In the November press release the company touted strong improvement over baseline for every subject. What do you make of this result and what does it say about 2-73?

In the press release the company said there was a 12 day washout period for patients.  If this occurred after the baseline reading, does that increase the value of the improvement seen over 5 weeks?

• Meaning if the patients were off other Alzheimer therapies and still improved does this indicate 2-73 may be better?
• Do we actually know from the company or press release when the baseline was taken? Before or after the washout period?
• When do you think the baseline should have been taken?

There have been recent news stories that say patients on 2-73 have regained the ability to paint, play the piano, and showed other signs of reversal of memory loss. Can you discuss these findings and their clinical relevance? Is there anything in the data that supports these findings, or are these mostly anecdotal benefits?

• What potential explanations for this anecdotal evidence would also make sense to you?
• Have you ever seen any sort of experience by a patient under your care?

The company says this drug works by: “targeting sigma-1 and muscarinic receptors, which are believed to reduce protein misfolding including reduction of beta amyloid, tau protein and inflammation”

• Does this science have a lot of validation? Beta Amyloid vs. Tau is a hot debate in the Alzhemier’s scientific community. Does this drug have a potential to impact both potential causes?
  

Overall how would you characterize the development of 2-73 for an indication as large as Alzheimer’s? It seems like many other established pharma companies have significantly larger programs. Is that size a requirement in your mind to be considered serious or do smaller companies have a chance to succeed with programs like this one?

Occasionally companies will run open label and single arm studies in oncology. Many experts caution against trials of that design due to many limitations.  Are you aware of any other promising Alzheimer’s programs that have used a similar design to Anavex? What is your opinion of its use in this situation?