aibioNYSE accepts Annovis Bio plan to regain listing compliance
Tickers ANVS
The NYSE accepted Annovis Bio's plan to regain compliance with its market capitalization and stockholders' equity standards, giving the company 18 months from a March 26, 2025 notice, quarterly progress reports and a warning that trading could still be suspended.
Key facts
- Company
- Annovis Bio, Inc. (NYSE: ANVS)
- News type
- Listings
- Primary source
- Annovis Bio, Inc. 8-K (2025-06-20)
Annovis Bio, Inc. (NYSE: ANVS) said on June 19, 2025 that the New York Stock Exchange had accepted a plan the company submitted to regain compliance with the exchange's continued listing standards. The standards in question concern minimum market capitalization and stockholders' equity. The company disclosed the acceptance in a press release filed as an exhibit to an 8-K on June 20, 2025.
The NYSE had sent Annovis a Notice of Noncompliance dated March 26, 2025. In the acceptance letter, the exchange granted an 18-month period, running from the company's receipt of that notice, in which to regain compliance. During that period, Annovis must give the NYSE quarterly updates on its progress toward the goals and initiatives in the plan.
A company that falls below either standard receives a notice, and an accepted plan is its route to a longer period in which to fix the shortfall rather than an immediate delisting.
What the company says about the listing
Annovis expects its stock to remain listed on the NYSE during the Plan Period, provided it follows the plan and meets the exchange's other continued listing standards. The company says the notice does not affect its business, operations or reporting obligations to the SEC.
The company's own list of risks in the release names its ability to execute the plan and to comply with the listing standards within the cure period, and the potential suspension of trading of its common stock on the NYSE.
The business behind the listing
Annovis describes itself as a late-stage clinical drug platform company addressing neurodegeneration, including Alzheimer's disease and Parkinson's disease. Its lead product candidate is buntanetap, an oral, brain-penetrant small molecule that the company says inhibits the synthesis of neurotoxic proteins linked to neurodegeneration. The annual report for 2024, filed March 21, 2025, sets out the clinical record.
The early studies were small. In 2021 the company completed two Phase 1/2 studies, one in 14 early Alzheimer's patients and one in 54 early Parkinson's patients, plus a trial in 16 early Alzheimer's patients run with the Alzheimer's Disease Cooperative Study. All three were double-blind and placebo-controlled. The company says they met the primary safety and tolerability endpoints, and that improvements in cognition in Alzheimer's patients and in function in Parkinson's patients were exploratory endpoints.
The larger studies gave mixed results. The Phase 3 study in early Parkinson's patients was completed on December 4, 2023, and topline data released July 2, 2024 showed that buntanetap improved UPDRS scores in two subgroups. In the entire intent-to-treat population the company says it stopped the loss of cognition, and in the 12% of patients who already had cognitive issues it improved cognition in a dose-dependent, statistically significant way. The company expects to discuss the data with the FDA in a Type C meeting during 2025 and plans to propose an additional, pivotal Phase 3 trial,.
In the Phase 2/3 study in mild to moderate Alzheimer's patients, completed February 13, 2024, topline data on April 29, 2024 showed buntanetap improved ADAS-Cog11 in early patients in a dose-dependent fashion, statistically significant against placebo and baseline. After an October 10, 2024 end-of-phase 2 meeting, the company says it and the FDA aligned on a development path toward new drug applications, one for short-term and one for long-term efficacy.
What the notice means for shareholders
The notice is a formal step in a process that could end with suspension if the plan fails. The release gives no date for when the company expects to meet the standards, and it states no benchmark against which shareholders can judge progress.
Who is named
The release names no bank, underwriter, placement agent or counsel. The exchange is the only other party it names.
What comes next
The next dated item is the first quarterly update the company must send the NYSE under the plan, and the release does not say when that is due. Any further notice, a compliance finding, or a suspension of trading would appear in a later release or filing.