Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Who cares about the optics? Long-term, this is binary investment depending on how the FDA evaluates Blarcamesine. Retail investors' discretionary dollars are insignificant unless someone wants to average down or cash out.
LPC's money is just as valuable as anyone else's. If the terms are fair, that's all that matters short-term.
Going back to LPC is a bad look. It may not BE bad, but it looks bad to the marginal investor with discretionary dollars. To the investor who is already all in everything looks good.
Missling has $142 million remaining on the current ATM with Cantor and Leerink (if I read the Q correctly) so this move with LPC seems desperate when it seems to me he has better options. I don't mean a secondary either.
Just in case you need a reminder mike_dotcom! hehe
Meanwhile...
https://www.yahoo.com/entertainment/had-bought-anavex-life-sciences-123405650.html
And since that article was written the stock has soared from $3.17 to over $11! What an amazing return for investors.
SAVA UP, ANVS UP, INMB UP - all stocks dealing with CNS diseases.
All stocks are RED, a crying baby!
My mistake to unignore you yesterday. lol
I guess the market does not like this agreement.
FWIW - The Lincoln Park Transaction section of the Prospectus Supplement from Form 424B5 filed by AVXL yesterday:
FWIW - The Lincoln Park Transaction section of the Prospectus Supplement from Form 424B5 filed by AVXL yesterday:
LINCOLN PARK TRANSACTION
On February 3, 2023, we entered into the Purchase Agreement with Lincoln Park. In connection with the Purchase Agreement, on February 3, 2023, we also entered into a registration rights agreement (the “Registration Rights Agreement”) with Lincoln Park, pursuant to which we agreed to take specified actions to maintain the registration of the shares of our common stock subject to the offering described in this prospectus supplement and accompanying prospectus. Pursuant to the terms of the Purchase Agreement, Lincoln Park has agreed to purchase from us up to $150,000,000 of shares of our common stock (subject to certain limitations) from time to time at our discretion during the term of the Purchase Agreement. Pursuant to the terms of the Purchase Agreement and Registration Rights Agreement, we have filed with the SEC this prospectus supplement regarding the sale under the Securities Act of the shares issuable to Lincoln Park under the Purchase Agreement.
We may, from time to time and at our sole discretion, direct Lincoln Park to purchase shares of our common stock upon the satisfaction of certain conditions set forth in the Purchase Agreement at a purchase price per share based on the market price of our common stock at the time of sale as computed under the Purchase Agreement. Lincoln Park may not assign or transfer its rights and obligations under the Purchase Agreement.
Under applicable rules of Nasdaq, in no event may we issue or sell to Lincoln Park under the Purchase Agreement shares of our common stock in excess of 15,606,426 shares (including the Commitment Shares), which represents 19.99% of the shares of our common stock outstanding immediately prior to the execution of the Purchase Agreement (the “Exchange Cap”), unless (i) we obtain stockholder approval to issue shares of our common stock in excess of the Exchange Cap or (ii) the average price of all applicable sales of our common stock to Lincoln Park under the Purchase Agreement equals or exceeds the official closing price of our common stock on the Nasdaq Capital Market immediately preceding the date of the Purchase Agreement, plus an incremental amount to account for the issuance of the Additional Commitment Shares, as calculated in accordance with Nasdaq rules. In any event, the Purchase Agreement specifically provides that we may not issue or sell any shares of our common stock under the Purchase Agreement if such issuance or sale would breach any applicable rules or regulations of Nasdaq.
The Purchase Agreement also prohibits us from directing Lincoln Park to purchase any shares of our common stock if those shares, when aggregated with all other shares of our common stock then beneficially owned by Lincoln Park, would result in Lincoln Park beneficially owning more than 4.99% of our outstanding shares of common stock.
Pursuant to the terms of the RRA, which requires us to register the Purchase Shares and Commitment Shares in order to sell Purchase Shares to Lincoln Park under the Purchase Agreement, we are filing this prospectus supplement to cover (i) the offer and sale of up to $150,000,000 of shares of our common stock, (ii) the issuance of 75,000 Initial Commitment Shares, and (iii) the issuance of up to 75,000 Additional Commitment Shares to be issued pro-rata to Lincoln Park if and when we direct Lincoln Park to purchase available shares of common stock under the Purchase Agreement.
