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Annovis Bio Q3 net loss per share narrows even as R&D spending rises

By Reuters News


Overview

  • U.S. biotech firm's Q3 net loss per share narrowed from prior year

  • Research and development expenses more than doubled yr/yr as clinical trials advanced

  • Company raised $21 mln in public offering to fund operations through March 2027 data readout


Outlook

  • Company expects topline results from DUET-AD 6-month analysis in March 2027

  • Annovis projects OLE-PD study enrollment to close by January 29, 2027

  • Company expects current financing to fund operations through March 2027 data readout


Result Drivers

  • HIGHER R&D SPENDING - Research and development expenses more than doubled yr/yr as clinical trials advanced

  • CLINICAL TRIAL PROGRESS - Co shifted focus from enrollment to execution in DUET-AD Phase 3 trial and advanced open-label extension studies

  • FUNDING SECURED - Co raised $21 mln in gross proceeds through a public offering to fund operations through the 6-month data readout from DUET-AD


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Loss Per Share

$0.22


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy"

  • Wall Street's median 12-month price target for Annovis Bio Inc is $9.00, about 962.3% above its November 12 closing price of $0.85


Reuters Recommended Reads

  • Nov 12 - Relmada Therapeutics Q3 net loss widens on higher R&D costs

  • Nov 12 - SELLAS Life Sciences Q3 net loss widens on higher R&D costs

  • Nov 12 - Assembly Biosciences Q3 net loss widens on increased R&D costs


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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