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Annovis Bio ( (ANVS) ) has shared an update.
Annovis Bio announced the advancement of its drug buntanetap, which has shown promising results in improving cognition in patients with early Alzheimer’s disease. The company received FDA clearance to proceed with a pivotal Phase 3 study, with trials planned for early 2025. Additionally, the drug has demonstrated efficacy in Parkinson’s disease, with plans for further development discussions with the FDA. Annovis has secured financial resources through a $50 million ATM facility and has targeted over $200 million for the progress into Phase 3 studies, reflecting strong financial backing for its clinical advancement.
More about Annovis Bio
Annovis Bio, Inc. operates in the biopharmaceutical industry, focusing on developing therapies for neurodegenerative diseases such as Alzheimer’s and Parkinson’s disease. Their primary product, buntanetap, aims to inhibit the production of multiple neurotoxic proteins implicated in these diseases.
YTD Price Performance: -69.73%
Average Trading Volume: 258,048
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $78.09M
See more insights into ANVS stock on TipRanks’ Stock Analysis page.