Shares of biotech company Anavex Life Sciences (AVXL.O) have experienced an 18% decline, falling to $3.43 in premarket trading. The company has announced the withdrawal of its application to the European Union for its experimental Alzheimer’s drug, blarcamesine, following feedback from regulators.
According to the company, the European Medicines Agency (EMA) committee indicated that it was unable to provide a positive opinion regarding the drug as an add-on treatment for patients in the early stages of Alzheimer’s disease. In response to these concerns, Anavex has committed to gathering additional data and conducting further analyses to address the issues raised by the regulatory body.
At present, blarcamesine has not received approval in any market and continues to be in the development phase. Alzheimer’s disease represents the most prevalent form of dementia, primarily impacting memory and cognitive functions, particularly among older adults.
Over the course of 2025, shares have seen a significant decrease, approximately 67% from previous valuations.