Annovis Bio Announces $10 Million Registered Direct Offering for Phase 3 Buntanetap Development

On April 9, 2026, Annovis Bio, Inc. entered into an underwriting agreement with Canaccord Genuity LLC for an underwritten registered direct offering. The company agreed to sell 5,263,156 shares of its common stock at a combined offering price of $1.90 per share, accompanied by an equal number of common stock warrants. The warrants have an exercise price of $2.50 per share, become exercisable six months after issuance, and expire after five and a half years. The offering is expected to result in gross proceeds of approximately $10 million before expenses and is slated to close around April 10, 2026. Annovis Bio intends to utilize the net proceeds to fund the continued clinical development of its lead compound, Buntanetap, currently in a Phase 3 study for Alzheimer’s disease, as well as for general corporate purposes and working capital. The offering was conducted under the company's existing shelf registration statement on Form S-3.