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Jones sees Anavex as ‘clear M&A goal’ after Alzheimer’s drug’s trial success

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Fabrice Cabaud

Anavex Life Sciences (NASDAQ:AVXL) inventory rose ~62% premarket after its oral drug ANAVEX2-73 (blarcamesine) met the principle objective of a section 2B/3 trial in sufferers with early Alzheimer’s illness, which led Jones Analysis to double its value goal on the shares to $80 whereas reiterating a Purchase ranking.

Jones believes that as market takes within the information, Anavex will “come out as a transparent M&A goal.” Nonetheless, the agency nonetheless wants extra particulars on the information.

Earlier within the day, Anavex reported outcomes which confirmed that ANAVEX2-73 (blarcamesine) met the principle targets of ADAS-Cog (a measure a number of cognitive domains) and ADCS-ADL (a check of fundamental and instrumental actions of day by day dwelling) with statistically vital outcomes.

Jones famous that there was a transparent win proven by ADAS-Cog, as ANAVEX2-73 slowed cognitive decline by 45% at 11 months, versus 27% at 18 months for Biogen (BIIB) and Eisai’s (OTCPK:ESALF) (OTCPK:ESALY) drug lecanemab.

On Scientific Dementia Ranking Scale Sum of Packing containers (CDR-SB), ANAVEX2-73 confirmed 27% at 11 months, versus 18 months for lecanemab.

As well as, Anavex drug confirmed a superb security profile with no issues on mind edema (swelling of mind), versus ~13% for mind swelling and 17% for mind bleeding for lecanemab.

AVXL +61.78% to $14.35 premarket Dec. 2

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