Anavex Life Sciences (AVXL) Status update summary

Corporate governance and compliance

• Regained Nasdaq compliance after filing delayed 10-Qs, following leadership transition and special committee review.

• Identified material weakness in disclosure controls; remediation plan in place and overseen by audit committee.

• Now current with SEC reporting obligations and committed to regular quarterly updates.

Strategic focus and program prioritization

• Prioritizing development of blarcamesine (ANAVEX 2-73) for Alzheimer's, Rett syndrome, and Fragile X syndrome.

• Paused development for schizophrenia and Parkinson's to focus resources on core indications.

• Strong cash balance and no long-term debt support disciplined capital allocation.

Regulatory and clinical development

• Engaging with FDA to align on phase III study design for Alzheimer's; incorporating recent EMA feedback.

• Preparing to initiate phase III study for Rett syndrome in adults, with plans to include pediatric participants pending FDA discussion.

• IND for Fragile X syndrome to be submitted soon, supported by orphan drug designation.