Read the complaint document from the class action. They have documented a chronological order of how Misleading has misled investors using different statistical methods and endpoints to suit his narrative. It's a fascinating read.
Upon the release of the Excellence study results, the market realized the truth: Anavex cherry picked outcomes and used stylized statistics to rope along investor hopes on a drug unlikely to succeed.
Later, during a January 11, 2024 presentation at the J.P. Morgan Annual Healthcare Conference, Missling spoke about the Excellence study. He claimed “this study was not fully powered. Was a Phase II/III. And it is not that we were not happy about it, but we had observed a little bit too high of a placebo effect . . . .” He did not mention the Company’s previous press releases announcing the study exceeded enrollment targets.
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