After recording a 52-week high on the back of promising mid-stage data for its Parkinson's disease candidate, Anavex Life Sciences (NASDAQ:AVXL) dropped sharply on June 29, posting its highest one-day loss since early November.
This drop
Anavex: A Catalyst-Rich Year
Summary
- Anavex Life Sciences Corporation conducts clinical trials for its small Anavex 2-73 (blarcamesine) and Anavex 3-71 (AF710B) molecules.
- The biotech has a rich development pipeline aimed at neurodegenerative and neuro-developmental disorders, such as Parkinson's, Alzheimer's, and Rett diseases.
- It has been a catalyst-rich year with a lot of news pertaining to the biotech's own clinical trials, as well as peer Biogen's aducanumab obtaining FDA approval.
- A comparison with another peer shows that the company has a more disciplined cash generation and use strategy and is still undervalued despite the recent stock upside.
- Looking forward, there are catalysts to propel the share price to the $28 level, all amid a volatile path.
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