Annovis Bio Untangles Potential Error in Phase 3 Study, Shares Surge 25%

Test tubes filled with liquid using a dropper

After discovering an error that might have rendered its Phase 3 study of buntanetap in early Parkinson’s disease (PD) “worthless”, Annovis Bio, Inc. (NYSE: ANVS) spent two months untangling the issue that led to too many plasma samples being completely free of buntanetap. The company’s share price was up 25.10% at the close of Thursday’s trading session following the news.

“When we reached the point of unblinding the data for the PD Phase III study, we discovered an unexpected issue: too many plasma samples showed no presence of buntanetap. We were expecting 33% blank samples from the placebo group, but we saw over 50% blank samples,” explained Maria Maccecchini, Ph.D., Founder, President, and CEO of Annovis. “We were afraid that we had mixed up bottles and that patients weren’t given what they were supposed to.”

Dr. Maccecchini today announced successful completion of data cleaning for the study and said that the company expects to release topline efficacy data in June.

About Annovis Bio, Inc.

Headquartered in Malvern, Pennsylvania, Annovis Bio, Inc. is a clinical-stage, drug platform company addressing neurodegeneration, such as Alzheimer’s Disease (AD), Parkinson’s Disease (PD), and other chronic neurodegenerative diseases. It is believed to be the only company developing a drug for both AD and PD designed to inhibit more than one neurotoxic protein to restore axonal and synaptic activity. By improving brain function, the company’s goal is to treat memory loss and dementia associated with AD as well as body and brain dysfunction associated with PD. For more information on Annovis Bio, please visit the Company’s website www.annovisbio.com and follow us on LinkedIn and X (formerly known as Twitter).

 

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Annovis Bio Untangles Potential Error in Phase 3 Study, Shares Surge 25%

Catie Corcoran

Biotech Editor