Anavex Life Sciences Corp (AVXL)

[A_Good_Day_2]

I'm new to this so please correct me if I'm not understanding this correctly. I have been looking at the wording on the PR very closely, and I am understanding it differently than others seem to be.

The PR states that the +1.8 in MMSE and the +4 in ADCS-ADL are being measured "in comparison to historical control from a pooled placebo arm cohort study" and not in comparison to where the patients started at the beginning of the trial. They don't say that the patient's MMSE and ADCS-ADL scores improved...instead they are talking about a "calculated treatment benefit".

It sounds to me like they are saying: "If we look at this other study that was already conducted we see that AD patients who receive a placebo deteriorate a certain amount in the course of one year. Therefore, based on the scores that our patients scored during this current trial, we can assume that if they hadn't been treated with A2-73 they would have scored 1.8 points lower on MMSE and 4 points lower on ADCS-ADL"

This is good, but it wouldn't tell me if the drug is working better or worse than the SOC or any other drug in development. A +1.8 departure from what someone would have scored if they had not been treated is good, but is that still going down, just not as fast as placebo?

Am I making sense??