MALVERN, Pa., May 15, 2026 (GLOBE NEWSWIRE) -- Annovis Bio, Inc. (NYSE:ANVS) ("Annovis" or the "Company"), a Phase 3 clinical-stage biotechnology company developing the investigational oral therapy, buntanetap, for neurodegenerative diseases such as Alzheimer's disease (AD) and Parkinson's disease (PD), today provided business updates and reported financial results for the first quarter ended March 31, 2026.
"We saw strong momentum across both our AD and PD programs in the first quarter," said Maria Maccecchini, Ph.D., President and CEO of Annovis. "Our Phase 3 AD clinical trial achieved significant enrollment growth, keeping us firmly on track to complete randomization of patients in summer 2026 and deliver first top-line results in early 2027. Simultaneously, we launched a PD OLE study and have been encouraged by the robust interest from both returning and new patients. This year is pivotal: we expect to generate substantive clinical data across both indications that will anchor our regulatory path toward an NDA submission for buntanetap."
Clinical highlights
Alzheimer's disease – pivotal Phase 3 trial (NCT06709014)
Parkinson's disease – OLE study (NCT07284784)
Corporate highlights
Upcoming milestones
Financial results
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.
Investor Alerts
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Forward-Looking Statements
This press release contains forward-looking statements under the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended. Actual results may differ due to various risks and uncertainties, including those outlined in the Company's SEC filings under "Risk Factors" in its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The Company undertakes no obligation to update forward-looking statements except as required by law.
Contact Information:
Annovis Bio Inc.
101 Lindenwood Drive
Suite 225
Malvern, PA 19355
www.annovisbio.com
Investor Contact:
Alexander Morin, Ph.D.
Director, Strategic Communications
Annovis Bio
ir@annovisbio.com
(Tables to follow)
| ANNOVIS BIO, INC. Balance Sheets | ||||||||
| March 31, | ||||||||
| 2026 | December 31, | |||||||
| (Unaudited) | 2025 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 14,219,081 | $ | 19,532,338 | ||||
| Prepaid expenses and other current assets | 2,024,622 | 1,549,287 | ||||||
| Total assets | $ | 16,243,703 | $ | 21,081,625 | ||||
| Liabilities and stockholders' equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 5,275,668 | $ | 2,590,516 | ||||
| Accrued expenses | 7,514,977 | 1,044,859 | ||||||
| Total current liabilities | 12,790,645 | 3,635,375 | ||||||
| Non-current liabilities: | ||||||||
| Warrant liability | 327,000 | 595,000 | ||||||
| Total liabilities | 13,117,645 | 4,230,375 | ||||||
| Commitments and contingencies (Note 6) | ||||||||
| Stockholders' equity: | ||||||||
| Preferred stock - $0.0001 par value, 2,000,000 shares authorized and 0 shares issued and outstanding | — | — | ||||||
| Common stock - $0.0001 par value, 70,000,000 shares authorized, 28,537,302 and 27,199,139 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively | 2,854 | 2,719 | ||||||
| Additional paid-in capital | 184,433,245 | 180,552,190 | ||||||
| Accumulated deficit | (181,310,041 | ) | (163,703,659 | ) | ||||
| Total stockholders' equity | 3,126,058 | 16,851,250 | ||||||
| Total liabilities and stockholders' equity | $ | 16,243,703 | $ | 21,081,625 | ||||
| ANNOVIS BIO, INC. Statements of Operations | ||||||||
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2026 | 2025 | |||||||
| Operating expenses: | ||||||||
| Research and development | $ | 16,720,362 | $ | 5,011,517 | ||||
| General and administrative | 1,291,820 | 1,271,164 | ||||||
| Total operating expenses | 18,012,182 | 6,282,681 | ||||||
| Operating loss | (18,012,182 | ) | (6,282,681 | ) | ||||
| Other income: | ||||||||
| Interest income | 137,800 | 187,612 | ||||||
| Change in fair value of warrants (Note 7) | 268,000 | 558,000 | ||||||
| Total other income, net | 405,800 | 745,612 | ||||||
| Net loss | $ | (17,606,382 | ) | $ | (5,537,069 | ) | ||
| Net loss per share (Note 9) | ||||||||
| Basic | $ | (0.63 | ) | $ | (0.32 | ) | ||
| Diluted | $ | (0.63 | ) | $ | (0.32 | ) | ||
| Weighted-average number of common shares used in computing net loss per share | ||||||||
| Basic | 27,847,884 | 17,431,234 | ||||||
| Diluted | 27,847,884 | 17,431,234 | ||||||
