Annovis Bio plunges on mid-stage data from Alzheimer's treatment

Annovis Bio

29/04/2024 19:29

** Shares of drug developer Annovis Bio  ANVS.N  fall as
much as 71% to over three-year low of $5.23, last down 52.5% 
    ** Shares of ANVS were halted several times for volatility 
    ** Co's experimental Alzheimer's treatment fails to show
statistical significance in meeting the goals of a mid-stage
trial
        ** Co says a "post-hoc" analysis of the trial data had
shown the drug led to statistically significant results, but it
only included a sub-group of patients - around 90 of the planned
325
    ** The drug, buntanetap, did not show statistical
significance in patients when measured using the ADCS-CGIC
method, which relies on both direct examination of the patient
by a doctor and interview of care providers
    ** Co expects to discuss the data with the U.S. FDA in the
next two to three months and then conduct a late-stage study
    ** Including session moves, stock down ~60% YTD 

 (Reporting by Sneha S K in Bengaluru)
 ((Sneha.SK@thomsonreuters.com;))