Annovis Bio, Inc. (ANVS), a clinical-stage biotechnology firm that develops drugs to treat neurodegeneration, announces a public offering in which it intends to offer shares and accompanying warrants.
Annovis Bio develops treatments for Alzheimer's disease (AD) and Parkinson's disease. The firm's lead drug candidate, Buntanetap (formerly posiphen), is an investigational once-daily oral therapy.
Annovis intends to use the net proceeds from the offering for the continued clinical development of its lead compound Buntanetap in a Phase 3 study for Alzheimer's disease (AD), and for working capital and general corporate purposes.
ANVS has traded between $1.54 and $5.50 over the last year. The stock closed Tuesday's trade at $1.94, down 5.37%.
In the pre-market, ANVS is down 18.77% at $1.58.
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