Core Insights - Annovis Bio Inc. is advancing its late-stage clinical drug platform focused on neurodegenerative diseases, specifically Alzheimer's disease (AD) and Parkinson's disease (PD) [1][2] - The company has made significant progress with its buntanetap program, completing two clinical trials that showed promising results in improving cognition and motor function [2][3] - Annovis has received FDA clearance to proceed with a pivotal Phase 3 trial for early AD, which commenced in early 2025 [2][6] Clinical Progress - In 2024, Annovis completed Phase 2/3 AD and Phase 3 PD clinical trials, demonstrating symptomatic improvement in early AD patients [2][6] - The pivotal Phase 3 AD study includes a 6-month data readout for symptomatic effects, with results expected in mid-2026, followed by a 12-month assessment for disease-modifying response anticipated in mid-2027 [6] - Annovis has expanded its team and patent portfolio, and participated in key scientific conferences to present findings and discuss its treatment mechanisms [2][6] Financial Results - For Q4 2024, research and development expenses were 8.9 million in Q4 2023, while general and administrative expenses increased slightly to 1.5 million [6] - The net loss per share for Q4 2024 was 2.24 per share in Q4 2023 [6][15] - For the full year 2024, research and development expenses totaled 38.8 million in 2023, with a net loss per share of 6.23 in 2023 [6][15] Cash Position - As of December 31, 2024, Annovis had cash and cash equivalents of 5.8 million a year earlier [7] - The company expects its current cash position, bolstered by a recent $21.0 million stock offering, to fund operations into Q4 2025 [7]
Annovis Provides Corporate Updates and Reports Fourth Quarter and Fiscal Year 2024 Financial Results