Home Equities Score Here is why Annovis Bio Inc (ANVS) stock performed well on Wednesday?

Here is why Annovis Bio Inc (ANVS) stock performed well on Wednesday?

Annovis Bio Inc. (ANVS) shares were rising 1.97% to trade at $27.89 in after-market on Wednesday, May 19, 2021. Earlier, ANVS’s stock jumped 4.63% to close Wednesday’s session at $27.35. ANVS shares have soared 475.79% over the last 12 months, and they have moved up by 9.44% in the past week. Over the past three months, the stock has gained 0.18%, while over the past six months, it has risen 442.66%.

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Positive Phase 2 Data announcement for ANVS401.

On May 19, 2021, Annovis Bio Inc released results from its double-blind, placebo-controlled trial for ANVS401.

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ANVS401 is a lead drug candidate for the treatment of PD and AD. The levels of inflammatory markers in PD patients treated with ANVS401 were significantly lower than before treatment.

On May 13, 2021, the company applied with the U.S. Food and Drug Administration (FDA) to receive an orphan drug designation for ANVS401.

New VP appointment

OnMay 18, 2021, Annovis Bio Inc. appointed Cheng Fang, Ph.D., as its new Vice President of Research.

Dr. Fang is an experienced neuroscientist with more than a decade of experience in neurodegenerative diseases,

Participation in the investor conference

Annovis Bio recently participated in Benzinga Global Small-Cap Conference which took place online on May 13-14, 2021.

The company was presented by Dr. Maccecchini and Annovis Bio CFO Jeff McGroarty.

U.S patent granted for ANVS401

On May 6, 2021, Annovis Bio Inc announced that the U.S. Patent and Trademark Office (USPTO) granted the Company’s patent (US 16/504,813) for a method of treating tauopathies, such as frontotemporal dementia and chronic traumatic encephalopathy by administering ANVS401.

New appointment

On April 15, 2021, Annovis Bio Inc appointed Reid S. McCarthy to its Board of Directors and the role of Audit Committee chairman, effective April 9, 2021.

Manufacturing agreement

On March 11, 2021, Annovis Bio Inc signed an agreement for up to 10 kg of GMP-manufactured ANVS401 to support the Company’s planned late-stage studies in Alzheimer’s in Down syndrome (AD-DS), PD, and AD.

Japan Patent for ANVS405

On March 10, 2021, Annovis Bio In announced that the Japan Patent Office (JPO) granted the Company’s patent (2018-527851) for the treatment or prevention of acute brain or nerve injury by administering ANVS405.

Conclusion

The ANVS stock performed well after the company announced positive trial results about ANVS401. We can expect that ANVS share price can reach new heights in the coming days.

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About the company

Annovis Bio, Inc. (Annovis) is a clinical-stage, drug platform company addressing neurodegeneration, such as Alzheimer’s disease (AD), Parkinson’s disease (PD) and Alzheimer’s in Down Syndrome (AD-DS). The company headquartered in Berwyn, Pennsylvania, and was founded in 2008. 

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