MALVERN, PA — Annovis Bio Inc. (NYSE: ANVS) has shared its corporate updates and financial results for the fourth quarter and full year of 2024, highlighting significant advancements in its clinical programs and a strengthened financial position.
Key among its achievements was the progress of its buntanetap program, a treatment targeting Alzheimer’s disease (AD) and Parkinson’s disease (PD). The company successfully completed two Phase 2/3 and Phase 3 trials in 2024, confirming buntanetap’s ability to enhance cognition in AD patients and motor function in PD patients. Building on these results, Annovis launched a pivotal Phase 3 trial for early-stage AD this February, with outcomes expected by mid-2026 and 2027.
Financially, Annovis reported a reduction in research and development expenses, decreasing to $20.0 million in 2024 from $38.8 million in 2023. General and administrative costs rose slightly to $6.7 million in 2024, compared to $6.2 million the previous year. The company’s net loss per share also narrowed significantly, while its cash and cash equivalents increased to $10.6 million as of December 2024, supplemented by proceeds from a $21 million stock offering.
Beyond clinical trials, Annovis expanded its scientific presence by presenting data at prominent conferences and bolstering its team with the addition of experienced professionals. With its recent progress, the company remains on track to advance its innovative therapies for neurodegenerative diseases.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.