Annovis Bio (NYSE: ANVS), a Phase 3 clinical-stage biotechnology company developing buntanetap for neurodegenerative diseases including Alzheimer’s disease and Parkinson’s disease, announced the closing of an underwritten public offering raising approximately $10 million in gross proceeds. Combined with existing cash and a recent $1.5 million investment from Board Chair Michael Hoffman, the financing is expected to extend the company’s cash runway through Q2 2027, supporting operations through a key six-month symptomatic data readout from its Phase 3 Alzheimer’s trial and the anticipated New Drug Application submission to the U.S. Food and Drug Administration, while advancing ongoing clinical studies and regulatory preparations.
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About Annovis
Headquartered in Malvern, Pennsylvania, Annovis Bio, Inc. (NYSE: ANVS) is a Phase 3 clinical-stage biotechnology company developing treatments for neurodegenerative diseases such as Alzheimer’s disease (AD) and Parkinson’s disease (PD). The Company’s lead drug candidate, buntanetap (formerly posiphen), is an investigational once-daily oral therapy that inhibits the translation of multiple neurotoxic proteins, including APP and amyloid beta, tau, alpha-synuclein, and TDP-43, through a specific RNA-targeting mechanism of action. By addressing the underlying causes of neurodegeneration, Annovis aims to halt disease progression and improve cognitive and motor functions in patients. For more information, visit www.annovisbio.com and follow us on LinkedIn, YouTube, and X.
NOTE TO INVESTORS: The latest news and updates relating to ANVS are available in the company’s newsroom at https://ibn.fm/ANVS
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