Annovis Bio, Inc. (ANVS) stock prices skyrocketed by a staggering 127.27% as of the market closing on May 21st, 2021, bringing the price per share up to an even USD$60.00.
The company announced on May 21st, 2021 the success of its double-blind placebo-controlled study in the treatment of Alzheimer’s Disease. Patients treated with ANVS401 for a period of 25 days exhibited statistically significant cognitive improvement, according to the study. The cognitive improvement was measured by the Alzheimer’s Disease Assessment Scale-Cognitive Subscale 11.
Success of Study
The 11-part test is the standard in the measurement of impaired cognition in clinical trials for Alzheimer’s Diseases. The cohort that received ANVS401 showed a statistically significant and highly promising 30% improvement. The same cohort exhibited an improvement of 22% compared with the placebo group.
Pristine Safety Data
Prior safety data had established the safety profile of the ANVS401 drug, with interim analysis reports further consolidating the treatment as safe. The interim analysis showed ANVS401 to be safe at a dosage level and frequency of 80mg once a day in humans, with no adverse events that could have been ascribed to the drug treatment.
Trajectory of ANVS401
Following this success, ANVS expects full study data by the end of the Summer of 2021, including a dose range analysis in a cohort of 40 Parkinson’s patients. After the forecasted success of the Phase 2a trial, ANVS hopes to request a meeting with the U.S. FDA wherein the company will present the results of the trial and its chronic toxicology study in animals. Assuming the company’s trajectory stays on track, it forecasts progression into late-stage studies by later in the fiscal year 2021.
Scope of ANVS401
The company had previously reported positive results in a study involving Parkinson’s disease patients, with ANVS401 proving to be effective in the treatment of both diseases. The study that achieved these results had a cohort of 14 patients with Alzheimer’s Diseases and Parkinson’s Disease each. The efficacy observed in both patient cohorts supports ANVS’s hypothesis that the impairment of axonal transport affects nerve cells in the same way in both diseases. With more than 6 million Americans living with Alzheimer’s, the number is projected to surge to 13 million by 2050.
ANVS Public Offering
May 23rd saw the company announce the pricing of its previously disclosed public offering of shares of its common stock. ANVS will offer up to 1 million shares with a price of USD$50.00 per share. The offering is expected to close on May 26th, 2021, with gross proceeds in the amount of USD$50 million being generated before the deduction of costs related to the offering. The company hopes to use the generated funds to facilitate the completion of the planned Phase 3 clinical trial for ANVS401.
Future Outlook for ANVS
With such resounding success and a broadened scope for ANVS401, ANVS is poised to capitalize on developments in the commercialization of the treatment. Soon to be armed with a solid liquidity position owing to their ongoing public offering, the company expects to reward its investors with significant and sustained increases in shareholder value.