Anavex withdraws EU filing for Alzheimer's drug, shares fall

Shares of biotech firm Anavex Life Sciences AVXL.O fall 18% to $3.43 premarket

Co says it has withdrawn its EU application for experimental Alzheimer's drug, blarcamesine, after regulators said they could not support approval

European Medicines Agency committee has said it was not in a position to give a positive opinion for the drug as an add-on treatment for early-stage patients, company says

Anavex says it will collect more data and run further analyses to address concerns raised by regulators

Drug is not approved anywhere and remains in development, co says

Alzheimer's disease is the most common form of dementia, a condition that affects memory and thinking, mostly in older adults

Shares down ~67% in 2025