Annovis Bio, Inc. Receives Continued Listing Standard Notice From the NYSE

Rhea-AI Summary

Annovis Bio (NYSE: ANVS) has received a notice from the NYSE on March 26, 2025, indicating non-compliance with continued listing standards. The company's average global market capitalization over 30 trading days fell below $50 million (approximately $37.9 million as of March 25, 2025), while stockholders' equity was $9.3 million as of December 31, 2024.

The company must submit a compliance plan within 45 days, demonstrating its ability to meet NYSE standards within 18 months. During this period, ANVS stock will continue trading with a '.BC' designation. If the plan is accepted, quarterly reviews will ensure compliance. Failure to meet requirements could result in NYSE delisting.

Positive

• Continued trading allowed on NYSE during 18-month cure period if plan is accepted

Negative

• Market capitalization dropped below NYSE minimum requirement of $50M to $37.9M
• Low stockholders' equity of only $9.3M, well below $50M requirement
• Risk of potential NYSE delisting if compliance plan fails
• Required to add '.BC' designation to stock symbol indicating below-criteria status

News Market Reaction – ANVS

-10.81%

1 alert

-10.81% News Effect

On the day this news was published, ANVS declined 10.81%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

MALVERN, Pa., March 27, 2025 (GLOBE NEWSWIRE) -- Annovis Bio, Inc. (NYSE: ANVS) (“Annovis” or the “Company”), a late-stage clinical drug platform company pioneering transformative therapies for neurodegenerative diseases such as Alzheimer’s disease (AD) and Parkinson’s disease (PD), today announced that on March 26, 2025, it received notice (the “Notice”) from the New York Stock Exchange (NYSE) that it is no longer in compliance with the NYSE continued listing standards set forth in Section 802.01B of the NYSE’s Listed Company Manual due to the fact that the Company’s average global market capitalization over a consecutive 30 trading-day period was less than $50 million while its stockholders’ equity was less than $50 million.

The Notice does not affect the Company’s business operations or its reporting obligations with the Securities and Exchange Commission, and it does not conflict with or cause an event of default under any of the Company’s material debt or other agreements.

As set forth in the Notice, as of March 25, 2025, the 30 trading-day average market capitalization of the Company was approximately $37.9 million and the Company’s last reported stockholders’ equity as of December 31, 2024 was $9.3 million.

The Company has notified the NYSE that it will submit a plan within 45 days of the Notice advising the NYSE of definitive action it has taken, or is taking, to bring it into conformity with Section 802.01B within 18 months of receipt of the Notice. The NYSE will review the Company’s plan and, within 45 days, make a determination as to whether the Company has made a reasonable demonstration of its ability to come into conformity with Section 802.01B within 18 months. If the Company’s plan is not submitted on a timely basis or is not accepted, the NYSE will initiate delisting proceedings. If the NYSE accepts the Company’s plan, the Company’s common stock will continue to be listed and traded on the NYSE during the cure period, subject to the Company’s compliance with the plan and other continued listing standards. The NYSE will review the Company on a quarterly basis to confirm compliance with the plan. If the Company fails to comply with the plan or does not meet continued listing standards at the end of the 18-month cure period, it will be subject to the prompt initiation of NYSE suspension and delisting procedures.

The Notice has no immediate impact on the listing of the Company’s common stock, which will continue to be “ANVS”, subject to the Company’s continued compliance with the plan and other listing requirements of the NYSE. However, the common stock trading symbol will have an added designation of “.BC” to indicate that the status of the common stock is below criteria with the NYSE continued listing standards. The “.BC” indicator will be removed at such time as the Company regains compliance.

Cautionary Note Regarding Forward-Looking Statements
This press release contains, and oral statements made from time to time by our representatives may contain, “forward-looking statements.” Forward-looking statements include statements identified by words such as “could,” “may,” “might,” “will,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on our current expectations and assumptions regarding capital market conditions, our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the Company’s ability to develop a plan to regain compliance with the continued listing criteria of the NYSE; the NYSE’s acceptance of such plan; the Company’s ability to execute such plan and to continue to comply with applicable listing standards within the available cure period; risks arising from the potential suspension of trading of the Company’s common stock on the NYSE; regional, national or global political, economic, business, competitive, market and regulatory conditions, including risks regarding our ability to manage inventory or anticipate consumer demand; changes in consumer confidence and spending; our competitive environment; our failure to open new profitable stores or successfully enter new markets and other factors set forth under “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Any forward-looking statement made in this report speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

About Annovis Bio, Inc.:
Headquartered in Malvern, Pennsylvania, Annovis is dedicated to addressing neurodegeneration in diseases such as AD and PD. The Company’s innovative approach targets multiple neurotoxic proteins, aiming to restore brain function and improve the quality of life for patients. For more information, visit www.annovisbio.com and follow us on LinkedIn, YouTube, and X.

Contact:
Annovis Bio Inc.
101 Lindenwood Drive
Suite 225
Malvern, PA 19355
www.annovisbio.com

Investor Contact:
Alexander Morin, Ph.D.
Director, Strategic Communications
Annovis Bio
ir@annovisbio.com

FAQ

What are the specific NYSE listing requirements that ANVS failed to meet in March 2025?

ANVS failed to maintain both a 30-day average market capitalization and stockholders' equity above $50 million, with actual figures at $37.9M and $9.3M respectively.

How long does Annovis Bio have to regain NYSE compliance after March 2025 notice?

Annovis has 45 days to submit a compliance plan and 18 months to regain compliance with NYSE standards if the plan is accepted.

What happens to ANVS stock trading status during the compliance period?

ANVS will continue trading on NYSE with an added '.BC' designation, indicating below-criteria status, until compliance is regained.

What are the consequences if ANVS fails to meet NYSE compliance requirements?

If ANVS fails to submit an acceptable plan or meet requirements within 18 months, the NYSE will initiate suspension and delisting procedures.