Purchase of Shares Under the Purchase Agreement
Under the Purchase Agreement, we may, from time to time until February 3, 2026, in our sole discretion and subject to certain conditions outside of Lincoln Park’s control, direct Lincoln Park to purchase up to 200,000 shares (the “Regular Purchase Share Limit”) of our common stock on any business day (each such purchase, a “Regular Purchase”); provided that we may mutually agree with Lincoln Park to increase the Regular Purchase Share Limit to up to 2,000,000 shares and to make multiple purchases in a given day. Additionally, all such share and dollar amounts shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction as provided in the Purchase Agreement, and in no event shall Lincoln Park purchase more than $4,000,000 worth of our common stock pursuant to a Regular Purchase on any single business day, provided that the parties may mutually agree to increase such limit to an amount greater than $4,000,000. The purchase price per share for each such Regular Purchase will be equal to the lower of:
? the lowest sale price for our common stock on the purchase date of such shares; or
? the arithmetic average of the three lowest closing sale prices for our common stock during the ten consecutive business days ending on the business day immediately preceding the purchase date of such shares.
S-10
In addition to Regular Purchases as described above, we may also direct Lincoln Park, on any business day on which we have properly submitted a Regular Purchase notice directing Lincoln Park to purchase not less than 50,000 shares of our common stock, to purchase an additional amount of our common stock (each such purchase, an “Accelerated Purchase”) not to exceed the lesser of:
? 30% of the aggregate shares of our common stock traded during normal trading hours on the purchase date; and
? 1000% of the number of Purchase Shares purchased pursuant to the corresponding Regular Purchase.
The purchase price per share for each such Accelerated Purchase will be equal to the lower of 96% of:
? the volume weighted average price during (i) the entire trading day on the purchase date, if the volume of shares of our common stock traded on the purchase date has not exceeded a volume maximum calculated in accordance with the Purchase Agreement, or (ii) the portion of the trading day of the purchase date (calculated starting at the beginning of normal trading hours) until such time at which the volume of shares of our common stock traded has exceeded such volume maximum; or
? the closing sale price of our common stock on the purchase date.
In the event we have properly submitted an Accelerated Purchase Notice to Lincoln Park to purchase shares of our common stock in the full amount available for an Accelerated Purchase, on the date of such Accelerated Purchase (which is the business day following the corresponding Regular Purchase), we may also direct Lincoln Park to purchase an additional amount of our common stock under the same terms set forth above for an Accelerated Purchase (an “Additional Accelerated Purchase”).
In the case of Regular Purchases, Accelerated Purchases and Additional Accelerated Purchases, the purchase price per share will be adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction as set forth in the Purchase Agreement. Other than as set forth above, there are no trading volume requirements or restrictions under the Purchase Agreement, and we will control the timing and amount of any sales of our common stock to Lincoln Park.
Upon the filing of this prospectus supplement, we issued to Lincoln Park 75,000 Commitment Shares and we are obligated to issue up to an additional 75,000 shares of common stock to Lincoln Park pro-rata in connection with the sale of Purchase Shares to Lincoln Park under the Purchase Agreement, in each case as consideration for Lincoln Park’s irrevocable commitment to purchase shares of our common stock at our direction under the Purchase Agreement.
