Oct. 17, 2024 – The market is enthusiastic to Annovis Bio, Inc. (ANVS, Financial) and some say that they tackle Alzheimer's and Parkinson's in ways humanity has never achieved before. The company recently announced FDA clearance for Phase 3 trials of its lead Alzheimer's drug candidate, buntanetap.
Buntanetap is reported to do well in Phase 2 trials and has indicated improvement in patients with Alzheimer. The FDA's action to allow the company to go to Phase 3 is a positive point to the fact that buntanetap may be an effective cure for this disease that ravages the lives of so many people.
The future of Annovis Bio is wide open because its drug targets Alzheimer's and other neurodegenerative diseases that many people had. The approach of nanotechnology has the possibility of targeting many toxic proteins that cause Alzheimer's and Parkinson's indicating a better solution than the existing treatments.
The stock price conveyed a staggering one-day increase of 14.54% on Wednesday but the year-to-date loss is still 51.7%. This shows clearly that the investors have not yet fully opened up their investment on the company's future. And the company still requires more capital for funding Phase 3 Trials.
Even if there's one analyst, Ram Selvaraju from H.C. Wainwright, has reiterated Buy rating on Annovis with target price of $30 but to invest in the long term the company should be able to present itself as a profitable company.
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