Nov 28, 2023
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Wolf Popper LLP Announces Investigation on Behalf of Purchasers of Annovis Bio, Inc. (ANVS) Common Stock
August 02, 2021 3:19 PM EDT | Source: Wolf Popper LLP
New York, New York--(Newsfile Corp. - August 2, 2021) - Wolf Popper LLP is investigating potential securities fraud claims on behalf of purchasers of Annovis Bio, Inc. common stock (NYSE American: ANVS).
Annovis is a clinical-drug company and its lead drug candidate is ANVS401 (a/k/a Posiphen), which is used to treat Parkinson's and Alzheimer's diseases. Annovis is conducting two Phase 2 clinical trials with Posiphen. One trial is only for Alzheimer's patients and the other trial is for both Alzheimer's and Parkinson's patients.
Wolf Popper's investigation is focused on whether Annovis misled its investors about Posiphen's efficacy in treating Alzheimer's and Parkinson's Diseases.
On May 21, 2021, Annovis announced positive results from one if its Posiphen trials for treatment of Alzheimer's patients. As a result, Annovis's stock price increased over 127% and closed at $60.00 per share.
On July 28, 2021, Annovis attended the 2021 Alzheimer's Association International Conference and presented new clinical trial data for Posiphen that failed to show statistical significance in treating Alzheimer's and Parkinson's patients relative to a placebo. On this news, Annovis's stock price collapsed $65.94 per share, or over 60%, and closed at $43.50 per share.
For more information, Annovis investors with trading losses of over $50,000 and who would like to learn more about Wolf Popper's investigation should contact Joshua Ruthizer at (212) 451-9668 or at jruthizer@wolfpopper.com.
Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper's reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm's website at www.wolfpopper.com.
Attorney Advertising: Prior Results Do Not Guarantee A Similar Outcome.
Wolf Popper LLP
Joshua Ruthizer
845 Third Avenue
New York, NY 10022
Tel.: (212) 451-9668
Email: jruthizer@wolfpopper.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91878