Canaccord Genuity Reiterates Buy Rating on Annovis Bio Inc. (ANVS)

Canaccord Genuity analyst Sumant Kulkami reiterated a Buy rating and $17.00 price target on Annovis Bio Inc. (NYSE: ANVS).

The analyst commented: "ANVS' Phase 3 study for buntanetap in early Alzheimer's disease (AD) is ongoing. The company expects to report top-line data in Fall-2026 for the 6-month portion of the trial to ascertain symptomatic benefit, and in Fall-2027 for the 18-month endpoint to tease out a disease progression effect. Meanwhile, the company recently appointed Mark Guerin as its new CFO, and published a peer-reviewed paper on the pharmacokinetics (pK) of the crystal form of buntanetap that it is using in its ongoing Phase 3 trial. Recall ANVS has previously said it reached alignment with the FDA and that it could file a new drug application (NDA) if the 6-month part is "well-designed and well-executed", with the potential to expand the indication on 18-month data; see pg-23 of the 2Q25 10-Q here. So, we eagerly await the key datasets, the first of which is about a year away. That said, with a cash runway that extends "until the first quarter of 2026" (pg. 24 of the 10-Q) we continue to note ANVS needs to successfully navigate through the financing required to get to the data. We also acknowledge that developing products for AD remains a high-risk/high-reward endeavor. At the same time, we point to what we have previously characterized as a mechanism of
action and early AD data for buntanetap as very intriguing. These factors, coupled with the high unmet need in AD, especially if that were to be addressed by an oral product that is safe and efficacious, would present significant opportunity for a symptom management product. This opportunity would be even larger if the buntanetap were to be successful in modifying disease progression. As such, we continue to note the potential for upside here remains significantly higher than the downside, and are maintaining our BUY rating."

For an analyst ratings summary and ratings history on Annovis Bio Inc. click here. For more ratings news on Annovis Bio Inc. click here.

Shares of Annovis Bio Inc. closed at $2.04 yesterday.

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