Annovis Bio (ANVS)
Market Price (5/18/2026): $2.06 | Market Cap: $57.4 MilSector: Health Care | Industry: Biotechnology
Annovis Bio (ANVS)
Market Price (5/18/2026): $2.06Market Cap: $57.4 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -25% Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more. | Weak multi-year price returns2Y Excs Rtn is -107%, 3Y Excs Rtn is -165% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 17% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -41 Mil Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -76% High stock price volatilityVol 12M is 104% Key risksANVS key risks include [1] its near-total reliance on a single drug candidate, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -25% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -107%, 3Y Excs Rtn is -165% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 17% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -41 Mil |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -76% |
| High stock price volatilityVol 12M is 104% |
| Key risksANVS key risks include [1] its near-total reliance on a single drug candidate, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Dilutive Equity Offering in April 2026.
Annovis Bio's stock experienced a significant decline following the announcement of an underwritten public offering on April 9, 2026. The company priced an offering of 5,263,156 shares of common stock at $1.90 per share, along with accompanying warrants, aiming to raise approximately $10 million in gross proceeds. This dilutive equity offering led to a 26.5% drop in the stock price on the day of the announcement.
2. Widening Operating Losses and Increased Cash Burn.
The company reported a substantial increase in its net loss for the first quarter of 2026, reaching $17.6 million, compared to $5.5 million in the same period a year prior. This was primarily driven by a sharp rise in research and development expenses, which surged to $16.7 million in Q1 2026 from $5.0 million in Q1 2025, due to the advancement of its Phase 3 Alzheimer's trial and Parkinson's open-label extension.
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Stock Movement Drivers
Fundamental Drivers
The -23.7% change in ANVS stock from 1/31/2026 to 5/17/2026 was primarily driven by a -29.3% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 1312026 | 5172026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.70 | 2.06 | -23.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 20 | 28 | -29.3% |
| Cumulative Contribution | 0.0% |
Market Drivers
1/31/2026 to 5/17/2026| Return | Correlation | |
|---|---|---|
| ANVS | -23.7% | |
| Market (SPY) | 7.1% | 34.4% |
| Sector (XLV) | -5.8% | 22.1% |
Fundamental Drivers
The -1.9% change in ANVS stock from 10/31/2025 to 5/17/2026 was primarily driven by a -30.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 10312025 | 5172026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.10 | 2.06 | -1.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 19 | 28 | -30.0% |
| Cumulative Contribution | 0.0% |
Market Drivers
10/31/2025 to 5/17/2026| Return | Correlation | |
|---|---|---|
| ANVS | -1.9% | |
| Market (SPY) | 9.0% | 19.8% |
| Sector (XLV) | 1.4% | 23.6% |
Fundamental Drivers
The 38.3% change in ANVS stock from 4/30/2025 to 5/17/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302025 | 5172026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.49 | 2.06 | 38.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 15 | 28 | -47.8% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2025 to 5/17/2026| Return | Correlation | |
|---|---|---|
| ANVS | 38.3% | |
| Market (SPY) | 34.8% | 25.9% |
| Sector (XLV) | 5.1% | 22.7% |
Fundamental Drivers
The -85.9% change in ANVS stock from 4/30/2023 to 5/17/2026 was primarily driven by a -70.7% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 4302023 | 5172026 | Change |
|---|---|---|---|
| Stock Price ($) | 14.57 | 2.06 | -85.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 8 | 28 | -70.7% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2023 to 5/17/2026| Return | Correlation | |
|---|---|---|
| ANVS | -85.9% | |
| Market (SPY) | 84.7% | 20.3% |
| Sector (XLV) | 14.2% | 15.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ANVS Return | 133% | -24% | 39% | -73% | -31% | -38% | -72% |
| Peers Return | 52% | 5% | -41% | -69% | -30% | 21% | -76% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 100% |
Monthly Win Rates [3] | |||||||
| ANVS Win Rate | 50% | 42% | 42% | 33% | 33% | 20% | |
| Peers Win Rate | 38% | 44% | 44% | 25% | 44% | 55% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| ANVS Max Drawdown | -85% | -56% | -75% | -77% | -77% | -61% | |
| Peers Max Drawdown | -63% | -63% | -72% | -77% | -71% | -26% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PRTA, ALEC, ABOS, BIVI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/15/2026 (YTD)
How Low Can It Go
| Event | ANVS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -47.2% | -18.8% |
| % Gain to Breakeven | 89.3% | 23.1% |
| Time to Breakeven | 50 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -56.9% | -9.5% |
| % Gain to Breakeven | 132.3% | 10.5% |
| Time to Breakeven | 44 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -56.5% | -24.5% |
| % Gain to Breakeven | 129.7% | 32.4% |
| Time to Breakeven | 111 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -57.4% | -33.7% |
| % Gain to Breakeven | 134.8% | 50.9% |
| Time to Breakeven | 96 days | 140 days |
In The Past
Annovis Bio's stock fell -47.2% during the 2025 US Tariff Shock. Such a loss loss requires a 89.3% gain to breakeven.