Suspension Events
Suspension events under the Purchase Agreement include the following:
? the effectiveness of the registration statement of which this prospectus forms a part, or any other registration statement registering securities under the Purchase Agreement, lapses for any reason (including, without limitation, the issuance of a stop order), or any required prospectus supplement and accompanying prospectus are unavailable for the sale by Lincoln Park of our common stock offered hereby, and such lapse or unavailability continues for a period of 10 consecutive business days or for more than an aggregate of 30 business days in any 365-day period;
? suspension by our principal market of our common stock from trading on the Nasdaq Capital Market for a period of three consecutive business days;
? the delisting of the common stock from the NASDAQ Capital Market; provided, however, that the common stock is not immediately thereafter trading on the New York Stock Exchange, the NASDAQ Global Market, he NASDAQ Global Select Market, the NYSE American, the NYSE Arca or the OTC Bulletin Board, OTCQX or OTCQB operated by the OTC Markets Group, Inc. (or nationally recognized successor to any of the foregoing);
S-11
? our transfer agent’s failure for three business days to issue to Lincoln Park shares of our common stock which Lincoln Park is entitled to receive under the Purchase Agreement;
? any breach of the representations or warranties or covenants contained in the Purchase Agreement or any related agreement which has or which could have a material adverse effect on us subject to a cure period of five business days;
? any voluntary or involuntary participation or threatened participation in insolvency or bankruptcy proceedings by or against us; and
? if at any time we are not eligible to transfer our common stock electronically as DWAC shares or a material adverse change in our business, financial condition, operations or prospects has occurred.
Lincoln Park does not have the right to terminate the Purchase Agreement upon any of the suspension events set forth above. During a suspension event, all of which are outside of Lincoln Park’s control, shares of our common stock cannot be sold by us or purchased by Lincoln Park under the Purchase Agreement.
Our Termination Rights
We have the unconditional right, at any time, for any reason and without any payment or liability to us, to give notice to Lincoln Park to terminate the Purchase Agreement. In the event of bankruptcy proceedings by or against us, the Purchase Agreement will automatically terminate without action of any party.
No Short-Selling or Hedging by Lincoln Park
Lincoln Park has agreed that neither it nor any of its affiliates shall engage in any direct or indirect short-selling or hedging of our common stock during any time prior to the termination of the Purchase Agreement.
Amount of Potential Proceeds to be Received under the Purchase Agreement
Assumed Average Purchase Price Per Share Number of Registered Shares to be Issued if Full Purchase(1)(2) Percentage of Outstanding Shares Issued After Giving Effect to the Issuance to Lincoln Park(3) Proceeds from the Sale of Shares Under the Purchase Agreement Registered in this Offering
$ 8.00 15,469,547 16.7 % $ 123,756,376
$ 10.00 15,000,000 16.2 % $ 150,000,000
$ 11.26 (4) 13,321,492 14.7 % $ 150,000,000
$ 13.00 11,538,462 13.0 % $ 150,000,000
$ 15.00 10,000,000 11.5 % $ 150,000,000
_______________
(1) Includes the total number of Purchase Shares which we would have sold under the Purchase Agreement at the corresponding assumed purchase price set forth in the adjacent column, up to the additional aggregate purchase price of $150,000,000. Excludes the 75,000 Initial Commitment Shares issued to Lincoln Park upon entering into the Purchase Agreement, and the 75,000 Additional Commitment Shares issuable in connection with sales of Purchase Shares to Lincoln Park.
S-12
(2) The Purchase Agreement prohibits us from issuing or selling (including the Commitment Shares) to Lincoln Park under the Purchase Agreement (A) any shares of our common stock in excess of the Exchange Cap unless (i) we obtain stockholder approval to issue shares of our common stock in excess of the Exchange Cap or (ii) the average price of all applicable sales of our common stock to Lincoln Park under the Purchase Agreement equals or exceeds the official closing price of our common stock on the Nasdaq Capital Market immediately preceding the date of the Purchase Agreement, plus an incremental amount to account for the issuance of the Additional Commitment Shares, as calculated in accordance with Nasdaq rules, and (B) any shares of our common stock if those shares, when aggregated with all other shares of our common stock then beneficially owned by Lincoln Park and its affiliates, would exceed the Beneficial Ownership Limitation.
(3) The denominator is based on 78,032,135 shares outstanding as of February 3, 2023, adjusted to include the issuance of (i) the 75,000 Commitment Shares issued to Lincoln Park upon the filing of this prospectus supplement, and (ii) the number of shares of common stock (including Additional Commitment Shares) which we would have sold and issued to Lincoln Park, assuming the purchase price in the adjacent column. The numerator is based on the number of Purchase Shares set forth in the adjacent column which we would have sold under the Purchase Agreement at the corresponding assumed purchase price set forth in the adjacent column.
(4) The closing price of our common stock on February 3, 2023.
