Annovis Bio Inc. (NASDAQ: ANVS) stock declined by 51.30% in the current market trading session. Annovis Bio based in Berwyn, Pennsylvania, is a clinical-stage therapeutic platform company focused on neurodegenerative diseases such as Alzheimer’s disease, Parkinson’s disease (PD), and Alzheimer’s in Down syndrome.
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Important Event
In a one-hour panel discussion on July 28 at the 2021 Alzheimer’s Association International Conference (AAIC) in Denver, Colorado, Annovis Bio revealed new clinical effectiveness and biomarker data for their medicine ANVS401.
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The Data Safety Monitoring Board (DSMB) of Annovis Bio has evaluated the efficacy and safety data for Cohort 2 of the company’s Phase 2 AD trial and cleared the research to move forward with Cohort 3, the study’s last cohort. The Alzheimer’s disease Cooperative Study (ADCS) at the University Of California San Diego School Of Medicine is leading this clinical research, which was funded by a grant from the National Institute on Aging.
After reviewing results from the initial eight patients in the Phase 2 AD trial administered with ANVS401 which is ANVS’ main drug, at a dosage of 60 milligrams (mg) per day, Annovis Bio received DSMB clearance to proceed from Cohort 1 of the study. The results from other eight patients who were given ANVS401 at a dose of 120 mg per day (2×60 mg) or placebo were examined by the DSMB for Cohort 2.
The study’s Project Directors are Douglas Galasko, Professor of Neurosciences at UC San Diego School of Medicine, and Martin Farlow, MD, Professor and Vice Chairman of Research at Indiana University School of Medicine.
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Howard Feldman, MD, Director of the ADCS and Professor of Neurosciences at UC San Diego School of Medicine stated,
They are overjoyed to have received clearance from the DSMB to proceed to the third and final cohort of their DISCOVER Phase 1/2 AD study. The trial sites are now ready to screen participants and are anticipated to attain full enrolment for this experiment with Cohort 3 currently available without change. They are encouraged by the progress made in this study in examining various dosages and their impacts on amyloid beta peptide generation and clearance, and they remain hopeful as we await the final trial findings.