Annovis Bio (NYSE:ANVS) reported its full-year 2025 financial results and clinical milestones on March 16, 2026, highlighting a period of aggressive execution for its neurodegenerative disease pipeline.
The Malvern, Pennsylvania-based company is currently focused on its pivotal Phase 3 trial of buntanetap in patients with early-stage Alzheimer’s Disease (AD).
Management confirmed that the study has reached 65% enrollment across 83 clinical sites in the United States, keeping the program on track for a critical symptomatic efficacy readout in early 2027.
Beyond the Alzheimer's program, Annovis has launched an Open-Label Extension (OLE) study for its Parkinson’s Disease (PD) program.
This follow-up study allows patients who completed initial trials to continue receiving buntanetap, providing essential long-term safety data required for a future New Drug Application (NDA).
In a significant win for the company’s long-term valuation, Annovis also secured extended patent protection for a new crystal form of buntanetap, stretching its intellectual property moat to 2047.
This new form offers improved stability and is now the standard for all ongoing clinical trials.
Financial results for 2025 reflect the intensified clinical activity.
Research and development (R&D) expenses totaled $25.2 million for the year, while general and administrative (G&A) expenses were contained at $4.5 million.
The company reported a net loss of $1.40 per share, based on 20.6 million weighted average shares.
As of December 31, 2025, Annovis had 27.2 million shares outstanding and a cash balance of $19.5 million, a significant increase from the previous year following successful equity offerings.
The company expects its current cash reserves to support operations into the third quarter of 2026.