Anavex reports net loss for fiscal year 2015 $12.1M

Anavex had cash and cash equivalents of $15.3 million as of September 30, 2015, compared with $7.3 million as at September 30, 2014.
During fiscal year 2015 Anavex used $4.2 million in cash to fund operations.

The net loss for fiscal year 2015 was $12.1 million or $0.65 per share compared to a net loss of $10.0 million or $1.02 for the 2014 fiscal year.
Operating expenses for the 12 months ended September 30, 2015 were $7.1 million, compared to $3.0 million for the comparable period in fiscal year 2014.  The increase was primarily attributable to the Phase 2a clinical trial and expanding the team.

“Anavex had a remarkable year in 2015 with the achievement of several clinical and corporate milestones, including significant advancement of ANAVEX 2-73 for the treatment Alzheimer’s disease,” said Christopher U. Missling, PhD, President and Chief Executive Officer of Anavex.

“We plan to continue to operate in a fiscally responsible manner and we look forward to providing additional updates in 2016 which include the Company’s plan to advance ANAVEX 2-73 for the treatment of Alzheimer’s disease in a larger double-blinded, randomized, placebo-controlled Phase 2/3 trial as well as initiating a human clinical trial with ANAVEX 2-73 in an additional indication.”