Annovis Raises $10 Million to Fund Phase 3 Alzheimer’s Trial Through Q2 2027
Annovis closed a $10 million underwritten public offering plus $1.5 million board investment, extending cash runway through Q2 2027 to fund operations through a Phase 3 Alzheimer’s 6-month data readout and NDA submission. The Phase 3 trial is 75% enrolled and a Parkinson’s open-label study has reached 28% enrollment.
1. Offering Raises $10 Million
Annovis closed an underwritten public offering generating $10 million in gross proceeds, supplemented by a $1.5 million investment from the board chair, securing funding through Q2 2027.
2. Phase 3 Alzheimer’s Trial Enrollment
The Phase 3 Alzheimer’s disease trial for buntanetap is 75% enrolled, targeting a 6-month symptomatic evaluation followed by an 18-month disease modification assessment, each with its own NDA submission.
3. NDA Submission Timeline
Preparation is underway for the first NDA submission to the FDA, with a 6-month symptomatic data readout anticipated in Q1 2027 and plans to integrate safety data from both Alzheimer’s and Parkinson’s trials.
4. Parkinson’s Open-Label Extension Study
The open-label extension in Parkinson’s disease has reached 28% enrollment and will run for 36 months, incorporating an AI-enabled digital biomarker device to monitor patient symptoms in real time.