Annovis Bio Shares Soar on New Phase 3 Data in Parkinson’s Disease

Shares in late-stage clinical drug platform company Annovis Bio (Nasdaq: ANVS) soared nearly 40% on Friday after the company announced new data from its Phase 3 Parkinson’s disease study. The study has demonstrated that buntanetap is safe and effective in improving motor and non-motor activities and improving cognitive functions in patients with early Parkinson’s disease. The company topped the PRISM Emerging Global Health Index at the end of the week.

Patients in the study’s placebo group demonstrated cognition deterioration for the duration of the trial, while buntanetap maintained baseline levels, indicating a statistically significant effect of the drug in stopping cognitive decline. Buntanetap was also found to improve functions in patients with Postural Instability and Gait Difficulty (PIGD).

Commenting on the news, Maria Maccecchini, Ph.D., Founder, President and CEO of Annovis Bio, said, “We are very pleased to see improvements in many of our patients over such a short course of treatment. These compelling data reinforce our commitment to advancing buntanetap into a longer study, which will allow us not only to verify observed symptomatic improvements but also to explore buntanetap’s disease-modifying properties.”

Buntanetap targets neurodegeneration by inhibiting the formation of multiple neurotoxic proteins and aims to reverse neurodegeneration, restore brain function and improve quality of life for patients living with Alzheimer’s disease, Parkinson’s disease, and other neurodegenerative diseases.

About Annovis Bio, Inc.

Headquartered in Malvern, Pennsylvania, Annovis Bio Inc. is dedicated to addressing neurodegeneration in diseases such as AD and PD. The company’s innovative approach targets multiple neurotoxic proteins, aiming to restore brain function and improve the quality of life for patients. For more information, visit www.annovisbio.com and follow us on LinkedIn, YouTube, and X.

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Annovis Bio Shares Soar on New Phase 3 Data in Parkinson’s Disease

Catie Corcoran

Biotech Editor