Anavex Life Sciences Corp (AVXL)

[12x]

It's a no-brainer to me to hold off starting any trials till either AD or Rett ph3 results are out. The reasons are straightforward:
1. Anavex already has the largest indication (AD) and one easiest (Rett) indication in ph3, there is no incentive to start any other trials unless the company has capital and resources to spare (but Anavex has neither).
2. It costs between 600k and 1M per patient per trial. The 150M on the Anavex balance sheet is not going to get you very far before running out the money.

A better option (which Anavex is executing) is to hold onto the cash and wait for AD and Rett ph3 TLD. If AD ph2b/ph3 results are good, Anavex is probably worth tens of billions and it has enough capital to start as many trials as it desires.
If AD ph2b/ph3 results are not good, there is still enough capital to finish Rett and try any luck with 3-71.