Anavex Life Sciences Corp (AVXL)

[Investor2014]

Co-primary is plural and in this case means 2 - only one of those (ADAS-Cog13) was met and the other (ADCS-ADL) was not statistically significant. There was one secondary functional endpoint (CDR-SB), which was met.

The multiplicity rule was used to replace the ADCS-ADL failed endpoint with the secondary CDR-SB one to make the trial "successful" as described.

Hence the first statement made by Anavex was demonstrably incorrect, certainly by the language and the use of "both" as applied by Anavex.

We never initially were provided with the ADL result and instead some Odds Ratio meaningless nonsense that the company has now abandoned and rightly so accepted that ADL was not significant.

We must assume, but can't know, that the SAP as claimed by Missling indeed has the multiplicity rule and use of the secondary functional endpoint in the hierarchy just below the per protocol CO-PRIMARY endpoint.