Replies to post #454124 on Anavex Life Sciences Corp (AVXL)

[frrol]

Missling's serial endpoint fumbles made him, and the company unfortunately, a lawsuit waiting to happen. The complaint lays out the Rett saga (Avatar and Excellence) pretty well, and includes analyst comments. Re the AD fumbles, we may get some clarity from the research paper on the SAP (specifically, the odds risk gauges) that could head off legal claims. If not, there may be an AD claim filed in the future.

The fumbling seems why the board took away Missling's chairmanship. We did some biostat hiring that would have fixed these problems, but Missling still managed to screw up the Excellence endpoints with CGI mysteriously becoming "primary" again, with no notice or justification (actually contradicting his earlier comments on CGI). Bizarre.

Let's see how the company responds. Aside from our legal response, it would be good to see Missling handing over trial progress and results disclosures to someone more credible and careful.

[boi568]

I have read the Complaint. It is a rehash of Anavex not giving blow-by-blow updates to its endpoint methodologies in AVATAR and EXCELLENCE. It claims, but in no way demonstrates, bad intent on the part of the company. Early in the Complaint the plaintiffs admitted they expect to demonstrate this through discovery, so they presently have nothing.

The Complaint makes no attempt to demonstrate how Anavex's stock price was inflated by the changing versions of its Rett trial endpoints. I would be interested, for example, in seeing how these plaintiffs are going to gather affidavits from stockholders to the effect of "I would never have bought Anavex stock had I known that the EXCELLENCE study was going to use RSBQ and CGI-I as co-primary endpoints instead of RSBQ AUC anchored to CGI-I." It's ridiculous.

The Complaint also seems to overlook the effect on the stock price of the Anavex PR on EXCELLENCE not meeting endpoints, choosing instead to blame changed methodology as the reason for the stock's subsequent decline. Again, ridiculous.

At least the plaintiffs didn't quote Feuerstein in the Complaint.

This is no more than a nuisance case. It either settles for low five figures, or is dismissed on a motion for failure to state a claim. Meanwhile, the shorts get to harass the company on this disguised pressrelease.

[BIOChecker4]

I read the entire complaint. The WGTers, who likely won’t read the complaint, will nevertheless dismiss this as a nothing burger and conspiracy perpetrated by Adam Feuerstein and an imaginary paid cabal. However, I would encourage everyone to read the entire complaint and decide for yourselves whether you think this case is cause for real concern. The accusations, support by abundant evidence, are clearly laid out and in my opinion quite devastating.

It’s no wonder Missling is lying low.