Annovis Bio shares dip on phase III Parkinson's trial data

Annovis Bio (ANVS) released new data from its phase III Parkinson's study. The data shows that cognition improvements were made in patients after treatment. Yahoo Finance Reporter Anjalee Khemlani joins Market Domination to explain why the biotechnology company's shares are declining despite the positive trial results.

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This post was written by Nicholas Jacobino

Video transcript

A novice bios phase three.

Parkinson's study showing improvements in cognition after treatment here with more is Yahoo Finance is very own, Angelique K. That's right, Josh, as you can see, the, the stock for this company is down today after it surged 100 and 19% yesterday on the good news, um a little bit of that pullback coming from the, that, you know, while it did improve cognition, that wasn't really the main goal of this drug.

It is supposed to treat Parkinson's disease and those that have, you know, an issue with motor mobility and the like.

So the cognition part of it kind of uh rolls over more into the Alzheimer's sphere and that's a separate study that the company is pursuing.

So that's sort of where you're seeing this pullback coming from.

But the good news is that the, the drug has shown some improvement.

The company is still in discussion with the FDA and when they can actually apply to bring this drug to market.

So there's no real news on bringing this to the for just yet.

They are, they are looking as far out as October for this conversation according to information from the call yesterday.

So it looks like still kind of a long runway for this drug in this company.