Positive news about Berwyn-based Annovis Bio’s experimental Alzheimer’s disease therapy bumped the company’s stock up by 16 percent Monday during mid-afternoon trading, writes John George for the Philadelphia Business Journal.
The stock went from an opening price of $6.80 per share to $7.53.
The 5-year-old drug developer announced that the 2/3 phase of the clinical trial for its new lead drug candidate buntanetap exceeded full enrollment. Buntanetap is being tested as a treatment for mild to moderate Alzheimer’s disease.
The enrollment shows “the Alzheimer’s community’s strong endorsement of our mission” to develop a treatment for the neurological disorder that targets multiple neurotoxic proteins, said Annovis’ founder and CEO Maria Maccecchini.
A combined total of 353 patients were enrolled at 54 clinical trial locations in the United States.
Read more about Annovis Bio’s experimental Alzheimer’s disease therapy in the Philadelphia Business Journal.
______
