Annovis Bio upgraded to Buy at Maxim following buntanetap update

As previously reported, Maxim upgraded Annovis Bio (ANVS) to Buy from Hold with a $25 price target The company has recently provided an update on its Alzheimer’s disease – AD – program for lead asset buntanetap, announcing the FDA has approved its advancement to a Phase 3 program, and the firm is turning positive on a more clear path forward for the AD program, the analyst tells investors in a research note. Maxim further cites Annovis Bio’s efforts to strengthen the IP portfolio, and more specifically the near-term expiry on composition of matter patents, which has been an overhang of the stock.