Anavex Life Sciences Corp (AVXL)

[abew4me]

It was purchased for $8.7 Billion...and it failed miserably.

AbbVie purchases neuroscience developer Cerevel for $8.7 billion

AbbVie said Monday that its experimental treatment for schizophrenia failed to significantly help patients in two trials, a blow to the company, which got the drug through its recent $9 billion acquisition of Cerevel Therapeutics.

In Phase 2 studies, patients on different doses of the drug, called emraclidine, did not experience significant improvements on a test called the Positive and Negative Syndrome Scale (PANSS) compared with the placebo group.

https://www.statnews.com/2023/12/06/abbvie-purchases-neuroscience-developer-cerevel/