• Anavex Life Sciences (NASDAQ:AVXL) added ~13% in the premarket on Thursday after the neurology-focused drug developer said its lead asset blarcamesine (ANAVEX 2-73) slowed Alzheimer's disease progression by more than a third in a Phase 2/3 trial.
• Based on 48-week data from the trial, the New York-based biotech said blarcamesine, a once-daily oral therapy targeted at an Alzheimer's-linked protein called SIGMAR1, slowed clinical progression by 36.3% in terms of the primary endpoint.
• The effect was even more pronounced in a subgroup of patients identified as SIGMAR1 wild-type group, with blarcamesine slowing Alzheimer's progression by 49.8% at 48 weeks compared to the placebo group.
• The company remains on track to file regulatory submissions for the drug in Europe this year. Anavex (NASDAQ:AVXL) presented the data readout at a medical conference focused on Alzheimer's Disease in Madrid, Spain.

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