Full Press Release Details
Annovis Announces NYSE Acceptance
of Plan to Regain Listing Compliance
Malvern, Pa., June 19, 2025 -
Annovis Bio, Inc. (NYSE: ANVS) ("Annovis" or the "Company"), a late-stage clinical drug platform company pioneering
transformative therapies for neurodegenerative diseases such as Alzheimer's disease (AD) and Parkinson's disease (PD), today announced
it received notification (the "Acceptance Letter") from the New York Stock Exchange ("NYSE") that the NYSE has accepted
the Company's previously-submitted plan (the "Plan") to regain compliance with the NYSE's continued listing standards relating
to minimum market capitalization and stockholders' equity.
In the Acceptance Letter, the NYSE granted
the Company an 18-month period from the Company's receipt of the NYSE's Notice of Noncompliance dated March 26, 2025 (the
"Plan Period") to regain compliance with the continued listing standards. As part of the Plan, the Company is required to provide
the NYSE quarterly updates regarding its progress towards the goals and initiatives in the Plan.
The Company expects its stock will continue
to be listed on the NYSE during the Plan Period, subject to the Company adherence to the Plan and compliance with other applicable NYSE
continued listing standards. The Company's receipt of such notification from the NYSE does not affect the Company's business, operations
or reporting requirements with the U.S. Securities and Exchange Commission.
Forward-Looking Statements
This press release contains, and oral
statements made from time to time by our representatives may contain, "forward-looking statements." Forward-looking statements
include statements identified by words such as "could," "may," "might," "will," "intends,"
"plans," "seeks," "believes," "estimates," "expects," "continues,"
"projects" and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements
are based on our current expectations and assumptions regarding capital market conditions, our business, the economy and other future
conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks
and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated
by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking
statements include, but are not limited to, the Company's ability to develop a plan to regain compliance with the continued listing
criteria of the NYSE; the NYSE's acceptance of such plan; the Company's ability to execute such plan and to continue to comply
with applicable listing standards within the available cure period; risks arising from the potential suspension of trading of the Company's
common stock on the NYSE; regional, national or global political, economic, business, competitive, market and regulatory conditions,
including risks regarding our ability to manage inventory or anticipate consumer demand; changes in consumer confidence and spending;
our competitive environment; our failure to open new profitable stores or successfully enter new markets and other factors set forth
under "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Any forward-looking statement
made in this report speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise
any forward-looking statement, whether as a result of new information, future developments or otherwise.
Headquartered in Malvern, Pennsylvania,
Annovis is dedicated to addressing neurodegeneration in diseases such as AD and PD. The Company is committed to developing innovative
Contact Information:
101 Lindenwood Drive
Alexander Morin, Ph.D.
Director, Strategic Communications