Annovis Bio, Inc. Announces Pricing of $21 Million Public Offering
Summary
MALVERN, Pa., Feb. 03, 2025 (GLOBE NEWSWIRE) -- via IBN Annovis Bio, Inc. (NYSE: ANVS) (Annovis or the Company), a late-stage clinical drug platform company pioneering transformative therapies for neurodegenerative diseases such as Alzheimers disease (AD) and Parkinsons disease (PD), today announced the pricing of an underwritten public offering of 5,250,000 shares of common stock and warrants to purchase 5,250,000 shares of common stock at a combined public offering price of $4.00 per share. The offering is expected to close on February 4, 2025, subject to satisfaction of customary closing conditionsThe Company intends to use the net proceeds from the offering primarily for working capital and general corporate purposes, including the continued clinical development of the Companys lead compound, Buntanetap.ThinkEquity is acting as sole book-running manager for the offering.The securities will be offered and sold pursuant to a shelf registration statement on Form S-3, as amended (File No. The companys innovative approach targets multiple neurotoxic proteins, aiming to restore brain function and improve the quality of life for patients. Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those projected. The Company expressly disclaims any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.