Anavex Life Sciences Corp (AVXL)

[Doc328]

I've felt that A273 should perform similarly to donepezil as mechanisms are similar but possibly be better tolerated.

For PDD, in a a large study of 550 patients, donepezil did not perform better than placebo in the primary endpoint (ADAS-Cog) though did have a significant benefit for a test of attention and other endpoints. Thus, they never got FDA approval for PDD (already had FDA approval in AD). Tehrefore, I feel there is a chance of benefit of 25-50% if performed in a large study (ie +/- 550 patients like donepezil or rivastigmine) and about 20% in a small study like the phase 2.