Annovis Bio Announces Public Offering to Fund Buntanetap Development

Annovis Bio Inc. (NYSE: ANVS) announced a proposed underwritten public offering of shares of its common stock and accompanying warrants. The clinical-stage biotechnology company, which is developing buntanetap for neurodegenerative diseases, intends to use the net proceeds to support the continued clinical development of buntanetap in a Phase 3 Alzheimer's disease study, as well as for working capital and general corporate purposes. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed or the actual size or terms of the offering.

Buntanetap (formerly posiphen) is an investigational once-daily oral therapy that targets multiple neurotoxic proteins, including APP, amyloid beta, tau, alpha-synuclein, and TDP-43, through a specific RNA-targeting mechanism of action. Unlike treatments that address only one aspect of neurodegeneration, buntanetap aims to halt disease progression by tackling the underlying causes. The drug is currently being evaluated in a Phase 3 study for Alzheimer's disease, with additional potential in Parkinson's disease. Annovis has previously reported promising data from earlier trials, showing improvements in cognitive and motor functions.

The announcement of the public offering comes as the company seeks to secure funding for the costly late-stage clinical trials. Alzheimer's disease affects millions worldwide, and effective treatments remain limited. Annovis's approach of inhibiting the translation of multiple neurotoxic proteins could offer a novel therapeutic option if proven successful. The success of the Phase 3 study is critical for the company's future and for patients awaiting new treatments.

The company is headquartered in Malvern, Pennsylvania, and is focused on neurodegenerative diseases. More information about Annovis Bio and its pipeline can be found on its website at www.annovisbio.com. The latest news and updates relating to ANVS are available in the company's newsroom at https://ibn.fm/ANVS.

This funding move underscores the capital-intensive nature of drug development, particularly for neurodegenerative disorders where clinical trials are lengthy and expensive. Annovis's ability to raise funds through a public offering reflects investor interest in its pipeline, though it also dilutes existing shareholders. The company's focus on buntanetap positions it in a competitive landscape that includes other Alzheimer's treatments, but its unique mechanism could differentiate it if the Phase 3 results are positive.