Thank you for sharing other's thoughts out there!
And, LPC is working for free?
Here’s some interesting information about our primary source of funds, Lincoln Park Capital. This is from 2020: https://utopiacap.com/lincoln-park-capital/
Is it any wonder Anavex gets no respect from serious biotech investors?
Precision medicine requires precision recruiting. Not rocket science.
SAVA took less than a year to recruit 953 patient, they are targeting to finish 1750 recruits by end of this year, meaning within 2 year trial will be fully recruited. Other hand great Anavex took 3 year to recruit meager 500 patient, then another year to complete trial and god knows how many years/decade to get full data or bury it.
They spread an ocassional
1/2 @ Hard Rock Tampa.
Missling is invited anytime, unless he thinks that is beneath him.
Haven't relied on a paycheck since '07.
Not quite that young. You do know that ERN HEAVEN is now an 18 yo!
Do you know how much it will cost to run a P4 for AD?...Just think of the number of patients who will take the prescription....Thinking of that....We need more pills available!!
And you know all about running a show?
LMAO!!
Messling needed to be gone back in 2019.
He’s just too incompetent missing every self-imposed Milestone and just announcing more toxic dilution. What an SOB.
No wonder employees are still on winter break living luxurious lifestyle knowing Shareholders will foot the bill for their NEVER missed yearly bonuses and salary increases.
LOL!!
Can't wait for criminal charges to be levied and see perp walks from the corrupt hedge funds. Will we be missing some familiar names?
Keep depositing your NWBO and AVXL shares, you will get good return in 50year...collect in grave.
That’s a remarkable causal link. I wonder why the FDA will even bother reviewing the Alz data. The fact that AVXL signed an ATM agreement proves that the data are bad. Congrats on the worst dot connecting in the history of this board.
There is no difference between the Cantor ATM and the LPC ATM in that respect. I have always favored ATMs over one-time offerings—less opportunity for tanking the pps to get a lower offering price. Missling gets to choose when, and at what price, he issues shares. An excellent move, this ATM, in my opinion. We don’t need it now but it will be there if needed.
It’s not necessarily that the AD data is bad, although it certainly could be. I think it has more to do with the fact that Missling does not want to have to answer to institutional investors. He likes to run his show his way and not have to be held to account. It should be obvious to all but the willfully blind that Missling is a one-man band who answers to no one, including his weak board of directors and his shareholders.
I’m sure a lot of people on this board disagrees with most anything that you say.
Don’t really have a winning track record
Meanwhile - And yet https://www.yahoo.com/entertainment/had-bought-anavex-life-sciences-123405650.html And since that article was written the stock has soared from $3.17 to over $11! What an amazing return for investors.
Check this LPC article. Misleading went back to LPC even though he could have gone traditional way to raise capital tells me AD data is not good and it will never come out, he might quietly announce another phase 3. Rett not sure data readout will happen this year, for NDA he need detail data and that takes years for him, PDD no one cares anymore.
LPC vulture
Then Missling needs to get his ass and the NDA to the FDA and stop dragging his feet. Not set up another ATM the same day he announces we have 4 years of cash.
We credit Dr.M. that this is not just a conventional card game of wits. AD is about people (family members) getting treatment or not for a disease that will kill them. The sooner a few liars-criminals-get executed to demonstrate seriousness ,, the better.
I've always suspected it, but now we know from where he gets his post material...
Was able to pick up a few again this morning:) ++++
He saw the writing on the wall, or was it bowl.
As in toilet bowl
High stakes poker being witnessed here.
Odds aside, pun intended, human nature is explained in a high stakes poker table.
Who would of thought Dr.M was a grand master at poker too?
Oh by the way did we loose investor?
Did he finally sell all his shares?
Is it small enough to be negative?
How many shares do you owe?
Asking for a friend...
I agree. And this is where I think many shareholders will regret cheering on corporate stock buybacks when cash flow was rolling.
Assuming Missling wants to release ATM shares to LPC:
Who do you think will be calling Lincoln Park Capital for shares? Hedge Funds? Others?
