Anavex Life Sciences Corp (AVXL)

[Doc328]

2-73 patients, in the P300 amplitude tests, did only slightly better than the donepezil patients. But the 2-73 patients improved in 1 month vs the donepezil 6 months. Figure 7.

The patent only compares the 5 week Anavex ERP data to multiple Donepezil timepoints but Anavex has 17, 31, 43 and 52 week data (see Investor2014's post)

From Figure 7 in the patent, looking at the ERP P300 amplitude improvements, A273 beats Aricept at one month. However, from the above link, Aricept/donepezil beats A273 later on (month 3 and 6 DPZ vs. weeks 17 and 31 A273). We don't know how the 2 would compare at +/- one year.

From Investor's link, the A273 data was all over the place, quickly improving at 5 weeks then also as quickly going back to baseline at 17 and 31 weeks and then shooting up above 'healthy control' at 52 weeks. These swings do not make physiologic sense. If Anavex had used the 31 week data in the patent, they would have needed to explain why Donepezil is better than A273. Since Donepezil is not too strong, this is not the narrative that Missling wants. I think these swings might also explain why they opted not to use ERP P300 in the Phase 2a/3...it's just not that great of a biomarker.