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NEW YORK, August 03, 2021--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Annovis Bio, Inc. ("Annovis" or the "Company") (NYSE: ANVS). The investigation concerns whether Annovis has violated the federal securities laws and/or engaged in other unlawful business practices.
Annovis is a clinical-stage biotechnology company developing treatments for neurodegenerative diseases. The Company’s lead candidate is Posiphen, or ANVS401, an orally administered drug that purportedly inhibits the production of neurotoxic proteins that lead to neurodegeneration. Annovis is currently testing Posiphen in two Phase 2 clinical trials for the treatment of Alzheimer’s Disease and Parkinson’s Disease.
On July 28, 2021, after the market closed, Annovis reported clinical trial data for Posiphen that failed to show statistical significance in treating Alzheimer’s and Parkinson’s Disease patients relative to a placebo. On this news, Annovis’ stock price declined by $65.94 per share, or approximately 60.25%, from $109.44 per share to close at $43.50 per share on July 29, 2021.
If you purchased or otherwise acquired Annovis securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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