Anavex Life Sciences Reports Fiscal 2025 First Quarter Financial Results and Provides Business Update

Core Viewpoint - Anavex Life Sciences Corp. reported its financial results for the first quarter of fiscal 2025, highlighting advancements in its Alzheimer's disease treatment and ongoing support from stakeholders for its innovative therapies [2][3]. Recent Highlights - Anavex received a new U.S. Patent for its drug candidate ANAVEX®2-73 (blarcamesine), which is expected to remain in force until at least July 2039 [7]. - The Journal of Prevention of Alzheimer's Disease published positive results from a Phase IIb/III study of oral blarcamesine, showing a 36.3% reduction in clinical progression at 48 weeks [7]. - Long-term data from the Phase IIb/III ATTENTION-AD trial indicated significant clinical benefits for early Alzheimer's disease patients over three years of treatment with blarcamesine [7]. Financial Highlights - Cash and cash equivalents decreased to $120.8 million as of December 31, 2024, from$132.2 million at September 30, 2024, indicating a runway of approximately four years at current cash utilization rates [7]. - General and administrative expenses rose to $3.1 million from$2.7 million year-over-year, while research and development expenses increased to $10.4 million from$8.7 million [7]. - The net loss for the first quarter was $12.1 million, or$0.14 per share, compared to a net loss of $8.6 million, or$0.11 per share, in the same quarter of the previous fiscal year [7][14].