Shares of Annovis Bio (NYSEAMERICAN:ANVS) stock are crashing hard today after some disappointing results from its Alzheimer’s disease treatment trials.
The clinical stage drug-platform company shared data from two Phase 2 studies at the 2021 Alzheimer’s Association International Conference. And according to Investor’s Business Daily, “Annovis’ drug called Posiphen showed ‘positive trends,’ but the results weren’t statistically significant.” That said, the firm remains enthusiastic about the drug, as the figures from the studies do show positive effects on both Alzheimer’s disease and Parkinson’s disease.
Additionally, the article also states that “Annovis is targeting bad-actor proteins that, it says, impact axonal transport. Axonal transport is how nerve cells communicate with one another. The company suggests improving axonal transport could lead to a cognitive benefit in Alzheimer’s and Parkinson’s patients.”
Moreover, the drug — also called ANVS401 — “reverses the toxic cascade, starting with lowering the levels of neurotoxic proteins, improving the health of the axon, reduced inflammation and improving cognition and motor function.” Below is a chart from Annovis regarding the effects of ANVS401 on both deadly diseases.
Shares of ANVS stock were down nearly 56% as of Thursday afternoon.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Nick Clarkson is a web editor at InvestorPlace.