Annovis Bio announces common stock, warrant offering, no amount given

Annovis Bio announced a proposed underwritten public offering in which it intends to offer and sell (i) shares of its common stock and (ii) an accompanying warrant to purchase shares of common stock. The shares of common stock and the accompanying warrant will be issued separately but can only be purchased together in the offering. All of the shares of common stock and the accompanying warrant are being offered by Annovis. Canaccord Genuity is acting as the sole bookrunner in the offering. Annovis intends to use the net proceeds from this offering, together with its existing cash, for expenses primarily related to general corporate purposes, including to fund the clinical development of Annovis’ lead drug candidate, buntanetap, including the conduct of Annovis’ on-going and planned clinical trials, potential future commercialization efforts, and future regulatory activities including preparation of regulatory filings; and for additional early-stage research and development activities; and other general corporate purposes.