Yes. During this Memorial Day weekend, I remember my friends that perished in Vietnam in the late 1960s. It is the least I can do. I am here, and they are not. Since Vietnam, I have witnessed many developments that they have missed, and it is because of the past sacrifices of those, like my friends, that we continue to advance in a free and open society based on the rule of law.
I am thankful to be here and witness progress as we move forward. I believe we are on the cusp of a transformation that, in the next 5 to 10 years, will dramatically improve the quality and extension of lives for those of us that are fortunate enough to be on this earth. Anavex will be a small but for us a significant part of this metamorphosis.
I believe we are in stage 1 Anavex share price consolidation phase commencing around March 26 that will eventually result in a move that punches through the $4.00 mark. The share price may move lower in the short term. We are in between news about our three clinical trials. However, we have had some meaningful buying from March 26 to date, and that is because we are attacking more attention based on the progress that Anavex has made.
Anavex has made smart moves in conducting its clinical trials in Australia and Spain. Enrollment for the phase 2 study for the treatment of Parkinson’s disease dementia is now 70% of target. Topline results are expected before the end of the year. Patient enrollment for the phase 2 study to treat Rett syndrome is at 40%. We will be receiving news from the Rett trial this year as well.
Anavex will also be launching the AVATAR (Rett) study in Australia where approximately 30 patients will be enrolled in a phase 2 double-blind, randomized, placebo-controlled study of ANAVEX2-73 for the treatment of Rett syndrome. The Australian government will pay around 40% of the cost of the AVATAR trial.
Enrollment for the phase 2b/3 study to treat Alzheimer’s disease has reached 20%. I know some are disappointed that the Alzheimer's trial is lagging behind the Parkinson's and Rett trials, but I believe that what we learn and gain from the Parkinson's and Rett trials will be beneficial and helpful for the advancement and eventual success of our Alzheimer's drug.
Our science is sound. Our animal and human studies have been positive, Anavex is not a one trick pony, and we have multiple chances of success. We have cash on hand for the time being and the means to raise more cash. However, we may not have to raise additional cash if we obtain results from the Parkinson's and/or Rett trials that may culminate in a partnership arrangement, which we need to help with efforts to obtain approval and marketing of AVXL 2-73 for Alzheimer's. Bio says the odds of regulatory approval for AVXL 2-73 is very high (near 90%), and I believe him.
Lastly, we all need to have faith and courage like Billy.
AI
