Why Annovis Bio (ANVS) Stock Is Getting Hammered

Annovis Bio Inc ANVS shares are trading lower by 20.6% to $9.24 during Wednesday’s session after the company announced a delay in the release of Phase III study data for buntanetap in Parkinson’s Disease.

What Else?

The postponement is attributed to ongoing efforts in data cleaning to ensure accuracy and reliability. Maria Maccecchini, Ph.D., Founder, President and CEO of Annovis, emphasized the commitment to delivering trustworthy results, expressing understanding for potential frustration with the extension.

The company says it remains blinded to the data, and statistical analysis is pending. Annovis meanwhile assures open communication and promises timely updates on Parkinson’s Phase III study results.

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According to data from Benzinga Pro, ANVS has a 52-week high of $23.89 and a 52-week low of $5.42.