24/7 Market News Snapshot 15 August, 2024 – Annovis Bio, Inc. (NYSE:ANVS)

August 15, 2024

DENVER, Colo., 15 August, 2024 (247marketnews.com) – (NYSE:ANVS) are discussed in this article.
Annovis Bio, Inc. (ANVS) is witnessing a surge in market interest, with shares opening at $8.20 and currently trading at $9.135, marking a substantial increase of 16.75%. This positive movement follows a previous closing price of $7.76, indicating strong bullish sentiment among investors. The trading volume has reached 502.32K, underscoring heightened market activity. Technically, this upward trend suggests potential breakout levels, with established support around the $8 mark and resistance near $9.50. As trend indicators reflect a favorable trajectory, stakeholders are advised to monitor further price actions to confirm sustained momentum against broader market conditions.

In conjunction with this market performance, Annovis Bio has recently announced noteworthy advancements in its efforts to treat neurodegenerative diseases, highlighted by the release of its financial results for the second quarter ending June 30, 2024. The company is esteemed for its innovative drug platform, aimed at developing groundbreaking treatments for Alzheimer’s Disease (AD) and Parkinson’s Disease (PD). Dr. Maria Maccecchini, the company’s Founder, President, and CEO, noted the completion of pivotal Phase 2/3 studies for Alzheimer’s, along with a Phase 3 study for Parkinson’s, revealing promising data for their lead compound, buntanetap. The introduction of a newly developed crystalline form of buntanetap further enhances its properties and strengthens the company’s intellectual property position.

Preliminary results indicate significant cognitive improvements in early-stage Alzheimer’s patients treated with buntanetap and a trend towards decreased plasma tau protein levels, suggesting potential disease-modifying effects. Additionally, notable improvements were recorded in Parkinson’s patients, particularly in those diagnosed for over three years and with postural instability. The company reported an increase in cash and equivalents to $12.1 million as of August 14, 2024, instrumental in advancing its research and development endeavors. Annovis Bio remains committed to transforming therapeutic approaches for neurodegenerative conditions, continuing to pioneer advancements that address critical patient needs.

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