Anavex rises after mid-stage trial data for schizophrenia candidate

Anavex Life Sciences (NASDAQ:AVXL) traded higher in the premarket on Thursday after the New York-based biotech said that a mid-stage trial for its experimental antipsychotic ANAVEX 3-71 reached the primary endpoint in patients with schizophrenia, a psychiatric illness.

Citing topline data, Anavex (NASDAQ:AVXL) announced that ANAVEX 3-71 was found to be safe and well-tolerated in the placebo-controlled Phase 2 clinical study, which enrolled adults with schizophrenia who were undergoing stable antipsychotic medications.

The company added that ANAVEX 3-71 indicated a tolerability profile consistent with prior trials in healthy volunteers, with no serious treatment-emergent adverse events and no severe TEAEs.

Additionally, citing a secondary and exploratory analysis of the trial, the company stated that favorable trends were observed in several outcome measures, including event-related potential biomarkers of schizophrenia.

“The positive safety profile and encouraging biomarker trends support the continued development of ANAVEX 3-71 as a potential treatment for CNS disorders that could address underlying pathophysiology beyond symptomatic control,” CEO Christopher Missling added.