Anavex Life Sciences (US:AVXL) Globenewswire·2024-12-23 12:30Core Insights - Anavex Life Sciences Corp. announced the acceptance of its Marketing Authorization Application (MAA) for blarcamesine (ANAVEX®2-73) by the European Medicines Agency (EMA) for the treatment of Alzheimer's disease [2] - The company will present topline long-term data from the Phase IIb/III ATTENTION-AD trial at the J.P. Morgan 2025 Healthcare Conference in January 2025 [2] - Anavex reported a net loss of $11.6 million for the fourth quarter of fiscal year 2024, compared to a net loss of $10.1 million in the same quarter of the previous year [5][14] Company Developments - Anavex's lead drug candidate, ANAVEX®2-73, has completed multiple clinical trials for Alzheimer's disease and is designed to restore cellular homeostasis by targeting SIGMAR1 and muscarinic receptors [8] - The company has also reported encouraging preliminary results from a Phase 2 clinical study of ANAVEX®3-71 for schizophrenia, demonstrating a dose-dependent effect on EEG biomarkers [2][8] - Anavex's cash and cash equivalents stood at $132.2 million as of September 30, 2024, down from $151.0 million a year earlier, indicating a runway of approximately four years at the current cash utilization rate [5][11] Financial Performance - General and administrative expenses for the fourth quarter were $2.8 million, compared to $2.6 million for the same quarter in fiscal 2023 [5] - Research and development expenses increased to $11.6 million in the fourth quarter from $10.1 million in the prior year [5] - The net loss per share for the fourth quarter was $0.14, compared to $0.12 in the same quarter of the previous year [14]