Annovis Bio, Inc.

Annovis Bio, Inc. reported a net loss of $28.9 million for fiscal year 2025, an increase from a $24.6 million net loss in 2024. The company generated no revenue and incurred total operating expenses of $29.7 million, primarily driven by research and development costs of $25.2 million for its Phase 3 Alzheimer's disease trial and other clinical programs. Cash used in operating activities was $25.6 million, but net cash increased by $9.0 million to $19.5 million at year-end due to $34.6 million in financing activities from equity offerings. The company's accumulated deficit reached $163.7 million, and management expressed substantial doubt about the company's ability to continue as a going concern beyond the third quarter of 2026 without additional capital.

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