The past few sessions have rather impressive for Anavex Life Sciences Corp (OTCQX: AVXL). AVXL has ran from .50 to a high of .76 on all time record volume over the past three sessions. On Friday we saw over $7.3M worth of AVXL exchange hands with over 2500 trades executed. Last Wednesdays session trumped those numbers and Thursday was almost just as impressive.
This is no surprise to the Anavex Life Sciences (OTCQX: AVXL) faithful. At the end of March is when we saw some interest come into AVXL and since then it has been on the incline with no signs of slowing down. Besides a flew small blemishes from what looks like potential profit taking or selling from the convertible debt that the company has incurred, the chart looks like a work of Art. Overall since March AVXL has made a 300% move and seems to have no problem holding its gains.
Ironically the move in Anavex Life Sciences (OTCQX: AVXL) has been completely organic and news driven, meaning we haven't seen any form of promotion or touting over the internet. The most recent move last week was sparked by major news on Wednesday regarding the companies Alzheimer Drug. Initial positive cognitive data for ANAVEX 2-73, the Company’s lead investigational oral treatment for Alzheimer’s targeting sigma-1 and muscarinic receptors, which is believed to reduce protein misfolding including reduction of beta amyloid, tau and inflammation.
ANAVEX 2-73 showed in 83 percent (10/12) of patients positive cognitive effects during PART A of the study, which consists of a 36 day on-off-on not-yet-optimized dosing regimen to assess bioavailability. The Street obviously went wild for this news and tried to gobble up as much AVXL as they could awaiting further news from the company.
“This is the first time the investigational drug ANAVEX 2-73 has been administered to Alzheimer’s patients. In addition to the positive EEG/ERP P300 biomarker signal, the feedback we’ve had so far is that patients and care providers have noticed both cognitive and functional improvement, increased alertness, improvement in activities of daily living, greater organization and a requirement for less prompting,” said study’s principal investigator Dr. Stephen Macfarlane, FRANZCP, Associate Professor and Director of Aged Psychiatry at The Alfred Hospital.
Although Anavex Life Sciences (OTCQX: AVXL) has zero revenues and is bleeding money at a rate of roughly $2.5 Million every six months, the company has over $8 Million sitting in cash to continue operations. AVXL certainly has the ability to raise more cash at the rate they are going. I find it hard to believe that nobody would want a piece of this one at a big discount with the current developments and consistent liquidity.
This is a disease that is the 6th leading cause of death in the United States. Over 5 million cases have been reported. It is believed that as many as 13.5 million people in the U.S. could have it by 2050. All the major Pharmaceutical Companies have tried to develop a cure. Here is a horrific statistic about them; 99% of clinical trials regarding Alzheimer's drugs have failed. That's a gigantic number. It is hard to be optimistic but it only takes one time to hit the jackpot. Could AVXL, who is microscopic compared to the other companies in the race eventually be the one to develop the drug that will take on this devastating disease?
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