Anavex Life Sciences Corp (OTCMKTS:AVXL) stock has turned out to be a star stock in this year. The company has demonstrated higher efficacy compared to big Pharma companies targeting Alzheimer’s disease. Its lead drug has not only shown efficacy in treating symptoms of AD but has also showed to improve cognitive impact of the disease.
Anavex Life is targeting the huge untapped market of Alzheimer which allows for noteworthy market gain of over $13.3 billion if Anavex’s lead drug Anavex 2-73 gets approved by the FDA. The company recently received research grant from the MJJF for Parkinson’s trials which indicates the confidence the medical community is having on Anavex 2-73.
Anavex is set to release the additional data on study targeting AD before the end of this year. it will be a major catalysts for the company, investors and shareholders. The additional products in the pipeline minimize the investment risk in company, just in case its investigational drug fails in clinical trials.
In July 2015, Anavex Life Sciences Corp (OTCMKTS:AVXL) reported positive phase IIa data for mild to moderate AD patients, and presented the results at the AAIC 2015. The company is specifically targeting the market of Alzheimer’s disease. The people suffering from this progressive brain disorder slowly lose thinking skills, memory skills and the ability to do daily chores.
The market of Alzheimer’s is huge as there are over 5 million people in the U.S. alone. There are many pharmaceutical entities working hard to develop an effective treatment for this fatal disease. As of now, it is an unmet medical need and therefore any Pharma firm that successfully develops a treatment for it could become a leader in the billion dollar market. The Alzheimer’s market was estimated at $4.9 billion in 2013 and is projected to touch $13.3 billion by 2023.
In last trading session, the share price of Anavex surged 0.75% to close the day at $1.35.