Anavex Life Sciences Corp (AVXL)

[growingpain]

Anavex has now removed the CTAD presentation from its website and this is the right thing to do. You cannot present likely one of the best outcomes in the history of AD trials in such a sloppy and embarrassing way. Why feed the shorts?

I was looking through the figures in detail and there are so many errors. Many people hurried to highlight the difference between the baselines reported in these two slides. Which may be one of the things they got right actually as the first likely presents the baselines before some patients dropout.



But just looking at the second slide, you can spot not one but three errors:
1) The mean changes are incorrect. This would not be a big problem if the mean change you can compute from the first two columns was smaller. However, it is larger (2.74 instead of 2.26). If you use that one to compute the p-value, the trial fails to meet the endpoint. They need to clarify this asap.
2) The confidence interval is so narrow that is most likely wrong.
3) They have the p-value under the "relative reduction in decline," which is a sloppy presentation mistake as the p-value corresponds to the first panel of the table.

I will send these to IR and let you know if I hear anything.