229 0 Kommentare Annovis Bio Announces Second Quarter 2023 Financial Results and Provides Corporate Update - Seite 3

Cash and cash equivalents were $15.7 million. Research and development expenses for the quarter were $8.2 million, compared to $4.0 million for the same period in 2022. The increase was primarily the result of an increase of $4.2 million in clinical expenses, as Annovis incurred costs related to its phase III study in early Parkinson’s Disease (PD) and its phase II/III Alzheimer's Disease (AD) study.
General and administrative expenses for the second quarter were $1.5 million, compared to $1.9 million for the same period in 2022. The decrease was primarily the result of a decrease of $0.5 million in stock-based compensation expense, partially offset by an increase in salaries and professional fees of $0.1 million.
Annovis reported a net loss of $9.5 million for the quarter, compared to a net loss of $5.9 million for the same period in 2022.

Staff News

New Employees

In May, Annovis hired Sarah MacCallum as senior clinical project manager, bringing the total employee count to 10.

Annovis scientists spoke at events featuring novel approaches in neurodegenerative diseases with other leaders in the life sciences and pharmaceutical industries:

Cheng Fang, Ph.D., Senior Vice President of Research and Development, hosted a roundtable discussion on “Emerging Non-Amyloid Targets for Alzheimer’s Disease” at the CNS Therapeutics Xchange-East Coast 2023 in Boston on May 24. She also presented a poster on buntanetap's novel target and mechanism of action for Alzheimer’s disease.
Maria Maccecchini, Ph.D., CEO, was a member of a panel titled “Optimizing the Pipeline” at the Longwood Healthcare Leaders Spring MIT Conference, held June 7-8 at MIT’s Koch Institute in Cambridge.
Annovis presented three posters at the Alzheimer’s Association International Conference (AAIC) 2023 annual meeting held in Amsterdam, Netherlands, from July 16-20.
- Dr. Fang presented two posters: “Do Mouse Data Lie? For Buntanetap, They Totally Predict Human Outcome,” and “Interim Analysis Results of Buntanetap in Phase III Clinical Studies in Alzheimer’s and Parkinson’s Disease.
- A third poster was presented by Don Elbert, Ph.D., associate professor of neurology, University of Washington School of Medicine, in collaboration with Annovis through the ongoing national Alzheimer’s Disease Cooperative Study (ADCS), titled “Stable Isotope Labelling Kinetics: Models and Methods to Evaluate APP Production Rates with Posiphen Treatment in the DISCOVER Clinical Trial.”
- The posters’ combined findings tell the story of an exceptionally promising treatment for neurodegenerative diseases such as AD and PD.
  - First, in a mouse model of AD, buntanetap inhibits toxic proteins in the brain, improves axonal transport, lowers inflammation, and protects nerve cells from dying, all of which is associated with improved movement and cognition.
  - Second, these findings are also replicated in all the human AD and PD phase I and II trials to date.
  - Third, in both mice and humans, there is also evidence of a dose-response relationship between the drug dose administered and the inhibition of the neurotoxic proteins - important in determining the optimal dosage in future phase II and III trials.