They missed endpoint ? Thats not good ->
Annovis Bio Shares Sink After Buntanetap Study Misses Endpoint
Mentioned: ANVS
By Dean Seal
Shares of Annovis Bio plummeted after the phase 2/3 study of its drug candidate buntanetap as a treatment for Alzheimer's disease missed a primary endpoint.
The stock was down 59% at $7.32 on heavy volume, with several pauses for volatility. Shares were trading around $14.57 a year ago and have swung between a high of $22.49 and a low of $5.42 in the past 12 months.
The clinical-stage drug-platform company said Monday that the phase 2/3 trial showed buntanetap producing a significantly higher rate of improvement in cognition assessment scores at each treatment dose relative to a placebo.
But another endpoint in the study, examining the drug's impact based on an assessment called Clinician's Global Impression of Change, was not met, with no statistically significant difference observed across all dosing groups of patients compared with a placebo group.
Annovis said the assessment is more subjective, allowing for a greater placebo effect as patients and caregivers were likely hopeful for a change.
The company said it plans to conduct a phase 3 study to confirm and expand its findings in an 18-month disease-modifying trial.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
April 29, 2024 11:18 ET (15:18 GMT)
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