Clinical-stage drug company Annovis Bio, Inc (NYSE: ANVS) is set to enter the market on strong footing today, with a 10% rise in stock price due to uplifting Parkinson’s data.
Specialists in neurodegenerative diseases such as Parkinson’s disease and Alzheimer’s disease, the Annovis price rally came off the back of breakthrough news regarding positive results in the Phase 2 testing of ANVS401 for the treatment of patients with Parkinson’s.
The news confirmed that the drug-in-testing ‘ANVS401’ was superior to its placebo alternative in repairing motor function amongst a test group of 54 patients suffering from Parkinson’s. The Phase 2 trials have also confirmed that the new drug is safe, with no adverse effects witnessed.
Thrilled by the positive results and the near prospect of Phase 3 testing, Maria L Maccecchini, Founder and CEO of Annovis stated:
“We are thrilled by these improvements in motor function of PD patients. Through examination of this dose-response, we can determine an optimal, safe, and efficacious dose as we move forward towards the initiation of Phase 3 clinical trials with much larger patient populations and longer timelines. These positive efficacy results, which expand on our previous data from AD and PD patients, add clarity to the benefits that ANVS401 may offer to patients suffering from these chronic neurodegenerative diseases”
The practical potential of ANVS401 is yet to be certified; however, clinical results are demonstrating a clear-cut player in the top contending neurodegenerative treatments. The market reacted well in Tuesday’s premarket trading, and although the price has lost partial momentum from highs of 16%, the stock still retains a 10% hike – trading around $33.50 from a Monday close of $30.35.
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Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.