Annovis Bio Reports $6.2 Million Net Loss in Q2 2025, Increases Total Assets to $21.5 Million

Annovis Bio, Inc. reported its financial results for the second quarter of 2025, revealing a net loss of $6.2 million, compared to a net loss of $5.0 million for the same period in 2024. For the six months ended June 30, 2025, the company recorded a net loss of $11.8 million, significantly higher than the $6.1 million loss reported in the prior year. The increase in losses is attributed to higher operational costs associated with ongoing clinical trials and research activities. Total operating expenses for the second quarter were $6.3 million, down from $7.8 million in the previous year, primarily due to reduced research and development costs.

Annovis reported total assets of $21.5 million as of June 30, 2025, a substantial increase from $13.9 million at the end of 2024. This growth was driven by a significant rise in cash and cash equivalents, which reached $17.1 million, up from $10.6 million at the end of the previous fiscal year. The company’s accumulated deficit also increased to $146.6 million, reflecting its ongoing investment in research and development without generating revenue. The decrease in operating expenses was mainly due to lower contract manufacturing costs, offset by increased clinical labor costs related to the company's Phase 3 Alzheimer’s disease program.

In terms of strategic developments, Annovis completed a public offering in February 2025, raising approximately $19.3 million in net proceeds. This funding is expected to support the company's ongoing clinical trials, including its pivotal Phase 3 study for its lead product candidate, buntanetap, which targets neurodegenerative diseases such as Alzheimer’s and Parkinson’s. The company has also initiated a Phase 2/3 study for mild to moderate Alzheimer’s patients, further expanding its clinical pipeline.

Operationally, Annovis has made progress in its clinical trials, with the Phase 3 study for Parkinson’s disease completed in December 2023 and topline efficacy data released in July 2024. The company is currently focused on advancing its product candidates through regulatory pathways, with plans to file New Drug Applications (NDAs) based on the outcomes of its clinical studies. As of June 30, 2025, the company had 19.5 million shares of common stock outstanding, reflecting its efforts to raise capital through equity offerings.

Looking ahead, Annovis anticipates continued losses as it invests in the development of its product candidates. The company has indicated that its current cash reserves may not be sufficient to fund operations for the next 12 months, necessitating additional capital raises. Management plans to explore various financing options, including public or private equity offerings and potential collaborations, to support its ongoing clinical development and operational needs.