08:29 AM EDT, 03/25/2026 (MT Newswires) -- Anavex Life Sciences ( AVXL ) said Wednesday it has withdrawn its application for marketing authorization of its experimental drug, blarcamesine, in the European Union as an add-on treatment for early Alzheimer's disease in adults.

The company said the decision follows feedback from the European Medicines Agency's Committee for Medicinal Products for Human Use indicating it would not be in a position to issue a positive opinion at this time.

Anavex said it will consider the health agency's feedback and focus on gathering additional data and conducting further analyses to address the points raised.

The company's shares were down about 27% in Wednesday premarket activity.