Annovis Bio Inc Stock Price, News & Analysis

On April 3, 2023, Annovis Bio, Inc. (NYSE: ANVS) reported its fourth quarter and full year financial results for 2022. The company announced a net loss of $7.7 million for Q4 2022, up from $5.9 million in Q4 2021, and a total annual loss of $25.3 million compared to $14.5 million in 2021. Significant developments included the approval of 49 additional European clinical trial sites for its Phase 3 trial of buntanetap in early Parkinson's disease, ongoing recruitment across 53 sites in the U.S., and a provisional patent filing extending its platform to neuropsychiatric indications. Annovis aims for continued progress in clinical trials throughout 2023.

Annovis Bio (NYSE: ANVS) announced two presentations at the AD/PD™ 2023 International Conference on Alzheimer's and Parkinson's Disease from March 28 to April 1, 2023, in Gothenburg, Sweden. The first presentation will detail the development plan for its lead candidate, buntanetap, targeting Alzheimer's and Parkinson's diseases, while the second presentation will illustrate how mouse studies predict human outcomes. Dr. Maria Maccecchini, CEO, highlighted the significance of buntanetap's ability to inhibit neurotoxic proteins. The company is progressing through Phase 2/3 studies for Alzheimer’s and Parkinson’s disease and has reported promising results in prior trials.

TheracosBio announced the appointments of former Congressman Jim Greenwood to its Board of Directors and Jeff McGroarty, MBA, as Chief Financial Officer. Both are expected to enhance the company's commercial strategy for Brenzavvy™ (bexagliflozin), an FDA-approved treatment for type 2 diabetes. Greenwood, with a background in life sciences policy, aims to expand treatment options for diabetes patients. McGroarty, former CFO of Annovis Bio (NYSE: ANVS), brings extensive financial expertise and will develop the commercialization strategy for Brenzavvy. The company aims to improve access to therapeutics for significant societal health issues.

Annovis Bio, Inc. (NYSE: ANVS) announced the approval for 48 additional clinical trial sites across five European Union countries for its ongoing Phase 3 study of buntanetap aimed at treating Parkinson's disease. The new sites will enhance patient recruitment for the study, which currently has 50 sites open in the United States. The Company expects to conduct an interim analysis in Q2 2023, based on the enrollment of patients who have completed two months of therapy. Preliminary Phase 2a data showed promising results, with statistically significant improvements observed in motor function and cognition without significant adverse events.

Annovis Bio, Inc. (NYSE: ANVS) has filed a patent application expanding its drug platform from neurodegenerative to neuropsychiatric indications, specifically focusing on mental illnesses like autism, ADHD, bipolar disorder, major depressive disorder, and schizophrenia. The patent proposes treatment methods using buntanetap and its analogs, which have shown potential in Phase 2a trials for cognitive improvements in Alzheimer's and Parkinson's patients. The company aims to leverage its existing patents in neurodegenerative diseases to broaden its intellectual property portfolio, enhancing its market position and therapeutic reach.

Annovis Bio (NYSE: ANVS) announced strong enrollment in its Phase 3 trial of buntanetap for Parkinson's disease, with an interim analysis expected in Q2 2023. This trial aims to evaluate the safety and efficacy of buntanetap in early-stage patients, featuring a randomized, double-blind, placebo-controlled design. The study enrolls patients receiving either 10mg or 20mg of buntanetap or a placebo for six months. Early Phase 2a data indicated significant improvements in motor function with no adverse events. The trial is designed to confirm optimal patient enrollment figures, potentially adjusting the target number based on efficacy observations.

On January 6, 2023, Annovis Bio, Inc. (NYSE: ANVS) announced the appointment of Dr. Michael Christie as Vice President of Process Chemistry and David Prohaska as Vice President of Toxicology and Pharmacology. These additions aim to strengthen the company's capabilities in clinical trials and regulatory navigation, especially for their late-stage trials in Alzheimer’s and Parkinson’s diseases. Dr. Christie brings over 40 years of pharma experience, while Mr. Prohaska offers 25 years in preclinical drug development. These leadership changes are expected to enhance Annovis's large-scale manufacturing and product development efforts.

Annovis Bio, Inc. (NYSE: ANVS) announced its third quarter 2022 financial results, highlighting progress in clinical trials for buntanetap in Parkinson's and Alzheimer's diseases. The FDA authorized a Phase 3 trial for early Parkinson's patients and a Phase 2/3 trial for moderate Alzheimer's patients. Annovis reported a net loss of $7.6 million for the quarter, an increase from $2.9 million in Q3 2021. Cash reserves stand at $32 million as of September 30, 2022. The company also published three new patents and appointed a new CFO, which strengthens its intellectual property portfolio and financial leadership.

Annovis Bio (NYSE: ANVS) announced its participation in the ThinkEquity 2022 Investor Conference scheduled for October 26, 2022, in New York City. The presentation will take place from 9:00 am ET to 9:30 am ET at The Mandarin Oriental Hotel. Investors can access the webcast [here](https://wsw.com/webcast/tep23/anvs/1687376). Annovis Bio is advancing its drug candidate, Buntanetap, which targets neurodegenerative diseases such as Alzheimer's and Parkinson's. The company is conducting Phase 3 studies for early Parkinson's and Phase 2/3 for Alzheimer's patients.