Annovis Bio Announces 2nd Quarter 2022 Results and Provides Corporate Update.

BERWYN, Pa: Annovis Bio, Inc. ( NYSE: ANVS) ("Annovis" or the "Company"), a clinical-stage drug platform company addressing neurodegenerative diseases, today announced second quarter financial results for the quarter ended June 30, 2022, and reviewed recent accomplishments.

Maria L. Maccecchini, Ph.D., Founder, President, and CEO of Annovis, commented: "Because of buntanetap's unique mode of action, it has the potential to act on a variety of neurodegenerative disorders. As a result, in the second quarter, we have taken significant steps to expand our intellectual property portfolio as it relates to buntanetap. Importantly, the FDA has approved our Phase 3 clinical trial design in early PD patients. This approval affirms the Company's path to securing approval for buntanetap to treat neurodegenerative diseases, including Parkinson's and Alzheimer's diseases, with longer treatment regimens."

Recent Highlights and New Developments

Receipt of positive FDA Notice for Buntanetap Phase 3 clinical trial in Parkinson's Disease: The Company received notice from the FDA that the Phase 3 clinical study in early Parkinson's patients may proceed. The FDA accepted the final protocol and the clinical development plan, approved the use of the Company's new large-scale batch of good manufacturing practice material, and found the chronic toxicology in rats and dogs safe and adequate to support long-term human studies lasting decades compared to the previous restriction of one month.

Submission of an international patent application to cover the treatment of neurological injuries caused by infections: The Company announced the submission of an international patent application under the Patent Cooperation Treaty for its drug platform buntanetap. The patent claims a method of inhibiting, preventing, or treating neurological injuries due to viral...

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