Letter to Readers

To Spirit of the Coast Analytics Supporters

Today was a big blow for Anavex investors and millions of patients. I would like to say I’m the most disappointed with what transpired today, but I’d never be able to prove that and many of you have so much at stake. A decade of investment, thousands of hours of painstaking research, millions of years for current patients…

Spirit of the Coast began as a purely scientific publication focused on data and clinical analysis. As SOTC interest grew, so did the appetite of its readers. We branched out to making comment on Anavex’s ability to garner approval, commercialization, partnership prospects - sometimes going as far as to assess timelines. This analysis was only ever as good as the source material and our ability to observe the company, advocacy groups, strategic trends, and regulators. We are steadfast in our assessment that Anavex will be approved for Alzheimer’s disease. We were wrong about when. 

To be entirely transparent I personally have called the company less than 15 times in the last 10 years. I do not puppet for Dr. Missling or Anavex. We have no formal association and I have never been paid by anyone. They have never asked me to write anything on their behalf. 

Today was my latest call to the company, and I spoke to Dr. Missling. It is highly unlikely Dr. Missling ceases to be Anavex’s CEO. I lambasted him to a point on his miscalculations in regards to what has transpired - and what is transpiring. Though I opined for one, it is unlikely we receive a conference call dedicated to this withdrawal. I would expect a press release tomorrow or Friday - though I can’t guarantee it. 

I have additional questions for Dr. Missling which I plan to ask this week if he permits another call. More importantly, I want to ensure that going forward, Anavex has a clear and intellectual strategic vision, and well-designed follow-up Alzheimer’s trial (which I’d expect to be announced soon). Though I doubt they would be agreeable, I wouldn't mind being an unpaid consultant in this regard, even if an NDA was required and I had to put aside SOTC. There is too much at stake. At the least I hope that they will hear my additional feedback in the coming days. 

To those that I’ve let down - I’m sorry. While the data continues to be the best in the community (in my humblest opinion) I will continue to hold. Understandably, not everyone has time left available to them - some have even passed on during this pursuit - to you I am the most sorry. While I cannot claim the role as ‘happy investor’ I will continue this pursuit in the strong belief the drug will see commercialization and aid tens of millions. Good luck on your next steps. 

Yours,

Jesse Silveira

Spirit of the Coast Analytics