Benzinga | Jul 20, 2021 12:32PM EDT

Annovis Bio's Alzheimer's Candidate To Proceed Into Final Cohort Of Mid-Stage Study, Data Expected In 2022

* Data Safety Monitoring Board (DSMB) has reviewed safety and tolerability data for Cohort 2 of Annovis Bio Inc's (NYSE:ANVS) Phase 2 Alzheimer's disease trial evaluating ANVS401.

* The DSMB has approved the study to proceed with Cohort 3, the final cohort of the study.

* Funding for this research was provided by a grant from the National Institutes on Aging. The study is run by the Alzheimer's Disease Cooperative Study (ADCS) at the University of California San Diego School of Medicine.

* The safety evaluation of Cohort 2, conducted by the DSMB, reviewed data from an additional eight patients treated with ANVS401 at a dosage of 120 mg per day (2x60 mg) or placebo.

* The final data readout from the study is expected next year.

* Price Action: ANVS shares are down 1.58% at $98.92 during the market session on the last check Tuesday.