MALVERN, Pa. - Annovis Bio, Inc. (NYSE: ANVS), a developer of novel therapies for neurodegenerative diseases, has disclosed new findings from a past study on its drug candidate buntanetap, targeting early Alzheimer's Disease (AD). The study supports the drug's mechanism as a translational inhibitor of amyloid precursor protein (APP), a significant element in AD progression.
The clinical-stage company reported that buntanetap, an oral molecule, binds selectively to an iron-responsive element in the mRNA of APP and other neurotoxic proteins, inhibiting their translation. This action has been shown to reduce the production of amyloid beta (Aβ), a protein closely associated with AD. The study utilized Stable Isotope Labeling Kinetics (SILK) to measure APP translation and Aβ40 levels in the cerebrospinal fluid (CSF) of early AD patients.
In this randomized, double-blind, placebo-controlled study concluded in 2021, participants received varying doses of buntanetap or a placebo over a 25-day period. Following the treatment, a lumbar catheterization was performed for 36 hours to measure APP synthesis, processing, and degradation. The study, involving 15 patients, showed no dose-dependent adverse events, indicating the drug's safety and tolerability.
Additionally, the study revealed dose-dependent lowering of APP production by buntanetap, with significant differences observed between the placebo and higher dosage groups. Although the small number of patients limited statistical significance, the trend observed was consistent with buntanetap's expected action as an APP translational inhibitor.
Buntanetap, also known as Posiphen or ANVS401, is designed to combat neurodegeneration by inhibiting the formation of multiple neurotoxic proteins, potentially reversing neurodegeneration in AD. Annovis Bio aims to address memory loss and dementia in AD, as well as body and brain dysfunction in Parkinson's Disease (PD), by restoring axonal and synaptic activity.
The information is based on a press release statement from Annovis Bio, Inc.
InvestingPro Insights
Annovis Bio, Inc. (ANVS), with its focus on developing treatments for neurodegenerative diseases, has recently shown promising study results for its drug candidate buntanetap. As investors digest the potential of buntanetap, they also keep a close watch on the company's financial health and stock performance. According to InvestingPro data, Annovis Bio has a market capitalization of $131.03 million, which reflects investor confidence in its innovative approach to tackling Alzheimer's Disease and other neurodegenerative disorders.
Despite not being profitable over the last twelve months, Annovis Bio has had a strong return over the last month, with a 34.16% price total return. This could be indicative of growing investor optimism regarding the company's future, particularly as analysts predict that the company will become profitable this year—a significant InvestingPro Tip that aligns with the current momentum around its clinical advancements.
On the financial side, Annovis Bio's liquid assets exceed its short-term obligations, providing it with a cushion to fund ongoing research and development activities. This is a crucial aspect for a clinical-stage company that does not pay dividends to shareholders, as it ensures that resources are available for critical operations without the immediate pressure of generating profits. Additionally, with a PEG Ratio of 0.05 for the last twelve months as of Q4 2023, investors may find the company's growth projections relative to earnings to be attractive.
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