Investors with losses exceeding $50,000 are encouraged to contact the firm
PR Newswire
BENSALEM, Pa.
,
Sept. 9, 2021
/PRNewswire/ — Law Offices of
Howard G. Smith
reminds investors of the upcoming
October 18, 2021
deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Annovis Bio, Inc. (“Annovis” or the “Company”) (NYSE: ANVS) securities between
May 21, 2021
and
July 28, 2021
, inclusive (the “Class Period”).
Investors suffering losses on their Annovis investments are encouraged to contact the Law Offices of
Howard G. Smith
to discuss their legal rights in this class action at 888-638-4847 or by email to
[email protected]
.
Annovis is a clinical stage pharmaceutical company that is developing therapies addressing neurodegeneration, such as Alzheimer’s disease (“AD”), Parkinson’s disease (“PD”), and Alzheimer’s disease in Down syndrome (“AD-DS”). Its lead compound is ANVS401 (Posiphen), an orally administrated drug which purportedly inhibited the synthesis of neurotoxic proteins that are the main cause of neurodegeneration.
On
July 28, 2021
, after the market closed, Annovis reported interim clinical data from its Phase 2a trial. Among other things, the Company reported that AD patients 25 days after treatment failed to show statistically significant improvement compared to the placebo. Annovis also reported that, although patients showed cognitive improvements in certain areas, the results were not statistically significant.
On this news, the Company’s share price fell
$65.94
, or 60%, to close at
$43.50
per share on
July 29, 2021
, on unusually heavy trading volume.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Annovis’s ANVS401 did not show statistically significant results across two patient populations as to factors such as orientation, judgement, and problem solving; and (2) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.
If you purchased or otherwise acquired Annovis securities during the Class Period, you may move the Court no later than
October 18, 2021
to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact
Howard G. Smith, Esquire
, of Law Offices of
Howard G. Smith
, 3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania
19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to
[email protected]
, or visit our website at
www.howardsmithlaw.com
.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of
Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
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SOURCE Law Offices of
Howard G. Smith
