MALVERN, Pa., May 20, 2026 (GLOBE NEWSWIRE) — Annovis Bio, Inc. (NYSE: ANVS) (“Annovis” or the “Company”), a Phase 3 clinical-stage biotechnology company developing the investigational oral therapy, buntanetap, for neurodegenerative diseases such as Alzheimer’s disease (AD) and Parkinson’s disease (PD), today announced the pricing of an underwritten public offering of 7,895,000 shares of its common stock and accompanying warrants to purchase up to 7,105,500 shares of common stock. The combined offering price of each share of common stock and accompanying warrant is $1.90. Each warrant will be exercisable for one share of common stock at an exercise price of $2.25 per share of common stock, will be exercisable immediately following the issue date and will expire six years after the date of issuance.
All of the shares of common stock and the accompanying warrants are being offered by Annovis. The shares of common stock and the accompanying warrant will be issued separately but can only be purchased together in the offering.
Before deducting the underwriting discounts and commissions and other offering expenses, Annovis expects to receive total gross proceeds of approximately $15.0 million, excluding potential proceeds from the exercise of the warrants. The offering is expected to close on or about May 21, 2026, subject to the satisfaction of customary closing conditions.
Canaccord Genuity is acting as the sole bookrunner in the offering.
Annovis intends to use the net proceeds from the offering for the continued clinical development of its lead compound buntanetap in clinical studies for Alzheimer’s disease (AD) and Parkinson’s Disease (PD) and for working capital and general corporate purposes.
The shares and the accompanying warrants are being offered by Annovis pursuant to an effective shelf registration statement on Form S-3 (No. 333-276814) previously filed with the Securities and Exchange Commission (SEC) on February 1, 2024 and declared effective by the SEC on February 12, 2024. A final prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the SEC. When available, copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from: Canaccord Genuity LLC, Attention: Syndication Department, One Post Office Square, 30th Floor, Boston, Massachusetts 02109, or by email at prospectus@cgf.com. Electronic copies of the final prospectus supplement and accompanying prospectus will also be available on the SEC’s website at http://www.sec.gov.