Anavex Life Sciences Corp. reported its financial results for the second fiscal quarter ended March 31, 2025. The company recorded a net loss of $11.2 million, or $0.13 per share, for the quarter, compared to a net loss of $10.5 million, or $0.13 per share, in the prior year quarter.
For the six months ended March 31, 2025, total operating expenses increased to $26.1 million from $24.0 million in the comparable period of 2024. This increase was primarily driven by expenditures on the ANAVEX®3-71 schizophrenia trial, which rose to $4.282 million from $1.453 million, and manufacturing activities for ANAVEX®2-73, which totaled $6.752 million.
As of March 31, 2025, the company held $115.8 million in cash and cash equivalents, a decrease from $132.2 million at September 30, 2024. Management anticipates that the current cash position is sufficient to meet working capital requirements for approximately four years based on the current burn rate, providing financial stability for ongoing operations and clinical programs.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.