Anavex Life Sciences Corp. (NASDAQ:AVXL) Q4 2023 Earnings Call Transcript Insider Monkey Transcripts Fri, Dec 1, 20234 min read
In This Article: AVXL -0.97% Anavex Life Sciences Corp. (NASDAQ:AVXL) Q4 2023 Earnings Call Transcript November 27, 2023
Anavex Life Sciences Corp. beats earnings expectations. Reported EPS is $-0.12, expectations were $-0.16.
Operator: Good morning, and welcome to the Anavex Life Sciences Fiscal 2023 Fourth Quarter Conference Call. My name is Clint Tomlinson and I will be your host for today's call. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session. During this session, if you would like to ask a question, please use the Q&A box or raise your hand. Please note that this conference is being recorded and the call will be available for replay on Anevex's website at www.anevex.com. With us today is Dr. Christopher Missling, President and Chief Executive Officer; and Sandra Boenisch, Principal Financial Officer. Before we begin, please note that during this conference call, the company will make some projections and forward-looking statements.
These statements are only predictions based on the current information and expectations and involve the number of risks and uncertainties. We encourage you to review the company's filings with the SEC. This includes without limitation the company's forms 10-K and 10-Q, which identify the specific factors that may cause actuary results or events to differ material from those described in these forward-looking statements. These factors may include without limitation risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. And with that, I'd like to turn the call over to Dr. Missling.
Christopher Missling: Thank you, Clint. And good morning, everyone. Thank you for being with us today to review our most recently reported financial results and to give our quarterly business update. We are very excited to be entering a new phase of the company's history. For the first time, we initiated the process of submitting a marketing authorization application to the European Medicines Agency, EMA, for blarcamesine related to the treatment of Alzheimer’s disease. Relatedly, we are starting to explore possible commercial activities and examining innovative strategies to effectively engage patients, providers and payers. There is a high demand from Alzheimer’s disease patients and families for easy access and scalable treatment options.
We are striving to work towards presenting a drug that will potentially improve patients' lives with our precision medicine oral blarcamesine, which is intended to reduce the need for complex procedures for the treatment of people with Alzheimer’s disease. According to the European Brain Council, there are an estimated 7 million people in Europe with Alzheimer's disease, a number expected to double by 2030. Full data from the blarcamesine in Alzheimer’s disease Phase 2b/3 randomized clinical trial in Alzheimer's disease will be published in an upcoming peer-reviewed journal. Also the respective open-label extension 96-week trial ATTENTION-AD is ongoing. Regarding Rett syndrome, we are on track for top-line data of potentially pivotal ANAVEX2-73-RS-003 Phase 2/3 EXCELLENCE pediatric clinical trial.
Regarding the Parkinson disease program, we are in preparation to initiate the ANAVEX2-73 imaging-focused trial and the ANAVEX2-73 Phase 2b/3 six months trial. Related to Schizophrenia, we are in preparation to initiate the Phase 2 clinical trial with ANAVEX3-71, our second clinical stage small molecule. With respect to Fragile X, we are in preparation to initiate a potentially pivotal ANAVEX2-73 Phase 2/3 clinical trial. And related to New Rare disease, we are in preparation to initiate a potentially pivotal ANAVEX2-73 Phase 2/3 clinical trial. We are also expecting further peer-reviewed clinical publications involving ANAVEX2-73 and ANAVEX3-71. In October, we announced a new peer-reviewed publication in the journal Neurobiology of Aging, titled, early treatment with an M1 and sigma-1 receptor agonist prevents cognitive decline in a transgenic rat model displaying Alzheimer-like amyloid pathology, featuring the orally available small molecule ANAVEX3-71.
