Anavex Life Sciences Corp (AVXL)

[Steady_T]

Sure there is a chance that a change in CEO might bring a long term improvement, just as there is a chance a new CEO could make things worse.

Consider that if the Rett trial had not had such a strong response in the placebo group there would be an NDA filed by now and Missling would be a hero.
Also consider that if the trial had been larger it would not necessarily have come out differently and Anavex would still be in the same place.

There are legitimate criticisms of Missling's communication strategy and the way Anavex handled the trial endpoint communications. At the same time Missling has positioned the company very well in my estimation. Most of the recent clamor for Missling to be replaced is a result of a single trial outcome that was unexpected. My point is that demanding Missling's job based on the unlikely result of trial seems more like an expression of frustration than a serious evaluation of his overall performance.

I make no apology for Missling nor do I claim he is the golden child. He is a CEO managing a developmental stage biotech through a difficult developmental process, attempting to get a drug or drugs approved and on the market. That process has ups and downs as can be seen by looking at other developmental drug companies. The failure rate of bio tech developmental companies is quite high and it appears to me that Anavex is negotiating that process pretty well with a very good chance of success.