Anavex Life Sciences, a clinical-stage biopharmaceutical company developing differentiated therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases including Alzheimer’s disease, other central nervous system (CNS) diseases, pain and various types of cancer, todayhas reported financial results for the fiscal quarter ended March 31, 2017.
The company has reported net loss of $1.5 million for the first quarter of 2017 which is increase comparing to net loss of $2.0 million for the same period last year.
“We are continuing 2017 with a stronger balance sheet than the previous quarter and a strengthened corporate team,” said Christopher U. Missling, PhD, President and Chief Executive Officer of Anavex. “We are on track to initiate placebo-controlled efficacy and safety trials this year in Alzheimer’s and Parkinson’s disease as well as Rett syndrome, for which ANAVEX 2-73 was granted Orphan Drug Designation (ODD) by the U.S. Food and Drug Administration (FDA).”