are reasonably likely to have a material current or future effect on its financial condition, revenues, expenses, results of operations, liquidity, or capital resources[199] CRITICAL ACCOUNTING POLICIES - There have been no significant changes to the Company's critical accounting policies and estimates since its Annual Report on Form 10-K for the year ended September 30, 2024[201] RECENT ACCOUNTING PRONOUNCEMENTS - The Company refers to Note 2, 'Recent Accounting Pronouncements,' in its Condensed Consolidated Interim Financial Statements for details on new FASB ASUs, including ASU No. 2023-07 (Segment Reporting) and ASU No. 2023-09 (Income Taxes), and is currently assessing their impact[36][37][202] ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS. As a smaller reporting company, Anavex Life Sciences Corp. is not required to provide quantitative and qualitative disclosures about market risks in this quarterly report - The Company is a smaller reporting company and is not required to provide quantitative and qualitative disclosures about market risks[203] ITEM 4. CONTROLS AND PROCEDURES This section confirms the effectiveness of Anavex Life Sciences Corp.'s disclosure controls and procedures as of June 30, 2025, based on management's evaluation, and states that no material changes to internal control over financial reporting occurred during the quarter Disclosure Controls and Procedures - As of June 30, 2025, the Company's disclosure controls and procedures were evaluated by management, including the principal executive and financial officers, and concluded to be effective[204][205] Changes in Internal Control over Financial Reporting - No changes to the Company's internal control over financial reporting were identified during the quarter ended June 30, 2025, that materially affected, or are reasonably likely to materially affect, internal controls[206] PART II – OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS Anavex Life Sciences Corp. is involved in several legal proceedings, including a shareholder class action lawsuit related to ANAVEX2-73 Rett syndrome clinical trials, which was dismissed but is under appeal. Two similar derivative lawsuits have been stayed pending the outcome of the class action. The Company believes no loss is probable and has not recorded any contingencies - A shareholder class action complaint filed on March 13, 2024, alleging violations related to ANAVEX2-73 Rett syndrome clinical trials, was dismissed on June 18, 2025, but the plaintiff filed a notice of appeal on July 17, 2025[208] - Two derivative lawsuits with similar allegations have been filed against the Company and its officers/directors, both of which have been stayed pending the resolution of the initial class action lawsuit[210][211] - The Company believes it is not probable that any loss will occur from these lawsuits and has not recorded any loss contingencies in the financial statements[208][210][211] ITEM 1A. RISK FACTORS This section updates the risk factors, emphasizing the lengthy, complex, and unpredictable nature of pharmaceutical marketing approval processes, particularly with the EMA and FDA. It highlights that approval in one jurisdiction does not guarantee approval in others and that the Company's business could be adversely affected by litigation, government investigations, and changes in U.S. and international trade policies - There have been no material changes to the risk factors discussed in the Annual Report on Form 10-K, except for specific risks related to the marketing approval process and business operations[213] - The marketing approval process for pharmaceutical products by the EMA, FDA, and other authorities is lengthy, complex, and unpredictable, with no guarantee of approval, and a failure or delay in one jurisdiction can negatively impact others[213][215][216] - The Company's business is subject to risks from litigation, government investigations, and enforcement actions, which can be expensive and time-consuming, potentially resulting in fines, penalties, and reputational damage[217][218] - Changes in U.S. and international trade policies, such as tariffs, could adversely impact the Company's business, affecting import/export costs, product demand, and commercial activities[219] ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS Anavex Life Sciences Corp. did not report any unregistered sales of equity securities during the period covered by this Quarterly Report on Form 10-Q that were not previously disclosed - The Company has not sold any equity securities that were not registered under the Securities Act of 1933 and not previously reported in a Current Report on Form 8-K during the period[220] ITEM 3. DEFAULTS UPON SENIOR SECURITIES Anavex Life Sciences Corp. reported no defaults upon senior securities during the period - There were no defaults upon senior securities during the reporting period[221] ITEM 4. MINE SAFETY DISCLOSURES This item is not applicable to Anavex Life Sciences Corp - This item is not applicable to the Company[222] ITEM 5. OTHER INFORMATION Anavex Life Sciences Corp. reported no adoption, modification, or termination of Rule 10b5-1 or non-Rule 10b5-1 trading arrangements by its directors or Section 16 officers during the three-month period ended June 30, 2025 - None of the Company's directors or Section 16 officers adopted, modified, or terminated a 'Rule 10b5-1 trading arrangement' or 'non-Rule 10b5-1 trading arrangement' during the three-month period ended June 30, 2025[223] ITEM 6. EXHIBITS This section lists the exhibits filed with the Quarterly Report on Form 10-Q, including articles of incorporation, bylaws, an amendment to the 2022 Omnibus Incentive Plan, Rule 13a-14(a)/15(d)-14(a) certifications, Section 1350 certifications, and XBRL instance documents - The exhibits include Articles of Incorporation, Amended and Restated Bylaws, Amendment No. 1 to the 2022 Omnibus Incentive Plan, Rule 13a-14(a)/15(d)-14(a) Certifications, Section 1350 Certifications, and XBRL documents[224] SIGNATURES - The report was duly signed on August 12, 2025, by Christopher Missling, PhD, Chief Executive Officer (Principal Executive Officer), and Sandra Boenisch, CPA, CGA, Principal Financial Officer (Principal Financial and Accounting Officer)[227][228]