Annovis Bio jumps 2% after filing of patent for crystalline form of buntanetap

Shares of the company are up 2% or 30c per share to $14.25 in late-day trading on Tuesday after announcing the creation of a novel crystalline form of buntanetap, ANVS402 , and the filing of a new composition of matter provisional patent with the U.S. Patent and Trademark Office. The patent is groundbreaking because ANVS402 offers significant advantages over the previous, less structured form, including better stability, higher purity, and longer half-life, improving buntanetap’s effectiveness. ANVS402 is covered by a composition of matter claim as well as multiple claims for chronic and acute neurodegenerative diseases and for neuropsychiatric indications…”A new 20-year patent term means that we will be able to continue working on our robust pipeline, developing novel drug therapies for many of neurodegenerative diseases,” said Maria Maccecchini, Ph.D., CEO of Annovis…Currently, Annovis is conducting ongoing clinical trials of its lead drug candidate buntanetap: a phase III study is testing the medication in early Parkinson’s Disease, and a phase II/III study is testing the medication in moderate Alzheimer’s Disease. ANVS402 is expected to replace buntanetap in future PD and AD clinical trials after completion of a bridging study in early 2024. In addition, the phase III Parkinson’s Disease study recently received a positive safety review from the Data and Safety Monitoring Board DSMB. “Annovis is extremely excited about the potential of ANVS402 and its future iterations in the treatment of neurodegenerative diseases,” said Michael Hoffman, chairman of Annovis.