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Asset Allocation
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| Event | ANVS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -47.2% | -18.8% |
| % Gain to Breakeven | 89.3% | 23.1% |
| Time to Breakeven | 50 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -56.9% | -9.5% |
| % Gain to Breakeven | 132.3% | 10.5% |
| Time to Breakeven | 44 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -56.5% | -24.5% |
| % Gain to Breakeven | 129.7% | 32.4% |
| Time to Breakeven | 111 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -57.4% | -33.7% |
| % Gain to Breakeven | 134.8% | 50.9% |
| Time to Breakeven | 96 days | 140 days |
In The Past
Annovis Bio's stock fell -47.2% during the 2025 US Tariff Shock. Such a loss loss requires a 89.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Annovis Bio (ANVS)
AI Analysis | Feedback
Here are 1-3 brief analogies for Annovis Bio:
- A specialized, clinical-stage Eli Lilly focused on developing treatments for neurodegenerative diseases like Alzheimer's and Parkinson's.
- A platform-based Biogen for early-stage drug development across a range of neurodegenerative disorders, from Alzheimer's to traumatic brain injury.
AI Analysis | Feedback
- Buntanetap: An orally administered lead compound in clinical trials for Alzheimer's disease, Parkinson's disease, Alzheimer's disease in Down Syndrome, and other chronic neurodegenerative disorders.
- ANVS405: A drug under development aimed at protecting against traumatic brain injury and stroke.
- ANVS301: A drug in Phase I clinical trials designed to increase cognitive capability in later stages of Alzheimer's disease and dementia.
AI Analysis | Feedback
Annovis Bio (ANVS) is a clinical-stage drug platform company focused on developing treatments for neurodegenerative diseases. As of the provided information, their lead compound, Buntanetap, and other pipeline drugs (ANVS405, ANVS301) are still in various stages of clinical trials (Phase 1, Phase 2a). Consequently, these drugs are not yet approved for commercial sale.
Therefore, Annovis Bio does not currently have major customers in the traditional sense, as they are not yet selling commercial drug products to individuals or other companies. Their primary activities revolve around research, development, and conducting clinical trials. Revenues for such companies typically come from equity financing, grants, or potential future licensing and partnership agreements once their drugs are further advanced or approved.
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Maria Maccecchini, Ph.D. Founder, President, and Chief Executive Officer
Dr. Maria Maccecchini founded Annovis Bio in May 2008 to develop therapies for neurodegenerative disorders, including Alzheimer's and Parkinson's diseases. A biochemist and entrepreneur with over 30 years of experience in neurodegeneration research and drug development, she previously founded Symphony Pharmaceuticals, which focused on protecting brain cells after stroke. Symphony Pharmaceuticals was acquired by Transgenomic in 2001. Her career also includes senior roles such as General Manager of Bachem Bioscience (U.S.) and Head of Molecular Biology at Mallinckrodt.
