What changed in this filing

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Item 1. Legal Proceedings

2025-08-12 compared with 2025-05-13 · 42 added, 45 removed, 8 unchanged (92% of the section changed)

3 unchanged sentences

The Company is currently subject to the following lawsuits:

2024, a shareholder class action complaint was filed in the United States District Court for the Southern District of New York (the “Initial

The complaint was captioned Blum v.

Anavex Life Sciences, Corp.

et al., case number 1:24-cv-01910, and it named the Company

and Christopher Missling as Defendants.

The complaint alleged violations of the Securities and Exchange Act of 1934 associated with disclosures

and statements made with respect to certain clinical trials for ANAVEX ® 2-73 related to Rett syndrome (the “March

2024 Complaint”).

At a hearing on or about June 13, 2024, the Court named another purported Company shareholder, Quintessa Huey,

as lead plaintiff with respect to the March 2024 Complaint.

An Amended Complaint was filed by the appointed lead plaintiff on July 12,

2024, which asserts allegations related to purported violations of Section 10(b) of the Securities Exchange Act tied to disclosures associated

with the same clinical trials related to Rett Syndrome, and which names the Company and Christopher Missling as defendants.

Complaint seeks unspecified damages, as well as costs, including counsel and expert witness fees, on behalf of a class of investors who

purchased stock of the Company on the NASDAQ during the period February 1, 2022 through January 1, 2024.

The defendants filed a motion

to dismiss the complaint.

The motion to dismiss is fully-briefed and awaiting a decision by the Court.

2024, a shareholder class action complaint was filed in the United States District Court for the Southern District of New York and it

named the Company and an officer of the Company as Defendants.

The complaint was amended on July 12, 2024 (the “Initial Action”).

The complaint alleged violations of the Securities and Exchange Act of 1934 associated with disclosures and statements made with respect

to certain clinical trials for ANAVEX ® 2-73 related to Rett syndrome.

This lawsuit was dismissed by the United States District

Court for the Southern District of New York on June 18, 2025.

The plaintiff filed a notice of appeal on July 17, 2025.

A briefing schedule

has not yet been entered.

No amount has been recorded in these condensed consolidated interim financial statements for any loss contingencies

associated with this lawsuit as the Company believes that it is not probable that any loss will occur.

On May 8, 2024,

a similar complaint was filed in the same court by Kenneth Downing (case no.

1:2024-cv-03529), a purported shareholder of the Company,

against the same defendants as the March 2024 Complaint.

The defendants filed a motion to dismiss the complaint.

Plaintiff Downing voluntarily

dismissed his complaint subsequent to the filing of the motion to dismiss.

May 13, 2024, a derivative lawsuit was filed against the Company (as nominal defendant), Christopher Missling, and members of the Company’s

Board of Directors in the U.S.

District Court for the District of Nevada by another purported shareholder named Denise Deangelis.

complaint asserts various common law claims (including breach of fiduciary duty) and violation of Section 14(a) of the Securities Exchange

Act regarding the same or similar allegations at issue in the two purported class action lawsuits related to disclosures and statements

made about certain clinical trials related to Rett Syndrome.

On January 22, 2025, pursuant to a stipulation of the parties, the Court

entered an order staying this purported derivative lawsuit until the motion to dismiss filed by defendants in the above-referenced class

action (Quintessa Huey) lawsuit is decided by the U.S.

District Court for the Southern District of New York.

a similar complaint was filed in the same court by Kenneth Downing, a purported shareholder of the Company, against the same defendants.

The Company believed that this lawsuit was without merit and filed a motion to dismiss the complaint.

Plaintiff Downing voluntarily dismissed

this complaint subsequent to the filing of the motion to dismiss.

May 13, 2024, a derivative lawsuit was filed against the Company (as nominal defendant), an officer of the Company, and members of the

Company’s Board of Directors in the U.S.

District Court for the District of Nevada by another purported shareholder.

The complaint

asserts various common law claims (including breach of fiduciary duty) and violation of Section 14(a)of the Securities Exchange Act regarding

the same or similar allegations at issue in the purported class action lawsuit related to disclosures and statements made about certain

clinical trials related to Rett Syndrome.

On January 22, 2025, pursuant to a stipulation of the parties, the Court entered an order staying

this purported derivative lawsuit until the motion to dismiss filed by defendants in the Initial Action is decided by the U.S.

Court for the Southern District of New York.

No amount has been recorded in these condensed consolidated interim financial statements

for any loss contingencies associated with this lawsuit as the Company believes that it is not probable that any loss will occur.

14, 2025, another derivative lawsuit asserting state law breach of fiduciary duty and unjust enrichment claims based upon similar allegations

was filed against the Company (as nominal defendant), Christopher Missling, and members of the Company’s Board of Directors in the

Supreme Court for the State of New York, County of New York, by another purported shareholder named Evan Levitan.

The parties to that

action also have stipulated to a stay of the proceeding until the Court rules on the motion to dismiss in the putative class action lawsuit

pending in the U.S.

was filed against the Company (as nominal defendant), an officer of the Company, and members of the Company’s Board of Directors

in the Supreme Court for the State of New York, County of New York, by another purported shareholder.

The parties to that action also

have also agreed to a stipulation that would stay the proceeding until the Court rules on the motion to dismiss in the putative class

action lawsuit pending in the U.S.

District Court for the Southern District of New York.

The New York state court has not yet entered an order pursuant

to the stipulation of the parties.

know of no other material pending legal or governmental proceedings, other than ordinary routine litigation incidental to our business,

to which our Company or our subsidiaries are a party or of which any of their property is subject.

There are no other proceedings in which

any of our directors, officers or affiliates, or any registered or beneficial stockholder holding more than 5% of our shares, or any associate

The New York state court has not yet entered

an order pursuant to the stipulation of the parties.

No amount has been recorded in these condensed consolidated interim financial statements

for any loss contingencies associated with this lawsuit as the Company believes that it is not probable that any loss will occur.

We know of no

other material pending legal or governmental proceedings, other than ordinary routine litigation incidental to our business, to which

our Company or our subsidiaries are a party or of which any of their property is subject.

There are no other proceedings in which any

of our directors, officers or affiliates, or any registered or beneficial stockholder holding more than 5% of our shares, or any associate

of such persons, is an adverse party or has a material interest adverse to our or our subsidiaries’ interest.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Legal Proceedings