The Gross Law Firm Announces the Filing of a Securities Class Action on Behalf of Anavex Life Sciences Corporation(AVXL) Shareholders

NEW YORK, May 7, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Anavex Life Sciences Corporation (NASDAQ: AVXL).

Shareholders who purchased shares of AVXL during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.

CONTACT US HERE:

https://securitiesclasslaw.com/securities/anavex-life-sciences-loss-submission-form/?id=78288&from=4

CLASS PERIOD: February 1, 2022 to January 1, 2024

ALLEGATIONS: The complaint alleges that on December 2, 2022, AVXL 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." Following this news, AVXL's stock price fell by $2.47 per share, or approximately 20% to close at $9.58. Further on January 3, 2024, AVXL 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." Following this news, AVXL's stock price fell by $3.26 per share, or approximately 35%.

DEADLINE: May 13, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/anavex-life-sciences-loss-submission-form/?id=78288&from=4

NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of AVXL during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is May 13, 2024. There is no cost or obligation to you to participate in this case.

WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (646) 453-8903

SOURCE The Gross Law Firm