Shares of Anavex Life Sciences dropped after their Anavex 2-73 study did not meet its primary endpoint. Although there were some positive findings, the overall results were disappointing.
Shares of Anavex Life Sciences (NASDAQ: AVXL) dropped by 30% to $6.50 following the announcement that the Anavex 2-73 study did not meet its primary endpoint. The Phase 2/3 trial aimed to assess the clinical efficacy, safety, and tolerability of 30 mg Anavex 2-73 in 92 pediatric patients with Rett syndrome.
However, the study did not meet the other co-primary endpoint, the Clinical Global Impression-Improvement scale.
In an ad-hoc analysis, Anavex-treated patients demonstrated improved LS Mean points on their RSBQ total score compared to placebo-treated patients after 12 weeks of treatment. Nevertheless, the difference of -4.61 points between the treated and placebo groups was not statistically significant.
The key secondary endpoint, the Anxiety, Depression, and Mood Scale, showed a positive trend.
Preliminary safety results indicate that there were no new safety concerns observed during the study. This reinforces the favorable and manageable safety profile of Anavex 2-73 observed thus far. The most common treatment-related adverse events in the drug-treated group were mild to moderate somnolence and lethargy.
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