Annovis Bio tumbles on share offering

Annovis Bio

09/04/2026 14:22

** Annovis Bio's ANVS.N shares tumble 16.1% to $1.93 before the bell after $10 mln equity raise

** Malvern, Pennsylvania-based biotech announces pricing ~5.3 mln shares and accompanying warrants at $1.90

** Offering price represents 17.4% discount to stock's last sale on Weds

** Warrants exercisable beginning in six months at exercise price of $2.50, and they expire in 5-1/2 years

** ANVS intends to use net offering proceeds for clinical development of its lead drug, buntanetap, in Phase 3 study for Alzheimer’s disease, and for working capital and general purposes

** Canaccord Genuity sole bookrunner

** Co has ~28.4 mln shares outstanding for market cap of $65 mln through Weds

** Stock had already lost 33.5% YTD at last close

** All 4 analysts covering the stock rate it "buy"; 3 PTs are $10, $17 and $20, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))