Anavex used the term Proof of Concept for its successful Phase 2 PDD trial, which was clearly exploratory and not intended to be potentially pivotal. This is in contrast to its successful AD 2b/3 trial, which has already persuaded the EMA to green light a pre submission process, and the 2b/3 AVATAR and upcoming EXCELLENCE trials, which will form the basis for an NDA effort. None of those others were labeled Proof of Concept.
Why did the PDD trial description trigger you? As an investor in Anavex, were you upset by its promising results?