If the price goes up above $13.50, I would assume that some of the short inventory will be reduced as much as they can to cover by some short sellers...so I guess I'll watch the price and volume, etc. for some sort of momentum increase before another news event!
Missling apparently wants "something positive to happen" before his 500,000 options expire on July 5th struck at $1.67....I watch price and volume action to get on the right side of this....
BTW, I believe next short interest report comes after the close on Feb. 9th
we may even break $12 today.JUST HOLD ON TIGHT LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOONGS
Yea, the people who have bought and held for the last few years are broke now - And yet https://www.yahoo.com/entertainment/had-bought-anavex-life-sciences-123405650.html And since that article was written the stock has soared from $3.17 to over $11! What an amazing return for investors.
looking great today with all the ATM noise.HOLD ON TIGHT LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOONGS
2 years… is the cash on hand..
As our company grows.. he grows cash on hand to be for two years..
If you want less dilution .. get a higher MC
Seeing good counterpoints to the negative FUD lately, good work.
File this under "U" for uncertainty that both bulls and bears will speculate on:
Turns out the agencies have a bit of say in that and we will have to wait until they opine.
Once it becomes clear what the path forward is on AD only then will Missling begin negotiations on a partnership.
So I think your prognostications are premature and based on nothing.
Actually perhaps the biggest disagreement with some of the
expressed views here (not just yours).
While Revenue may be the unrealistic hope near term of a certain
contingent, it WILL require more not less expenditure.
It is likely years not weeks away and certainly not by 2/10.
We will know this time next year with three additional quarterly
financials if I am correct. Let's call it Febish '24 and cause a real stir.
Burn rate should be reduced by the conclusion of the Rett and AD trials, until additional trials are started.
Followers
|
1073
|
Posters
|
|
Posts (Today)
|
11
|
Posts (Total)
|
462748
|
Created
|
12/18/07
|
Type
|
Free
|
Moderators RedShoulder Steady_T Bourbon_on_my_cornflakes kund mike_dotcom nidan7500 |
Anavex®Life Sciences Corp. (the “Company”) is a clinical stage biopharmaceutical company engaged in the development of differentiated therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases including drug candidates to treat Alzheimer’s disease, other central nervous system (“CNS”) diseases, pain and various types of cancer. The Company’s lead compound ANAVEX®2-73 is being developed to treat Alzheimer’s disease, Parkinson’s disease and potentially other central nervous system diseases, including rare diseases, such as Rett syndrome.
Anavex®Life Sciences’ lead drug candidate, ANAVEX®2-73, recently completed successfully a Phase 2a clinical trial for Alzheimer’s disease. ANAVEX®2-73 is an orally available drug candidate that restores cellular homeostasis by targeting sigma-1 and muscarinic receptors. Preclinical studies demonstrated its potential to halt and/or reverse the course of Alzheimer’s disease. It has also exhibited anticonvulsant, anti-amnesic, neuroprotective and anti-depressant properties in animal models, indicating its potential to treat additional CNS disorders, including epilepsy and others. The Michael J. Fox Foundation for Parkinson’s Research has awarded Anavex® a research grant to develop ANAVEX®2-73 for the treatment of Parkinson’s disease to fully fund a preclinical study, which could justify moving ANAVEX®2-73 into a Parkinson’s disease clinical trial. ANAVEX®3-71, also targeting sigma-1 and M1 muscarinic receptors, is a promising preclinical drug candidate demonstrating disease modifications against the major Alzheimer’s hallmarks in transgenic (3xTg-AD) mice, including cognitive deficits, amyloid and tau pathologies, and also with beneficial effects on neuroinflammation and mitochondrial dysfunctions.
The Company is in preparation for ANAVEX®2-73 for a Phase 2/3, placebo-controlled trial in Alzheimer’s disease as well as a Phase 2, placebo-controlled trial in Rett syndrome, for which the U.S. Food and Drug Administration (FDA) granted Orphan Drug Designation (ODD) for ANAVEX®2-73 and a Phase 2, placebo-controlled trial in Parkinson’s disease.
Headquartered in New York, Anavex® Life Sciences is an American publicly traded corporation on Nasdaq quoted as AVXL
.Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |