Anavex Life Sciences Corp. (AVXL) Discusses Board Misalignment, Leadership Concerns, and Strategic Changes for Company Turnaround Transcript

Operator

Greetings. Welcome to the PVG Asset Management Corporation Town Hall. [Operator Instructions] The conference is being recorded. I will now turn the conference over to your host, Patrick Adams. Patrick, please go ahead.

Patrick Adams
Chief Executive Officer

Thank you for joining today. We’ve got a pretty detailed presentation that’s going to take us a while to get through all of it, but I think you’ll find the information very helpful. And we are looking for your help, as shareholders, to help support us to turn around Anavex. Anavex, the board nominees, the four nominees currently on the board, own a total of 5,000 shares, three of which of those nominees hold no shares. I think this is a major misalignment with shareholders.

And we’ve seen very recently, and over the past, leadership issues and governance issues to this company. And again, we need your help as investors.

We’ll be going over a number of different things today, talking about what needs to be done, how we’re going to do it, and then how to vote your shares.

So, introduction. PVG began acquiring the shares back in September of 2024. We think that there is great value in the pipeline. We have very unique CNS, and unfortunately, the company has been misguided, not represented well by the board of directors. And it started with the EMA submission for Alzheimer’s. So the Alzheimer’s drug at the EMA was causing the stock to fall 35% in a day. We think the board could have handled this more appropriately and avoided this major issue.

So the