It has been a long time, almost five years, since we last discussed Vancouver stock promoter Harvey Lalach‘s Alzheimer’s reverse-merger stinker, Anavex, but affectionately known at BuyersStrike! HQ as scAmavex Labs (AVXL).
Harvey and CEO Christopher U Missling sure know how to make hires, including a superstar CFO, and a Hall of Fame IR Staffer. They also know how to excite retail investors, teasing them with provocative press releases, like this one from last night, touting “approval” for “special access” to their Alzheimer’s snake oil:
But what does this actually mean? Has Anavex’s drug actually been approved for Alzheimer’s Diease? Can desperate patients and their families finally queue for a cure? OF COURSE NOT! Read past the headline.
” today announced that patients from the ANAVEX®2-73-003 phase 2a Alzheimer’s disease trial will continue treatment with ANAVEX®2-73 (blarcamesine) via the Australian Government Department of Health – Therapeutic Goods Administration (TGA) compassionate use Special Access Scheme”
This “approval” only means that the patients in the 2-73-003 study can (not will) continue taking the drug after the end of the study. Surely that means the drug works, though? That “teh science is gud”? That hundreds of patients will continue to get their “life saving” drug?
No, no and no.
For you see, dear readers, the 2-73-003 study (details here) is nothing more than a farce. A 32 patient, open-label, non-randomized, single arm, collection of nothing.
For comparison, here is what a real trial P2 in Alzheimer’s, by Toyama, looks like:
Randomized! 482 patients! Blinded! Oh my! How can you tell a biotech from a biocon? Simple, look at the study designs.
As for the “Approval”, all it means is that a mere 32 patients, all of whom live in Melbourne, can, if they want to, continue to receive a medication that they were told might help them. It won’t, but the press releases will sure help management and their Vancouver pals unload more stock onto clueless retail suckers.
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