2023-04-11 09:35:18 ET
- Clinical-stage drug platform company addressing neurodegenerative diseases, Annovis Bio ( NYSE: ANVS ) has raised ~$8.7M.
- As previously disclosed, on March 31, 2023, the company entered into an ATM equity offering.
- On April 4, 2023, the company sold 704K shares at a price of $10.88 per share, for gross proceeds of ~$7.66M.
- Following the sale, the company terminated the ATM Sales Agreement effective April 9, 2023.
- On December 31, 2022, the company had $28M in cash.
- The nearly $9M in additional capital will fund the company's two ongoing studies, phase 3 in early PD and phase 2/3 in moderate AD, through completion and otherwise fund operations into the Q4 2024.
- Stock price up 2% during pre-market hours.
For further details see:
Annovis Bio raises $8.7M for ongoing studies