Mark Guerin, CPA, CMA, CFM. Chief Financial Officer
Mark Guerin was appointed Chief Financial Officer of Annovis Bio in September 2025, bringing extensive financial management experience in the biopharma sector. He previously served as CFO at Onconova Therapeutics, where he managed financial reporting and facilitated critical financing transactions, including rights offerings and public offerings. Onconova Therapeutics later merged with Trawsfynydd Therapeutics in April 2024 to form Traws Pharma, Inc. Mr. Guerin has experience as an interim senior finance executive for private equity portfolio companies, assisting with integration activities after acquisitions. He also served as Vice President of Finance and CFO at Cardiokine, Inc., playing a key role in the company's New Drug Application filing and its successful sale. Earlier in his career, he was Director of Financial Reporting and Internal Controls at Barrier Therapeutics, supporting the company through its IPO. He began his career at Coopers & Lybrand.
Mark White. Chief Business Officer
Mark White serves as the Chief Business Officer of Annovis Bio and is also a member of its Board of Directors. He is a seasoned biopharmaceutical leader with over two decades of global and U.S. experience in pharmaceutical and biotech marketing, business development, and strategic leadership across various therapeutic areas. His career includes significant leadership roles at prominent pharmaceutical companies such as Pfizer, Bracco, Abbott, and Bayer. At Pfizer, he was Vice President of Worldwide Marketing, responsible for global new product development and business development for the Inflammation Therapeutic Area. Mr. White holds bachelor's and master's degrees from the University of Missouri and an MBA from the University of Chicago Booth School of Business.
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Key Risks to Annovis Bio (ANVS)
- Clinical Trial Failure: Annovis Bio's success is heavily dependent on the successful development and regulatory approval of its lead drug candidate, Buntanetap, for neurodegenerative diseases like Alzheimer's and Parkinson's. Drug development in this area has historically high failure rates, particularly in late-stage trials, due to issues with efficacy or unforeseen side effects. While Buntanetap is in pivotal Phase 3 trials for Alzheimer's and an Open-Label Extension study for Parkinson's, and has received positive safety recommendations, there's no guarantee of positive efficacy readouts or eventual approval. Negative data from these trials would have a material adverse effect on the company.
- Regulatory Approval Risk: Even if clinical trials demonstrate positive results, there is no assurance that Buntanetap or other pipeline candidates will receive the necessary regulatory approvals from agencies like the FDA. The regulatory review process for central nervous system drugs is often extended due to the potential for severe side effects and the complexity of these diseases. Annovis Bio aims for a dual New Drug Application (NDA) path, which may involve combined safety data, but the ultimate decision rests with the regulatory bodies.
- Capital Requirements and Future Financing: As a clinical-stage biotechnology company with no revenue from product sales, Annovis Bio incurs significant research and development (R&D) expenses. The company has historically reported substantial net losses and will require considerable additional funding to complete the development and commercialization of its product candidates. Annovis Bio's cash reserves have been estimated to fund operations only into the third quarter of 2026, indicating a strong likelihood of needing further financing, which could lead to dilution for existing shareholders if not secured under favorable terms.
AI Analysis | Feedback
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The addressable markets for Annovis Bio's main products are detailed below:
Buntanetap
Buntanetap is in clinical trials for Alzheimer's disease (AD) and Parkinson's disease, as well as Alzheimer's disease in Down Syndrome.
- Alzheimer's Disease:
- The global Alzheimer's therapeutics market was estimated at USD 4.05 billion in 2022 and is anticipated to reach USD 15.19 billion by 2030. Other projections place the global market at USD 6.49 billion in 2025, growing to approximately USD 33.62 billion by 2034. The global Alzheimer's disease therapeutics market was valued at US$ 5.36 billion in 2024, and is expected to be worth around US$ 31.04 billion by 2034.
- The U.S. Alzheimer's therapeutics market generated a revenue of USD 1.59 billion in 2022 and is expected to reach USD 6.44 billion by 2030. Another report valued the U.S. Alzheimer's drugs market size at USD 1.62 billion in 2022.
- The global Alzheimer's disease-modifying therapies (DMT) market was estimated at $235.8 million in 2024 and is projected to reach $13.1 billion by the end of 2030.
- Specific market sizing for "Alzheimer's disease in Down Syndrome" was not identified in the search results; however, given that Down Syndrome patients often develop Alzheimer's, the general Alzheimer's disease market is relevant.
