Annovis Bio Prices Offering Of 5.25 Mln Shares At $4/Share, Stock Falls In Pre-Market

(RTTNews) - Late-stage clinical drug platform company Annovis Bio, Inc. (ANVS), Monday announced the pricing of 5.25 million common stock and warrants to purchase an equal number of shares at a combined price of $4 per share, amounting to a total of $21 million.

The proceeds would be primarily utilized for continued clinical development of the company's lead compound Buntanetap, as well as other corporate-related purposes.

The offering is estimated to close on February 4.

In the pre-market hours, Annovis's stock is moving down 17.66 percent, to $4.01 on the New York Stock Exchange.