Annovis Bio (ANVS) loses nearly half after presenting Alzheimer's drug data at AAIC 2021
Jul. 29, 2021
By: Mamta Mayani, SA News Editor
Annovis Bio (NYSE:ANVS) plunges 49.3% premarket after announcing new clinical efficacy and biomarker data of its drug ANVS401 at the 2021 Alzheimer's Association International Conference (AAIC).
ANVS401 reverses the toxic cascade, starting with lowering the levels of neurotoxic proteins, improving the health of the axon, reduced inflammation and improving cognition and motor function.
In addition, data from 14 Alzheimer's disease (AD) patients show that from baseline to 25 days in the Posiphen, dubbed ANVS401-treated group, ADAS-Cog11 improved by 4.4 points, a statistically significant improvement of 30% (p<0.05).
Posiphen-treated group compared to placebo at baseline and 25 days showed an improvement of 3.3 points, or 22% (p=0.13).
Posiphen-treated group showed trends of improvement in all four ADAS-Cog tests compared to placebo.
In Parkinson's disease (PD) patients, Posiphen-treated group showed trends of improvement in all four parts of UPDRS test compared to placebo.
In WAIS coding test, ANVS401-treated AD patients show a 6.6 point and PD patients a 6.1 point improvement in coding.
However, changes in MMSE scores are not statistically significant compared to placebo.
50% and 30% of AD and PD patients (N=10) encountered adverse events. Most AEs were due to the spinal fluid extraction that resulted in headaches and back aches.
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