- Parkinson's Disease:
- The global Parkinson's disease treatment market size was estimated at USD 5.65 billion in 2024 and is expected to reach USD 7.58 billion by 2030. Other estimations indicate the global market reached USD 5.4 billion in 2024 and is expected to reach USD 8.7 billion by 2033. Another source states the global Parkinson's disease therapeutics market was valued at USD 6.2 billion in 2024 and is set to reach USD 13.3 billion by 2034.
- The U.S. Parkinson's disease treatment market generated a revenue of USD 1.94 billion in 2024 and is expected to reach USD 2.60 billion by 2030. The Parkinson's Disease Market Size in the US was approximately USD 1.88 billion in 2023. North America's Parkinson's disease therapeutics market was valued at US$ 2.36 billion in 2024 and is estimated to reach US$ 5.11 billion by 2033.
ANVS405
ANVS405 is being developed for protecting against traumatic brain injury and stroke.
- Traumatic Brain Injury (TBI):
- The global traumatic brain injuries treatment market is estimated to be valued at USD 2.1 billion in 2025 and is projected to reach USD 4.3 billion by 2035. Another report indicates the global traumatic brain injury treatment market was valued at USD 3.67 billion in 2024 and is expected to reach USD 6.13 billion by 2032.
- The North America Traumatic Brain Injury Treatment market was valued at USD 1.50 billion in 2024 and is expected to reach USD 2.54 billion by 2032. The USA Traumatic Brain Injuries Treatment Market is estimated to be valued at USD 805.7 million in 2025 and is anticipated to reach a valuation of USD 1.5 billion by 2035.
- Stroke:
- The global Stroke Treatment market size will be USD 37.84 billion in 2025 and is expected to reach USD 70.04 billion by 2033. The global stroke therapeutics market was valued at USD 16.6 billion in 2024 and is expected to grow to USD 36.4 billion in 2034. The global stroke management market was valued at $36.1 billion in 2022, and is projected to reach $74 billion by 2032. The global stroke diagnostic and therapeutic market size accounted for USD 42.07 billion in 2025 and is predicted to increase to approximately USD 90.62 billion by 2035.
- The U.S. stroke diagnostic and therapeutic market was valued at USD 5.88 billion in 2024 and is projected to reach approximately USD 12.64 billion by 2034. The U.S. stroke diagnostic and therapeutic market size is evaluated at USD 6.40 billion in 2025 and is predicted to be worth around USD 15.04 billion by 2035.
ANVS301
ANVS301 is in Phase I clinical trials to increase cognitive capability in later stages of AD and dementia.
- Dementia Treatment:
- The global dementia treatment market size was estimated at USD 18.03 billion in 2024 and is projected to reach USD 28.11 billion by 2030. Other reports value the global dementia treatment market at USD 17.06 billion in 2023, expected to reach USD 33.54 billion by 2032. Another source indicates the global dementia treatment market size accounted for USD 19.98 billion in 2025 and is predicted to increase to approximately USD 40.64 billion by 2034.
- The U.S. dementia treatment market generated a revenue of USD 6.26 billion in 2024 and is expected to reach USD 9.29 billion by 2030. The U.S. Dementia Treatment Market was valued at USD 5.35 billion in 2023 and is expected to reach USD 10.50 billion by 2032.
- The U.S. memory care products market was valued at USD 10.2 billion in 2025 and is projected to reach USD 18.9 billion by 2035.
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Here are 3-5 expected drivers of future revenue growth for Annovis Bio (ANVS) over the next 2-3 years:
- U.S. Commercialization of Buntanetap for Parkinson's Disease: Annovis Bio's lead compound, Buntanetap, is forecasted to launch in the U.S. for Parkinson's disease in the fourth quarter of 2026. This potential market entry represents a primary near-term revenue generation opportunity for the company.
- Advancement and New Drug Application (NDA) Submission for Buntanetap in Alzheimer's Disease: A significant driver will be the anticipated symptomatic efficacy readout from the pivotal Phase 3 Alzheimer's disease (AD) clinical trial of Buntanetap in early 2027. The 6-month symptomatic data from this trial may support an NDA filing with the FDA, which is a crucial step toward potential regulatory approval and commercialization.
