Anavex Life Sciences Reports Fiscal 2024 Fourth Quarter Financial Results and Provides Business Update

Core Viewpoint - Anavex Life Sciences Corp. is focused on developing innovative treatments for various CNS diseases, including Alzheimer's disease, and has reported its financial results for the fourth quarter and fiscal year ended September 30, 2024, highlighting significant advancements in its clinical trials and financial performance [1][14]. Recent Highlights - The European Medicines Agency (EMA) has accepted the Marketing Authorization Application (MAA) for Anavex's investigational drug blarcamesine (ANAVEX®2-73) for Alzheimer's disease treatment [14]. - Anavex will present topline long-term data from the Phase IIb/III ATTENTION-AD Open-Label-Extension trial at the J.P. Morgan 2025 Healthcare Conference [14]. - The company participated in the 7th Annual Evercore ISI HealthCONx Conference and announced the acceptance of a peer-reviewed manuscript on blarcamesine [14]. Financial Highlights - For the fourth quarter of 2024, total operating expenses were $14.3 million, up from $12.7 million in the same quarter of 2023, with research and development expenses increasing to $11.6 million from $10.1 million [5][15]. - The net loss for the fourth quarter was $11.6 million, or $0.14 per share, compared to a net loss of $10.1 million, or $0.12 per share, in the fourth quarter of 2023 [15]. - Cash and cash equivalents at the end of the fiscal year were $132.2 million, down from $151.0 million a year earlier, providing an estimated runway of approximately four years at the current cash utilization rate [15]. Company Overview - Anavex Life Sciences Corp. is dedicated to developing novel therapeutics for neurodegenerative, neurodevelopmental, and neuropsychiatric disorders, with a focus on Alzheimer's disease, Parkinson's disease, and Rett syndrome [7]. - The lead drug candidate, ANAVEX®2-73, has completed multiple clinical trials demonstrating its potential to halt or reverse Alzheimer's disease progression [7]. - ANAVEX®3-71 is another promising candidate targeting SIGMAR1 and M1 muscarinic receptors, showing beneficial effects in preclinical trials [7].