Anavex Stock Is Moving Higher Monday: What's Going On?

Anavex Life Sciences Corp AVXL shares are trading higher Monday. The clinical-stage biopharmaceutical company announced that it initiated a regulatory submission with the European Medicines Agency (EMA).

What Happened: Anavex representatives met with team members of the EMA to discuss Anavex's blarcamesine (ANAVEX2-73) Alzheimer's disease clinical program results.

Blarcamesine demonstrated reduction of pathological aggregation of amyloid in early Alzheimer's disease and reduction of brain volume loss in addition to significant improvement in dementia symptoms.

Based on the discussions, Anavex initiated the submission process for a Marketing Authorization application, which would give the company direct access to the market for oral blarcamesine for the treatment of Alzheimer's disease.

"We continue to work towards fulfilling our purpose of improving patients' lives with oral blarcamesine not requiring any complex additional procedures for the treatment of people with Alzheimer's disease," said David Goldberger, senior vice president regulatory affairs at Anavex.

Anavex said that data from its Phase 2b/3 trials of blarcamesine will be published in an upcoming peer-reviewed journal.

See Also: Adobe's $20B Figma Acquisition Under Scrutiny: EU Raises Antitrust Concerns

AVXL Price Action: Anavex shares were up 11.6% at $7 at the time of publication, according to Benzinga Pro.

Photo: 3844328 from Pixabay.