Annovis Bio (NYSE: ANVS), a Phase 3 clinical-stage biotechnology company, announced the pricing of an underwritten public offering that is expected to raise approximately $21 million in gross proceeds. The offering consists of 19 million common shares, pre-funded warrants to purchase up to 2 million shares, and accompanying warrants to purchase up to 21 million shares. The combined offering price is $1 per common share and accompanying warrant, or $0.9999 per pre-funded warrant and accompanying warrant. The warrants have an exercise price of $1 per share and expire five years after issuance.
The offering is expected to close on or about Nov. 6, 2026, subject to customary closing conditions. Canaccord Genuity is acting as sole bookrunner. Annovis intends to use the net proceeds to support continued clinical development of its investigational oral therapy buntanetap for Alzheimer's disease and Parkinson's disease, as well as for working capital and general corporate purposes. The gross proceeds figure excludes potential proceeds from warrant exercises and is before deducting offering expenses.
This capital raise is significant for Annovis Bio as it seeks to advance buntanetap, its lead drug candidate, through Phase 3 clinical trials. 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. The company is headquartered in Malvern, Pennsylvania, and is developing treatments for neurodegenerative diseases such as Alzheimer's disease (AD) and Parkinson's disease (PD).
The offering provides Annovis with funding to continue its clinical programs, which is critical for a clinical-stage biotech company. For investors, the pricing at $1 per share and the structure of the offering may impact the company's share count and potential dilution. The news is also relevant to the broader biotechnology sector, as it reflects ongoing investment in neurodegenerative disease research. For more information, visit www.annovisbio.com and follow the company on LinkedIn, YouTube, and X. The latest news and updates relating to ANVS are available in the company's newsroom at https://ibn.fm/ANVS. To view the full press release, visit https://ibn.fm/DGBQK.
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