- U.S. Commercialization of Buntanetap for Alzheimer's Disease: Following a successful symptomatic efficacy readout and NDA submission in early 2027, regulatory approval and initial commercial sales of Buntanetap for Alzheimer's disease in the U.S. could commence, with analysts forecasting revenue generation for Annovis Bio beginning in 2028.
- European Market Expansion for Buntanetap in Parkinson's Disease: Beyond the U.S. market, Annovis Bio is expected to expand the commercialization of Buntanetap into major European markets (France, Germany, Italy, Spain, and the UK) for Parkinson's disease, with a forecasted launch in the fourth quarter of 2028.
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Share Issuance
- Annovis Bio completed a registered direct offering in October 2025, selling 4,000,000 shares of common stock for approximately $6 million in gross proceeds, intended for working capital and general corporate purposes.
- In February 2025, the company closed an underwritten public offering of 5.25 million shares of common stock and associated warrants, raising $21 million in gross proceeds ($19.3 million net proceeds) to primarily fund the Phase 3 clinical development of Buntanetap for Alzheimer's disease.
- In April 2023, Annovis Bio raised approximately $8.7 million through an At-The-Market (ATM) program and a private placement to individual members of its Board of Directors and management.
Inbound Investments
- The company's financial operations are primarily funded through equity financing to support its clinical trials.
- The U.S. Army is funding the development of ANVS405, a neuroprotectant in late-stage development for traumatic brain injury and stroke.
Capital Expenditures
- Research and development (R&D) expenses were $25.2 million for fiscal year 2025, an increase from $20.0 million in 2024, driven by higher clinical spending.
- The primary focus of capital expenditures is the advancement of the lead drug candidate, Buntanetap, through pivotal Phase 3 Alzheimer's disease trials and ongoing clinical programs for Parkinson's disease.
- Annovis Bio continues to rely on third-party Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs) for its R&D operations, indicating outsourced clinical development and manufacturing activities.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 2.16 |
| Mkt Cap | 0.1 |
| Rev LTM | 0 |
| Op Inc LTM | -93 |
| FCF LTM | -81 |
| FCF 3Y Avg | -86 |
| CFO LTM | -81 |
| CFO 3Y Avg | -86 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -68.6% |
| Rev Chg 3Y Avg | -8.6% |
| Rev Chg Q | 817.4% |
| QoQ Delta Rev Chg LTM | 242.9% |
| Op Inc Chg LTM | 6.7% |
| Op Inc Chg 3Y Avg | 1.7% |
| Op Mgn LTM | -450.3% |
| Op Mgn 3Y Avg | -259.9% |
| QoQ Delta Op Mgn LTM | 873.3% |
| CFO/Rev LTM | -540.0% |
| CFO/Rev 3Y Avg | -302.9% |
| FCF/Rev LTM | -540.5% |
| FCF/Rev 3Y Avg | -304.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.1 |
| P/S | 11.0 |
| P/Op Inc | -1.4 |
| P/EBIT | -1.4 |
| P/E | -1.4 |
| P/CFO | -1.4 |
| Total Yield | -71.3% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -81.9% |
| D/E | 0.0 |
| Net D/E | -0.7 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -16.0% |
| 3M Rtn | 3.1% |
| 6M Rtn | -1.7% |
| 12M Rtn | 35.9% |
| 3Y Rtn | -84.8% |
| 1M Excs Rtn | -15.5% |
| 3M Excs Rtn | -5.2% |
| 6M Excs Rtn | -18.2% |
| 12M Excs Rtn | 16.0% |
| 3Y Excs Rtn | -165.3% |
Segment Financials
Net Income by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Discovery, development, and commercialization of our lead product candidate, buntanetap, which is | -25 | ||||
