Anavex Life Sciences Corp (AVXL)

[boi568]

Daybue reported -5.1 treated and -1.7 placebo. That's a 3.4 delta versus our 4.6 delta. They got to stat sig with a much lower dispersion around the mean.

I think their placebo rate was minimized because their trial was effectively unblinded; if your kid wasn't getting diarrhea, you knew she was on the placebo. Conversely, in our trial you knew your chances of your daughter being on the drug was 2 out of 3 due to the trial design (even when she wasn't).

So their placebo effect was low and ours was high. Our placebo effect built up both arms of the trial, as always, inflating to the -12.9, and certainly relative to Daybue.