Annovis Bio Q3 net loss $0.97/share; FDA clears Phase 3 studies for buntanetap in early AD

Annovis Bio, Inc.

2024-Q3 EPS reported -$1.89

FDA granted clearance for pivotal Phase 3 studies: a 6-month symptomatic and an 18-month disease-modifying trial in early Alzheimer's disease.
Cash and cash equivalents of $13.6M as of Nov 8, 2024; management says runway extends into Q1 2025 Phase 3 start.
Q3 total operating expenses were $4.4M, down sharply from $14.9M a year ago; R&D was $2.7M vs $13.9M.
Net loss per share (basic/diluted) was $0.97, compared to $1.63 in Q3 2023.
Filed three new combination-therapy patents for buntanetap with dulaglutide, sildenafil, or both.

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