NEW YORK, July 30, 2021 /PRNewswire/ -- Prominent
investor rights law firm Bernstein Litowitz Berger & Grossmann
LLP ("BLB&G") is investigating potential violations of the
federal securities laws by Annovis Bio, Inc. ("Annovis" or the
"Company") (NYSE American: ANVS).
BLB&G is investigating whether Annovis misled investors
regarding the efficacy of its Alzheimer's drug, Posiphen.
Annovis is a clinical-stage biotechnology company developing
treatments for neurodegenerative diseases. The Company's lead
candidate is Posiphen, or ANVS401, an orally administered drug that
purportedly inhibits the production of neurotoxic proteins that
lead to neurodegeneration. Annovis is currently testing
Posiphen in two Phase 2 clinical trials for the treatment of
Alzheimer's Disease and Parkinson's Disease.
BLB&G's investigation is focused on whether Annovis misled
investors about Posiphen's efficacy in treating patients with
Alzheimer's and Parkinson's Diseases.
On July 28, 2021, after the market
closed, Annovis reported clinical trial data for Posiphen that
failed to show statistical significance in treating Alzheimer's and
Parkinson's Disease patients relative to a placebo. On this
news, Annovis' stock price declined $65.94 per share, or over 60%.
The investigation is being led by BLB&G partners
Avi Josefson and Scott R. Foglietta. Annovis investors who
suffered a loss and would like to learn more about our
investigation, please contact BLB&G at (212) 554-4444, via
e-mail at inquiries@blbglaw.com, or through the form on our website
at
https://www.blbglaw.com/cases-investigations/annovis-bio-inc.
About BLB&G
BLB&G is widely recognized worldwide as a leading law firm
advising institutional investors on issues related to corporate
governance, shareholder rights, and securities litigation.
Since its founding in 1983, BLB&G has built an international
reputation for excellence and integrity and pioneered the use of
the litigation process to achieve precedent-setting governance
reforms. Unique among its peers, BLB&G has obtained several of
the largest and most significant securities recoveries in history,
recovering over $33 billion on behalf
of defrauded investors. More information about the firm can be
found online at www.blbglaw.com.
This press release may be considered Attorney Advertising under
the applicable law and ethics rules of some
jurisdictions. Prior results do not guarantee a similar
outcome.
Contact
Avi
Josefson
Scott R. Foglietta
Bernstein Litowitz Berger & Grossmann LLP
1251 Avenue of the Americas, 44th Floor
New York, New York 10020
(212) 554-4444
inquiries@blbglaw.com
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SOURCE Bernstein Litowitz Berger & Grossmann LLP