In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Annovis Bio, with a price target of $8.00.
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Jason McCarthy has given his Buy rating due to a combination of factors including Annovis Bio’s ongoing pivotal Phase 3 study for their Alzheimer’s drug, buntanetap. The study, which began in January, is progressing with patient enrollment and aims to evaluate both symptomatic and disease-modifying effects over a period of 6 to 18 months. The well-structured study is based on previous outcomes and regulatory interactions, providing a strong foundation for potential success.
Additionally, the completion of the patent transfer to the crystalline form of buntanetap is a significant milestone. This transfer extends the intellectual property protection to 2046 and enhances the drug’s stability without compromising its pharmacokinetic properties. These strategic advancements in both clinical development and intellectual property position Annovis Bio favorably in the Alzheimer’s treatment landscape, supporting the Buy rating.