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MALVERN, Pa. - Annovis Bio Inc. (NYSE: ANVS), a clinical-stage biotech company with a $30.2 million market capitalization focusing on developing treatments for neurodegenerative diseases, announced today the appointment of Hui Liu as Director of Biostatistics. This strategic hire comes as the company is progressing its Phase 3 clinical trial for Alzheimer’s disease (AD). According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 3.59, indicating sufficient resources to fund its clinical programs.
Ms. Liu brings over 19 years of statistical experience in clinical trial design, analysis, and reporting across various therapeutic areas. Her role is expected to bolster the integrity of Annovis Bio’s clinical data and support regulatory submissions. "Her statistical expertise will help ensure the integrity of our data and support robust regulatory submissions as we move toward our goals," said Cheng Fang, Ph.D., Senior Vice President of Research and Development at Annovis Bio. The company’s stock has experienced significant volatility, with a 78.71% decline over the past year, though InvestingPro analysis suggests the stock may be undervalued at current levels.
The addition of Ms. Liu to the team is seen as a key component in advancing the company’s pivotal clinical trials and enhancing the evidence required for scientific progress and potential regulatory approval.
Ms. Liu expressed enthusiasm about her new position, emphasizing her commitment to applying her expertise to support the company’s clinical trials and regulatory success. Her background includes leading teams and managing large accounts, with a focus on quality, efficiency, and collaboration.
Annovis Bio, headquartered in Malvern, Pennsylvania, is actively engaged in addressing neurodegeneration associated with diseases such as AD and Parkinson’s disease (PD). The company aims to improve patient outcomes and quality of life through the development of innovative therapies.
Investors and shareholders interested in the company’s progress and updates can sign up for email alerts on the Annovis Bio website.
This announcement is based on a press release statement and contains forward-looking statements subject to various risks and uncertainties. The company has clarified that actual results may differ and does not commit to updating forward-looking statements except as required by law.
In other recent news, Annovis Bio Inc. announced the initiation of a Phase 3 trial for its Alzheimer’s drug candidate, buntanetap, enrolling the first two patients. This trial follows FDA approval of the Phase 3 protocol after promising results from a previous study. To support this endeavor, Annovis Bio recently completed a public offering, raising $21 million in gross proceeds through the sale of 5.25 million shares and accompanying warrants. The company plans to use these funds to advance buntanetap’s clinical development. However, D. Boral Capital downgraded Annovis Bio’s stock rating from Buy to Hold, expressing concerns about the structure of the financing deal and its potential impact on shareholder value.
Additionally, Annovis Bio received a notification from the New York Stock Exchange regarding non-compliance with listing standards due to its market capitalization and stockholders’ equity falling below required thresholds. The company is preparing a proposal to regain compliance. Despite these challenges, Annovis Bio continues its focus on developing treatments for neurodegenerative diseases, with the recent public offering managed by ThinkEquity. Investors are closely watching the company’s progress as it navigates these developments.
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