Anavex Life Sciences Corp (AVXL)

[WilliamMunny]

Excellent analysis, as always, Clark. Agree on all three points. Allow me to add a thought or two for each.

1) In the past Missling has alluded to ongoing conversations about partnerships/licensing. Here, I believe, it specifically came up in relation to RETT. The latter is new, since heretofore RETT was categorized as DIY, as opposed to AD or PD. While I always imagined that he meant primarily meant the English speaking countries, today’s commentary is interesting not only for the word “unsolicited” that you highlight, but also for allowing that the partnerships and/or licensing on RETT might be broader than I previously thought.

2) I think that Kun Jin was already helpful in steering Missling toward watching the Lecanemab process and then waiting for the various biomarker results, resulting in the serious consideration of AA. And, yes, Missling would not likely to have been bold enough to publicly suggest that he might be able to use the OLE as a confirmatory trial without a confirmatory nod from Kun Jin. (I’m sure Missling is also using him as a critical touchstone in deciding if RETT is to precede AD in data release and/or filing for approval.)

3. Getting down to individual words employed, I also believe that surprise is good for the reason you suggest and that it conveniently has two meanings here. I might even suggest that Herr Doktor Missling had the German word “überraschen“ rolling around in his head before “surprise” came out. Google translates it as “surprise, astonish, astound, overtake, and take aback.” As a final note, and not to be picky, Missling actually said at the ASM that we would really “enjoy” the results. Of the many things I like, only a few do I really enjoy!