Anavex Life Sciences Corp. (AVXL) witnessed a significant surge of 9.85% in its stock price during the pre-market trading session on Monday. This rally was fueled by positive news regarding the company's Alzheimer's disease drug candidate, blarcamesine.
The European Medicines Agency (EMA) has accepted for review Anavex's Marketing Authorization Application (MAA) for blarcamesine, an investigational oral treatment for Alzheimer's disease. This development brings the company a step closer to potentially offering a novel treatment option for Alzheimer's patients in Europe.
Blarcamesine has demonstrated promising results in clinical trials, including the ability to slow cognitive decline in early-stage Alzheimer's patients while exhibiting a favorable safety profile. The drug aims to target the underlying pathology of Alzheimer's disease by enhancing autophagy, a cellular process that helps maintain homeostasis.
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