Anavex Life Sciences PT raised by brokerage on drug's success in Parkinson's trial

Anavex Life Sciences

31/03/2023 14:37

** Shares of Anavex Life Sciences Corp  AVXL.O  up 1.6% at
$8.50
    ** H.C. Wainwright raises PT on company's shares to $54 from
$50 after AVXL's lead drug showed clinical benefit in
Parkinson's disease trial
    ** AXVL said on Thursday, its drug ANAVEX 2-73 achieved both
primary and secondary mid-stage extension study goals
    ** Brokerage raises drug's approval probability to 60% vs
previous 50% view
    ** H.C. Wainwright expects favorable mid-to-late-stage
treatment trial data for drug in separate neurological disorder,
Rett syndrome; data expected in H2'23
    ** All eyes will be on mid-to-late-stage study data given
the potential for non-dilutive funding on sale of potential
priority review voucher company would be eligible to receive
upon FDA approval - brokerage
    ** Company's shares down 10.2% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com))