Annovis Bio, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Annovis Bio, Inc. has filed its 2023 annual report (10-K) detailing financial data and share-based compensation.</b>

AI Summary

Annovis Bio, Inc. (ANVS) filed a Annual Report (10-K) with the SEC on March 29, 2024. Annovis Bio, Inc. filed its 2023 Form 10-K on March 29, 2024. The company's principal executive offices are located at 101 Lindenwood Drive, Suite 225, Malvern, PA 19355. Annovis Bio, Inc. was formerly known as QR Pharma, Inc., with a name change effective December 2, 2009. The filing includes data related to fair value inputs, common stock, retained earnings, and additional paid-in capital for the fiscal year ending December 31, 2023. Information on share-based payment arrangements, including awards granted in 2022 with various vesting periods, is detailed.

Why It Matters

For investors and stakeholders tracking Annovis Bio, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Annovis Bio's financial health and operational status for the fiscal year 2023, which is crucial for investors to assess performance and future prospects. The detailed breakdown of share-based payments and fair value inputs offers insights into the company's compensation strategies and valuation methodologies, important for understanding equity dilution and financial reporting.

Risk Assessment

Risk Level: low — Annovis Bio, Inc. shows low risk based on this filing. The filing is a standard 10-K annual report, which typically contains routine financial and operational disclosures, and does not indicate any immediate or significant new risks.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Annovis Bio's financial position and strategic outlook for the upcoming year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Date)
• 2024-03-29 — Filing Date (Date)
• 2009-12-02 — Date of Name Change (Former Company Name)

Key Players & Entities

• Annovis Bio, Inc. (company) — Filer name
• QR Pharma, Inc. (company) — Former company name
• 101 Lindenwood Drive, Suite 225, Malvern, PA 19355 (company) — Business address
• 2023-12-31 (date) — Fiscal year end
• 2024-03-29 (date) — Filing date

FAQ

Industry Context

Annovis Bio operates in the pharmaceutical preparations industry, focusing on the development of treatments for neurodegenerative diseases.

Regulatory Implications

As a publicly traded company, Annovis Bio is subject to SEC regulations, including the requirement to file annual reports (10-K) detailing its financial performance and business operations.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and cash flow.
2. Review the 'Risk Factors' section for potential business and regulatory challenges.
3. Examine executive compensation and share-based payment disclosures for insights into management incentives and potential dilution.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for financial data.
• 2024-03-29: Filing Date — Date the 10-K report was officially submitted to the SEC.
• 2009-12-02: Name Change — Date Annovis Bio, Inc. changed its name from QR Pharma, Inc.

Year-Over-Year Comparison

This is the initial 10-K filing analyzed for Annovis Bio, Inc. for the fiscal year 2023. Comparative data from previous filings would be needed for a direct comparison.

Key Financial Figures

• $0.0001 — ch Registered Common Stock, par value $0.0001 per share ANVS New York Stock Excha
• $310 million — several rounds of capital in excess of $310 million. He spent 15 years in positions at AT&T

Filing Documents

• anvs-20231231x10k.htm (10-K) — 1629KB
• anvs-20231231xex4d4.htm (EX-4.4) — 28KB
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• 0001558370-24-004393.txt (&nbsp;) — 7092KB
• anvs-20231231.xsd (EX-101.SCH) — 37KB
• anvs-20231231_cal.xml (EX-101.CAL) — 35KB
• anvs-20231231_def.xml (EX-101.DEF) — 133KB
• anvs-20231231_lab.xml (EX-101.LAB) — 354KB
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• anvs-20231231x10k_htm.xml (XML) — 876KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 84 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 93 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 93 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 93 Item 9A.

Controls and Procedures

Controls and Procedures. 93 Item 9B. Other Information. 94 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 94 Part III. 95 Item 10. Directors, Executive Officers and Corporate Governance. 95 Item 11.

Executive Compensation

Executive Compensation. 95 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 95 Item 13. Certain Relationships and Related Transactions and Director Independence. 95 Item 14. Principal Accountants Fees and Services. 95 Part IV. 96 Item 15. Exhibits and Financial Statement Schedules. 96 Item 16. Form 10-K Summary. 97 Index to Financial Statements. F-1 Signatures. 98 1 Table of Contents Cautionary Note Regarding Forward-Looking Statements. This Annual Report on Form 10-K contains forward-looking statements, within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "objective," "ongoing," "plan," "predict," "project," "potential," "should," "will," or "would," and or the negative of these terms, or other comparable terminology intended to identify statements about the future. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained in this Annual Report on Form 10-K, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. The forward-looking statements in this Annual Report on Form 10-K include, among other things, statements about: our cash and cash equivalents balance, runway and needs as well as financing plans; the timing of regulatory submissions; our ability to obtain and maintain regulatory approval of our existing product candidates and any othe

Business

Item 1. Business. Our Company Annovis Bio, Inc. is a clinical stage, drug platform company addressing neurodegeneration, such as Alzheimer's disease ("AD") and Parkinson's disease ("PD"). We are developing our lead product candidate, Buntanetap, which is designed to address AD, PD, and potentially other chronic neurodegenerative diseases. Buntanetap is a synthetically produced small molecule, orally administered, brain penetrant compound. In several studies, Buntanetap was observed to inhibit the synthesis of neurotoxic proteins—APP/A ("APP"), tau/phospho-tau ("tau") and -Synuclein ("SYN")—that are one of the main causes of neurodegeneration. High levels of neurotoxic proteins lead to impaired axonal transport, which is responsible for the communication between and within nerve cells. When that communication is impaired, the immune system is activated and attacks the nerve cells, eventually killing them. We have observed in our clinical studies in early AD and early PD patients and pre-clinical studies in mice and rats that Buntanetap lowered neurotoxic protein levels leading to improved axonal transport, reduced inflammation, lower nerve cell death and improved affected function. In 2021, we completed two Phase 1/2 clinical studies: one in 14 early AD patients, and one in 54 early PD patients (together, the "AD/PD Trials"). In the AD/PD Trials, early AD patients were defined as those with a Mini Mental State Examination (MMSE) score between 19 and 28 and early PD patients as those patients at Hoehn & Yahr stages 1, 2 or 3. MMSE is a brief screening instrument used to assess cognitive function, with total scores ranging from 0 to 30 and a lower score indicating greater disease severity, while the Hoehn & Yahr scale is a medical assessment used to measure staging of the functional disability associated with PD where a higher stage indicates greater disease severity. In collaboration with the Alzheimer's Disease Cooperative Study ("ADCS"), we also conducted a tri

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View this 10-K filing on SEC EDGAR