Why Is Alzheimer's-Focused Annovis Bio Stock Nosediving On Monday?
Portfolio Pulse from Vandana Singh
Annovis Bio Inc (NASDAQ:ANVS) shares plummeted after releasing Phase 2/3 study data for buntanetap in Alzheimer's patients, showing no statistically significant difference in ADCS-CGIC scores and a large placebo effect in ADCS-ADL scores. However, improvements were observed in ADAS-Cog 11 scores, indicating a potential symptomatic effect with a disease-modification trend. The company plans to discuss the data with the FDA and proceed to a next Phase 3 study.
April 29, 2024 | 5:53 pm
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Annovis Bio Inc's stock price dropped significantly after mixed results from its Phase 2/3 Alzheimer's study of buntanetap, despite some positive findings in ADAS-Cog 11 scores.
The significant drop in Annovis Bio's stock price is directly related to the investors' reaction to the mixed results from the Phase 2/3 study of buntanetap. While there were no statistically significant differences in ADCS-CGIC scores and a large placebo effect was observed, the improvements in ADAS-Cog 11 scores suggest some potential for buntanetap. However, the immediate negative reaction reflects market concerns over the drug's efficacy and future prospects, despite the company's plans for further studies.
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