CORRECTED-Anavex Life Sciences Q2 net loss narrows on lower R&D costs

Corrects period in Key Details table to Q2 from Q3

Overview

• US biopharma firm's preliminary fiscal Q2 net loss narrowed yr/yr

• Lower RD expenses drove reduced operating loss after clinical trial completion

• Preliminary results show cash balance expected to fund operations into mid-to-late fiscal 2028

Outlook

• Anavex expects cash balance to fund operations into mid-to-late fiscal 2028

• Company anticipates initiation of ADME study for early Alzheimer's in Q3 2026

• Anavex plans to engage FDA on clinical strategy for early Alzheimer's and Fragile X

Result Drivers

• LOWER RD SPENDING - Co said reduced research and development expenses were mainly due to completion of ANAVEX 3-71 schizophrenia trial and decreased clinical manufacturing activities

• REDUCED ADMINISTRATIVE COSTS - Co attributed lower general and administrative expenses to a decrease in legal and professional fees

Company press release: ID:nGNX3Y3Ksf

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• The average consensus recommendation for the biotechnology medical research peer group is "buy"

• Wall Street's median 12-month price target for Anavex Life Sciences Corp is $20.00, about 703.2% above its July 29 closing price of $2.49

Reuters Recommended Reads

• July 30 - UK's Bicycle Therapeutics Q2 net loss narrows on reduced clinical program expenses

• July 27 - OPKO Health Q2 loss narrows on higher IP revenue, lower costs

• July 29 - Dyne Therapeutics reports larger-than-expected Q2 net loss per share

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)