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Annovis Bio (ANVS) Shares Soar 37% After Releasing Alzheimers, Parkinsons Study Results

Friday, May 21, 2021 09:33 AM | Jillian Kilcoyne
Annovis Bio (ANVS) Shares Soar 37% After Releasing Alzheimers, Parkinsons Study Results

What is Going on with ANVS?

Annovis Bio Inc. (ANVS) stock is soaring 37% in pre-market trading Friday after announcing the results of its double-blind, placebo-controlled study of ANVS401, which is a drug candidate to treat Alzheimer’s disease and Parkinson’s disease. From this study, it is shown that patients who are treated with ANVS401 show a significantly improved cognitive function after 25 days of treatment. This is measured with the Alzheimer’s Disease Assessment Scale–Cognitive Subscale 11 (ADAS-Cog11). The ANVS401-treated group improved by 4.4 points (30%) from their baseline to 25 days of treatment. Compared to the placebo group, the ANVS401-treated group improved by 3.3 points (or 22%).

Speaking on these results, Dr. Maria L. Maccecchini, CEO of Annovis Bio, states that, “the results from the first cohort of 14 AD and 14 PD patients, show that the drug is effective in both diseases. Seeing efficacy in both patient populations supports our hypothesis that the impairment of axonal transport, the information highway of the nerve cell, affects nerve cells in the same way in both diseases.  The toxic cascade in neurodegeneration begins with high levels of neurotoxic proteins, which impair axonal transport, increase inflammation and eventually lead to nerve cell death and permanent loss of cognition and function.”

What This Means for ANVS?

Further explaining Annovis’ results, Maccecchini states that, ““We previously reported that ANVS401 significantly increased speed, coordination and motor function in PD patients in this trial.  We set up this study to measure the toxic cascade leading to nerve cell death and loss of function and its reversal in AD and PD. Since the study was powered to investigate changes in biomarker levels, not to demonstrate efficacy, we believe these results are that much more impactful.”

Annovis hopes to continue collecting data from these patient treatment groups in the coming months to analyze and measure the reversal of the toxic cascade. Additional data is expected to be reported in the next two months and the full study data is expected for July or August of this year. Annovis Bio hopes to meet with the FDA to present its results after Phase 2b of the trial completes in late 2021.

Sentiment Score - ,bullish

Annovis Bio Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on ANVS!

Annovis Bio Inc is a clinical stage pharmaceutical company focused on developing and commercializing drugs for the treatment of Parkinson's and Alzheimer's diseases and other neuro degenerative diseases. The pipeline products of the company include ANVS-401, ANVS-405 and ANVS-301.

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