Earnings ·
Anavex Life Sciences Corp. reported financial results for the third fiscal quarter ended June 30, 2026, posting a net…
AVXLAnavex Life Sciences Corp.
Anavex Life Sciences Corp. reported financial results for the third fiscal quarter ended June 30, 2026, posting a net income of $7.8 million, or $0.08 per share, compared to a net loss of $13.2 million in the prior year period. The turnaround was driven by reversals of stock-based compensation expense totaling $17.4 million associated with employee terminations, primarily the former CEO. Cash and cash equivalents rose to $118.3 million from $102.6 million at fiscal year-end September 30, 2025, providing a runway into mid-to-late fiscal 2028. Clinically, the company submitted all Alzheimer’s disease trial data to its new IND and plans to discuss Phase 3 protocol design with the FDA. It also submitted an FDA meeting request for Rett syndrome pediatric inclusion and expects to file an IND for Fragile X syndrome in September. Anavex Life Sciences Corp. is a clinical-stage biopharmaceutical company developing treatments for central nervous system diseases.