Anavex Life Sciences is a clinical-stage biopharmaceutical company developing oral, once-daily small molecule drugs for CNS diseases, primarily Alzheimer's disease. Anavex has no approved products and no revenue. Its lead drug candidate, blarcamesine (ANAVEX2-73), activates the sigma-1 receptor (SIGMAR1) and targets cellular homeostasis upstream of amyloid plaques and tau tangles — the hallmarks of Alzheimer's pathology. Anavex's Phase 2b/3 trial in early Alzheimer's met its co-primary endpoints, showing statistically significant slowing of cognitive decline vs. placebo. Anavex submitted a Marketing Authorisation Application to the EMA in late 2024, which was accepted for review, though the CHMP issued a negative trend vote in November 2025; Anavex intends to request a re-examination. Anavex also uses a precision medicine approach, identifying genetic biomarkers that predict stronger response to blarcamesine. Its second clinical compound, ANAVEX3-71, targets schizophrenia via a dual SIGMAR1 and M1 muscarinic receptor mechanism. Anavex funds operations entirely from cash reserves, spending almost entirely on R&D. If blarcamesine is approved, Anavex plans to either partner with a larger pharma company or build its own commercial infrastructure in Europe. Blarcamesine's oral dosing and lack of ARIA side effects differentiate it from the approved IV-administered anti-amyloid antibodies, Leqembi and Kisunla.