Anavex Life Sciences Corp. (NASDAQ:AVXL) announced a collaboration with Ariana Pharma (Cambridge, MA and Paris, France) to use Ariana’s proprietary KEM® (Knowledge, Extraction, Management) patient stratification technology to potentially accelerate ANAVEX 2-73’s Phase 2/3 Alzheimer’s clinical development timelines. KEM® is a comprehensive and FDA-tested clinical data analysis system that enables full exploitation of complex datasets including of smaller numbers of patients.
“We are very impressed with the rational and efficient clinical trial path Anavex has embarked upon by adopting population pharmacokinetics (PK) and adaptive trial design in its current ANAVEX 2-73 Phase 2a study in Alzheimer’s disease,” said Mohammad Afshar, CEO of Ariana Pharma. “Ariana has the expertise to fully support Anavex’s precision medicine approach to develop more effective treatments for devastating diseases including Alzheimer’s, Parkinson’s and Rett syndrome.”
Ariana specializes in clinical patient stratification using KEM®, a proprietary decision support technology for rapid and systematic analysis of multi-parametric/multi-objective data. Ariana’s technology uncovers signals and complex relationships overlooked by conventional statistical analysis that minimizes the risk of data over-fitting. This approach increases clinical trial success and reduces drug development risks by systematically identifying patient subgroups most benefiting from a drug and endpoints that best capture its effect. Ariana is one of the first companies to implement the new FDA draft enrichment guidelines for patient stratification and trial enrichment. Ariana’s expertise spans multiple medical indications and therapeutic areas, including immunological and neurological diseases and cancer.
Anavex’s 32-patient Alzheimer’s study utilizing KEM® will enable systematic analysis of more data on each patient in the disease group, on par with similar studies of significantly larger size, while providing greater cost and time efficiency.
“The ongoing Phase 2a Alzheimer’s clinical trial was specifically designed to learn as much as possible about ANAVEX 2-73 in order to optimize trial parameters for future pivotal trials and potentially reduce the risk of failure in a later, larger Phase 2/3 study and in a planned Parkinson’s Phase 2 study. We believe that the collaboration with Ariana Pharma will potentially accelerate the development process,” said Christopher U. Missling, PhD, President and Chief Executive Officer of Anavex. (Original Source)
Shares of Anavex are up nearly 6% to $3.90 in pre-market trading. The stock’s 50-day moving average is $3.08 and its 200-day moving average is $4.54.
On the ratings front, AVXL stock has been the subject of a number of recent research reports. In a report issued on September 29, FBR analyst Christopher James reiterated a Buy rating on AVXL, with a price target of $10, which represents a potential upside of 172.5% from where the stock is currently trading. Separately, on July 27, Maxim Group’s Jason Kolbert reiterated a Buy rating on the stock and has a price target of $15.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Christopher James and Jason Kolbert have a total average return of -11.0% and -15.9% respectively. James has a success rate of 38% and is ranked #4037 out of 4193 analysts, while Kolbert has a success rate of 28% and is ranked #4088.
Anavex Life Sciences Corp. is a biopharmaceutical company. It is engaged in the discovery and development of new drugs for the treatment of neurological diseases and cancer, utilizing its proprietary drug discovery sigmaceptor platform. The company’s portfolio comprises novel, wholly owned sigma receptor agonists and antagonists.