Full Press Release Details
• Annovis Chairman of the Board invested $5.0 million as part of the underwritten public offering
• Company expects cash to fund operations through the pivotal Phase 3 Alzheimer’s data readout in March 2027
MALVERN, Pa., Nov. 09, 2026 (GLOBE NEWSWIRE) -- Annovis Bio, Inc. (NYSE: ANVS) (“Annovis” or the “Company”), a Phase 3 clinical-stage biotechnology company developing the investigational oral therapy, buntanetap, for neurodegenerative diseases such as Alzheimer’s disease (AD) and Parkinson’s disease (PD), today announced that its Chairman participated in the underwritten public offering and contributed $5.00 million, or approximately 24% of the $21.0 million offering, which closed on November 6, 2026.
“A significant contribution like this shows strong faith and confidence in our drug and its development,” said Maria Maccecchini, Ph.D., Founder, President and CEO of Annovis. “We have spent years building this program with the interests of our shareholders and patients in mind. This financing allows us to reach the data readout of our pivotal Phase 3 study of buntanetap in early AD in March 2027, a milestone our entire team is excited about and fully committed to delivering.”
The offering generated approximately $21.0 million, excluding any proceeds from the exercise of the accompanying warrants. Together with existing cash, the net proceeds are expected to fund operations without interruption through the top-line data readout from the pivotal Phase 3 AD study and the continued clinical development of buntanetap in AD and PD.
Full terms of the offering can be found in the Company’s SEC filings.
About Annovis Headquartered in Malvern, Pennsylvania, Annovis Bio, Inc. (NYSE: ANVS) is a Phase 3 clinical-stage biotechnology company developing treatments for neurodegenerative diseases such as Alzheimer's disease (AD) and Parkinson's disease (PD). The Company's lead drug candidate, buntanetap (formerly posiphen), is an investigational once-daily oral therapy that inhibits the translation of multiple neurotoxic proteins, including APP and amyloid beta, tau, alpha-synuclein, and TDP-43, through a specific RNA-targeting mechanism of action. By addressing the underlying causes of neurodegeneration, Annovis aims to halt disease progression and improve cognitive and motor functions in patients. For more information, visit www.annovisbio.com and follow us on LinkedIn, YouTube, and X.
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Forward-Looking Statements This press release contains forward-looking statements under the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended. Actual results may differ due to various risks and uncertainties, including those outlined in the Company’s SEC filings under “Risk Factors” in its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The Company undertakes no obligation to update forward-looking statements except as required by law.