Benzinga | May 21, 2021 09:07AM EDT

Annovis Bio's Stock Trading Higher As Alzheimer's/Parkinson's Candidate Shows Cognitive Improvement

* Annovis Bio Inc (NYSE: ANVS) has announced new results from a Phase 2 study evaluating its lead drug candidate, ANVS401, for Alzheimer's disease (AD), Parkinson's disease (PD).

* The data comes from 14 AD patients and 14 PD patients.

* Participants treated with ANVS401 for 25 days showed statistically significant cognitive improvement, as per Alzheimer's cognitive subscale (ADAS-Cog11).

* From baseline to 25 days in the ANVS401-treated group, ADAS-Cog11 improved by 4.4 points.

* Additionally, the ANVS401-treated group compared to the placebo group at 25 days showed an improvement of 3.3 points, or 22% (p= 0.13).

* The safety profile of ANVS401 in the interim analysis was consistent with prior safety data that shows it to be safe at 80 mg once a day. No adverse events were reported.

* The cerebral spinal fluid and plasma samples of the 14 PD and 14 AD patients who completed treatment continue to be analyzed to measure the reversal of the toxic cascade, with additional data expected to be reported in the next two months.

* The full study data, including a dose-ranging analysis in 40 PD patients, is anticipated in July or August 2021.

* See the Annovis Bio presentation at the Benzinga Global Small Cap Conference.

* Price Action: ANVS shares jumped 38.6% at $36.6 during the premarket session on the last check Friday.