Kirby McInerney LLP Reminds Investors That a Securities Class Action Lawsuit Has Been Filed on Behalf of Annovis Bio, Inc. (ANVS) Investors and Encourages Investors to Contact the Firm Before October 18, 2021

NEW YORK, Sep 3, 2021 (GLOBE NEWSWIRE) – Law firm Kirby McInerney LLP is reminding investors that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Pennsylvania on behalf of those who acquired Annovis Bio, Inc. ( “Annovis” or the “Company” (NYSE: ANVS) securities from May 21, 2021 through July 28, 2021 (the “Class Period”) inclusive. Investors have until October 18, 2021 to apply to the court to be named as the main plaintiff in the legal dispute.

Annovis is a clinical-stage pharmaceutical company developing therapies for neurodegeneration such as Alzheimer’s disease (“AD”), Parkinson’s disease (“PD”) and Alzheimer’s disease in Down syndrome (“AD-DS”). Its main active ingredient is ANVS401 (Posiphen), an orally administered drug that is said to inhibit the synthesis of neurotoxic proteins, which are the main cause of neurodegeneration.

On July 28, 2021, after the market closed, Annovis announced preliminary clinical data from its Phase 2a study. Among other things, the company reported that AD patients showed no statistically significant improvement compared to placebo 25 days after treatment. Annovis also reported that although the patients showed cognitive improvements in certain areas, the results were not statistically significant. As a result of this news, the company’s stock price fell $ 65.94 per share, or about 60.25%, from $ 109.44 per share, to close at $ 43.50 per share on July 29, 2021.

The lawsuit alleges that defendants made materially false and / or misleading statements and failed to disclose material adverse facts about the business, operations and prospects of the company during the class action period. Specifically, Defendants have failed to advise investors: (1) that Annovis’ ANVS401 did not show statistically significant results in two patient populations for factors such as orientation, judgment and problem solving; and (2) as a result, Defendants’ statements about its business, operations and prospects were materially false and misleading and / or were inadequate at all relevant times.

The story goes on

If you have purchased or otherwise acquired Annovis securities, have information or would like to learn more about any such entitlement, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at research @ kmllp. com or by completing this contact form to discuss your rights or interests in relation to these matters at no cost to you.

Kirby McInerney LLP is a New York based law firm focused on securities, antitrust, whistleblower and consumer disputes. The company’s efforts on behalf of shareholders in securities disputes have resulted in total recoveries of billions of dollars. For more information about the company, please visit the Kirby McInerney LLP website: http://www.kmllp.com.

This press release may be viewed as a solicitation in some jurisdictions subject to applicable laws and ethical rules.

contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-371-6600
https://www.kmllp.com
[email protected]

Comments are closed.