Anavex Life Sciences Corp (AVXL)

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I still have a lot invested, but I've cut my holdings back.

My belief is that now is not the time to sell out (except perhaps involving income tax considerations) a position in AVXL if an investor has large unrealized losses that might approach in the 50% to 80% range. In my case, I will continue to hold shares (for the potential benefit to beneficiaries) with the belief that the AVXL platform will eventually reward investors. The optimum time to have sold out a AVXL position may be long past.

The fact that Missling recently pivoted to 3-71 in schizophrenia for the next AVXL clinical trial may have been a "tell" that AVXL's focus solely on 2-73 has shifted, but I raise that only a possibility that I certainly do not claim as fact. For years, Missling has guided shareholders to expect 2-73 trials to begin "soon" in numerous other indications beyond AD and Rett Syndrome. Now, over a year since CTAD 2023, Missling remains stone cold silent about 2-73 insofar as the FDA is concerned. I've always felt that waiting eighteen months after a supposedly totally successful pivotal trial ends and putting all the chips on a peer reviewed journal article was suspicious and did not seem to demonstrate confidence in the trial results. So far as I know, there was nothing to prevent AVXL from filing a U.S. NDA last year since AVXL declared the trial to be a total success. Then again, we know nothing about AVXL's interactions with the FDA, which might not have been encouraging (I'm assuming after all this time that there has been some communication with AVXL). It's a total unknown given Missling's tendency to hide everything under a veil of secrecy. I was encouraged that AVXL is moving forward with a MAA in Europe but I surely wouldn't put that in the WGT column. In short, AVXL remains a crap shoot with an unpredictable outcome.