Annovis Bio, Inc.

  • Dismissed

Investigation
08/17/2021

Initial Lawsuit
08/17/2021

Lawsuit Progression
10/18/2021

Dismissal
10/12/2021

Investigation

  • Continous Holding
    May 21, 2021 to July 28, 2021
  • Proposed Claim
    Securities Violation

Investigation regarding Annovis’ statements about its interim clinical data from its Phase II clinical trials of its lead compound ANVS401 (Posiphen).

Main Event

Alzheimer Association International Conference (AAIC)

07/28/2021

SEC Filing

As part of the Alzheimer’s Association International Conference (AAIC), Annovis presents its new clinical efficacy and biomarker data of its drug ANVS401 during a panel presentation. The results of the Phase II trials come short of statistical significance in efficacy in Alzheimer’s disease (AD) after 25 days of treatment vs. placebo. In a separate press release, the company summarizes its expectations vs. the actual results.

The stock impact compares the closing price immediately preceding the date of the event and the following closing price. The price difference also reflects the overall mix of information.

Stock Impact

Close Previous close Price variation Percentage variation
$43.5 $109.44 $-65.94 -60.25%
See more on Factual Timeline

Initial Lawsuit

The complaint was voluntarily dismissed by the plaintiff without prejudice.
Contact an attorney to know more about the filing and dismissal of a complaint.

This is a class action on behalf of persons and entities that purchased or otherwise acquired Annovis securities between May 21, 2021 and July 28, 2021, inclusive.

  • Filing Date
    08/17/2021
  • Class Period
    05/21/2021 to 07/28/2021
  • Transgression
    Securities Violation
  • Filing Firms
    Glancy Prongay & Murray LLP
    The Portnoy Law Firm
  • Case Title
    Zhou v. Annovis Bio, Inc. et al
  • Docket Number
    2:21-cv-03668
  • Court
    Pennsylvania Eastern District Court
  • Free File
    Complaint

Allegations

According to the complaint, 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 allegedly 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) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Defendants

  • Company
    Annovis Bio, Inc.
  • Chief Executive Officer
    Maria Maccecchini
  • Chief Financial Officer
    Jeffrey McGroarty

Lawsuit progression

  • Docket Number
    2:21-cv-03668
  • Court
    Pennsylvania Eastern District Court

The lead plaintiff deadline has passed, we will update this page as the lawsuit progresses.
Last event retrieved on 11/05/2021.

Dismissal

On 10/12/2021, plaintiff voluntarily dismissed the complaint.

Plaintiff . . . hereby voluntarily dismisses the above captioned action, without prejudice to his ability to participate as a class member in any other class action alleging substantially similar claims against the defendants herein.

Free File
Stipulation/Order of Dismissal

[stockdio-historical-chart symbol=”ANVS” stockExchange=”NYSENasdaq” width=”500″ height=”330″ motif=”blinds” palette=”humanity” includeVolume=false]

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