Annovis Bio, Inc. - ANVS STOCK NEWS

On April 27, 2023, Annovis Bio (NYSE: ANVS) announced that the USPTO granted a patent for its lead drug candidate, buntanetap, aimed at preventing and treating diseases from heavy metal homeostasis disruption. The patent, titled “Prevention or Treatment of Disease States Due to Metal Dis-homeostasis Via Administration of Posiphen [buntanetap] to Healthy or Sick Humans,” extends protection until early 2040. It focuses on the drug's ability to maintain or restore iron homeostasis, relevant in neurodegenerative and other diseases. Clinical trials have shown that buntanetap can improve cognitive function in Alzheimer's and motor functions in Parkinson's patients. The company emphasizes the strategic importance of expanding its intellectual property portfolio.

Annovis Bio, Inc. (NYSE: ANVS) announced an updated webcast and dial-in information for an R&D meeting scheduled on April 20, 2023, at 4:00 PM ET. The webcast aims to review ongoing clinical programs targeting Alzheimer’s disease and Parkinson’s disease. Buntanetap, the company’s lead candidate, is currently in a Phase 3 study for early PD patients and a Phase 2/3 study for mild to moderate AD patients. In previous clinical trials, Buntanetap demonstrated well-tolerated results and significant improvements in motor function for PD patients as well as cognitive enhancement for AD patients. The press release emphasizes the company's focus on addressing neurodegenerative diseases and its commitment to improving patient outcomes.

Annovis Bio, Inc. (NYSE: ANVS) announced steady progress in recruiting patients for its Phase 2/3 study of buntanetap, targeting moderate Alzheimer's disease. Currently, 27 sites have been activated, screening 38 patients, with 13 randomized to receive either buntanetap or placebo. The trial aims to involve 320 patients, assessing the drug's efficacy, safety, and tolerability over three months at various doses. Past Phase 2 results showed significant cognitive improvement in patients treated with buntanetap. The company will hold an R&D webcast on April 20, 2023, to discuss its clinical programs further.

Annovis Bio, Inc. (NYSE: ANVS) will conduct a live R&D webcast on April 20, 2023, at 4 PM EDT to discuss its clinical programs targeting Alzheimer’s and Parkinson’s diseases.

The webcast will cover buntanetap, its leading therapeutic candidate, which the company believes can modify both symptoms and the disease itself for patients at various stages of Alzheimer's and Parkinson's. Noteworthy is the recent blinded interim analysis of the ongoing Phase 3 study in Parkinson's disease, which will be shared during the session. Additionally, the company will detail plans for FDA development.

Buntanetap has shown promising results in previous studies, meeting primary and secondary endpoints and yielding significant improvements in motor function and cognition.

Annovis Bio, Inc. (NYSE: ANVS), a clinical-stage company focused on neurodegenerative diseases, announced it has raised approximately $8.7 million through a terminated at-the-market program and a private placement involving its Board of Directors and management. On April 4, 2023, the company sold 704,000 shares for around $7.66 million at $10.88 per share, and on April 7, 2023, it sold 84,453 shares at $12.61 per share for about $1.06 million. This funding will support ongoing Phase 3 and Phase 2/3 clinical trials and operations through Q1 2024. As of December 31, 2022, the company had $28 million in cash. Annovis aims to treat Alzheimer's and Parkinson's diseases by targeting multiple neurotoxic proteins.

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.