Annovis Bio Inc. (ANVS) Announces Proposed Share Offering

Annovis Bio, Inc. (NYSE: ANVS) today 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. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

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.

The shares and the accompanying warrant are being offered by Annovis pursuant to an effective shelf registration statement on Form S-3 (No. 333-252625) previously filed with the Securities and Exchange Commission (SEC). A preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained from: Canaccord Genuity LLC, Attention: Syndication Department, 99 High Street, Suite 1200, Boston, Massachusetts 02110, or by email at [email protected]. Electronic copies of the preliminary prospectus supplement and accompanying prospectus will also be available on the SEC’s website at http://www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or other jurisdiction.

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