Lawsuit filed for Investors who lost money with shares of Anavex Life Sciences Corp. (NASDAQ: AVXL)

An investor, who purchased shares of Anavex Life Sciences Corp. (NASDAQ: AVXL), filed a lawsuit in New York over alleged violations of Federal Securities Laws by Anavex Life Sciences Corp. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Anavex Life Sciences Corp. (NASDAQ: AVXL) have certain options and for certain investors are short and strict deadlines running. Deadline: May 13, 2024. NASDAQ: AVXL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

New York based Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of drug candidates for the treatment of central nervous system (CNS) diseases.

Before the market opened on February 1, 2022, Anavex Life Sciences Corp. announced that a phase 3 trial of ANAVEX2-73 (blarcamesine) for Rett syndrome met primary and secondary endpoints. Following the announcement, several people on social media indicated that the primary and secondary endpoints were recently changed. STAT's Adam Feuerstein tweeted, "Anavex changed the primary and secondary endpoints of this Rett study on Jan. 18, allowing it to claim success when the drug most likely failed."

On December 2, 2022, Anavex Life Sciences Corp. announced positive topline results from its Phase 2b/3 ANAVEX®2-73-AD-004 clinical trial of oral ANAVEX®2-73 (blarcamesine) for the treatment of mild cognitive impairment (MCI) due to Alzheimer's disease (AD) and mild AD (collectively known as early AD). ANAVEX®2-73 met the primary endpoints ADAS-Cog1 and ADCS-ADL2 and key secondary endpoint CDR-SB3 with statistically significant results. An analyst questioned the Company's claim noting "there are several key factors that point us to believe the data is provocative, but not yet compelling, given the choice of statistical analyses and other trial design/conduct 'complexifiers'." Additionally, a biotech journalist commented on AVXL's findings stating "[w]hat sets Anavex apart from all the other biotechs on my radar screen is its habit of shifting the goalposts on clinical trials…Anavex announced "positive" outcomes from studies of its drug called blarcamesine - except the results were derived from efficacy endpoints that were not part of the original study designs."

On January 3, 2024, Anavex Life Sciences Corp. announced that results from its Phase 2/3 EXCELLENCE clinical trial for its candidate ANAVEX®2-73 in pediatric patients with Rett syndrome failed to show statistical significance towards its primary endpoints. Biotech analysts commented that "the negative study outcome was never in doubt…Anavex is a serial dissembler of clinical trial results."

Shares of Anavex Life Sciences Corp. (NASDAQ: AVXL) declined from $19.83 per share in December 2021 to as low as $4.80 per share on February 26, 2024.

The plaintiff alleges on behalf of purchasers of Anavex Life Sciences Corp. (NASDAQ: AVXL) common shares between February 1, 2022 and January 1, 2024, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 1, 2022 and January 1, 2024, the Defendants violated Section 10(b) of the 1934 Act by failing to disclose pertinent information relevant to the Company or, alternatively, providing information about the Company which was misleading or deceptive.

Those who purchased shares of Anavex Life Sciences Corp. (NASDAQ: AVXL) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.