The scrutiny centers on two distinct events that rattled investors earlier this year. On March 25, 2026, Anavex abandoned its application for EU marketing authorization of blarcamesine, a treatment for early-stage Alzheimer’s disease. The company withdrew the filing after receiving negative feedback from the European Medicines Agency, which indicated that the application would not receive a positive opinion. Shares subsequently cratered to $2.74.

Following this regulatory setback, internal turmoil emerged on May 6. A special committee of the board terminated CEO Christopher Missling for cause, citing conduct inconsistent with company policy. The announcement triggered a second wave of selling, with the stock price slipping further to $3.12. Investors who held shares during these periods are encouraged to contact Danielle Peyton at Pomerantz LLP to discuss potential class action involvement.