Anavex Life Sciences Corp (AVXL)

[XenaLives]

Shares of Anavex Life Sciences Corp. (AVXL) edged up 1% in morning trading after the biopharmaceutical company said its experimental mid-stage treatment for Alzheimer's disease reported lower rates of cognitive decline. Interim data is expected to be presented at the Clinical Trials On Alzheimer's Disease conference later this week. Biogen's (BIIB)controversial decision (http://www.marketwatch.com/story/biogens-shares-drop-on-analyst-critic-of-alzheimers-data-2019-12-02) to introduce a fresh analysis for aducanumab, its Alzheimer's treatment candidate, at CTAD is driving investor interest in other companies developing therapies for the difficult-to-treat disease. "Our point here is not to argue the validity of Biogen's data but to point out that by comparison how compelling the Anavex data looks to us, given its differentiated mechanism of action and all of the clinical studies from pre-clinical animal models to the current programs that support the drug," Dawson James Securities analyst James Kolbert wrote Dec. 2. Anavex stock has rallied 51% year-to-date, while the S&P 500 is up 24%.

-Jaimy Lee; 415-439-6400; [e-mail]



(END) Dow Jones Newswires

December 04, 2019 10:13 ET (15:13 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

The December 2 report referred to may have been privately distributed because I can't find it on the web.