Stock Alert: Annovis Bio Shares Rocket 122% In Premarket

(RTTNews) - Shares of Annovis Bio Inc. (ANVS) are surging over 122% in pre-market today, after the company announced that it has received Central Institutional Review Board or IRB approval to begin its Phase 2 clinical study in early PD and early AD patients at 15 sites across the US.

The two-part study is designed to treat a combined total of 68 PD and AD patients for 4 weeks with Annovis' lead compound, ANVS401.

"We are excited to receive IRB approval to move forward with this Phase 2 study in PD and AD," commented Maria Maccecchini, CEO of Annovis Bio. "While the original initiation of the trial was delayed due to COVID-19, we believe we remain on track to complete the study by the first quarter of 2021."

The stock has been trading between $2.42 and $10.61 in the past one year, and closed Monday's trade at $3.84, down 46 cents or 10.70%. ANVS is currently trading at $8.88, up $4.88 or 122% in the pre-market session.