Anavex Life Sciences Corp (AVXL)

[boi568]

Doc,

I am interested in what factors have persuaded you to come to predicting a 20% chance of success.

Are you skeptical of the theory of Anavex's case for 2-73 across CNS diseases? (If so, why?)

Are you concerned with imprecision in trial design measurements that would hurt the p value?

Has your experience to date with so many biotech failures led you to believe this will also likely fail to achieve a p of less than .05 for the primary endpoint and the secondary sleep endpoint?

Or is it something else?

Thanks.