Annovis Bio Inc. (NYSE: ANVS) announced the pricing of a $15 million underwritten public offering of common stock and warrants. The biotechnology company will sell 7,895,000 shares of common stock with accompanying warrants to purchase up to 7,105,500 additional shares at a combined price of $1.90 per unit.

Each warrant carries an exercise price of $2.25 per share, becomes exercisable immediately upon issuance, and expires six years from the date of issuance. The shares and warrants will be issued separately but must be purchased together in the offering.

The company expects to receive approximately $15 million in gross proceeds before deducting underwriting discounts, commissions and other offering expenses. The offering is scheduled to close on or about May 21, 2026, subject to customary closing conditions.

Canaccord Genuity serves as the sole bookrunner for the offering. Annovis intends to use the net proceeds for continued clinical development of its lead compound buntanetap in Alzheimer's disease and Parkinson's disease studies, as well as for working capital and general corporate purposes.

The securities are being offered under an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on February 1, 2024, and declared effective on February 12, 2024.

Annovis Bio is a Phase 3 clinical-stage biotechnology company developing buntanetap, an investigational oral therapy for neurodegenerative diseases including Alzheimer's disease and Parkinson's disease. The company is headquartered in Malvern, Pennsylvania.