| Total | -25 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Discovery, development, and commercialization of our lead product candidate, buntanetap, which is | 10 | 36 | 46 | 8 | |
| Total | 10 | 36 | 46 | 8 |
Price Behavior
| Market Price | $2.06 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 01/29/2020 | |
| Distance from 52W High | -59.6% | |
| 50 Days | 200 Days | |
| DMA Price | $2.17 | $2.64 |
| DMA Trend | down | down |
| Distance from DMA | -5.1% | -22.0% |
| 3M | 1YR | |
| Volatility | 101.9% | 102.7% |
| Downside Capture | 285.19 | 222.24 |
| Upside Capture | 146.34 | 178.78 |
| Correlation (SPY) | 33.8% | 25.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.89 | 2.06 | 2.27 | 1.59 | 2.15 | 1.61 |
| Up Beta | 2.72 | 2.90 | 2.62 | 2.35 | 1.59 | 1.20 |
| Down Beta | 5.02 | 2.60 | 1.29 | -0.30 | 2.78 | 1.63 |
| Up Capture | -14% | 16% | 112% | 186% | 334% | 140% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 12 | 19 | 26 | 56 | 119 | 337 |
| Down Capture | 304% | 246% | 276% | 181% | 171% | 113% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 10 | 24 | 36 | 65 | 123 | 395 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ANVS | |
|---|---|---|---|---|
| ANVS | 23.0% | 104.1% | 0.68 | - |
| Sector ETF (XLV) | 14.8% | 14.9% | 0.71 | 25.2% |
| Equity (SPY) | 27.4% | 12.1% | 1.71 | 25.2% |
| Gold (GLD) | 42.5% | 26.8% | 1.30 | 0.8% |
| Commodities (DBC) | 45.4% | 18.5% | 1.88 | -12.3% |
| Real Estate (VNQ) | 11.5% | 13.5% | 0.56 | 12.9% |
| Bitcoin (BTCUSD) | -23.7% | 41.8% | -0.54 | 20.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ANVS | |
|---|---|---|---|---|
| ANVS | -40.8% | 129.2% | 0.18 | - |
| Sector ETF (XLV) | 4.8% | 14.7% | 0.15 | 13.2% |
| Equity (SPY) | 13.6% | 17.1% | 0.63 | 19.5% |
| Gold (GLD) | 19.4% | 17.9% | 0.88 | 3.8% |
| Commodities (DBC) | 10.9% | 19.4% | 0.45 | 3.8% |
| Real Estate (VNQ) | 2.9% | 18.8% | 0.06 | 15.9% |
| Bitcoin (BTCUSD) | 7.2% | 55.9% | 0.34 | 8.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ANVS | |
|---|---|---|---|---|
| ANVS | -14.2% | 131.5% | 0.40 | - |
| Sector ETF (XLV) | 9.6% | 16.5% | 0.47 | 13.4% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 19.0% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | 3.8% |
| Commodities (DBC) | 8.3% | 17.9% | 0.38 | 7.0% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.21 | 17.2% |
| Bitcoin (BTCUSD) | 67.4% | 66.9% | 1.06 | 10.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/16/2026 | -3.2% | -11.7% | -37.8% |
| 11/13/2025 | 2.2% | 69.4% | 71.6% |
| 8/12/2025 | -2.5% | -5.8% | -13.7% |
| 3/21/2025 | 5.7% | -5.7% | -16.0% |
| 11/12/2024 | -1.4% | -10.8% | -22.1% |
| 8/15/2024 | 14.0% | 23.8% | 3.2% |
| 4/3/2024 | -2.2% | 4.1% | -51.7% |
| 11/1/2023 | -1.1% | -10.9% | 36.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 5 | 4 | 3 |
| # Negative | 6 | 7 | 8 |
| Median Positive | 5.7% | 17.0% | 36.3% |
| Median Negative | -2.4% | -10.8% | -14.9% |
| Max Positive | 14.1% | 69.4% | 71.6% |
| Max Negative | -21.5% | -18.8% | -51.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 03/13/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 05/13/2025 | 10-Q |
| 12/31/2024 | 03/21/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 03/29/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/31/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q1 2026 Earnings Reported 5/15/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Phase 3 AD Study Full Enrollment | |||||||
| Q4 2026 PD OLE Study Enrollment Completion | |||||||
| 2027 NDA Submission (Symptomatic Treatment) | |||||||
| 2028 NDA Submission (Disease-Modifying Treatment) | |||||||
Prior: Q4 2025 Earnings Reported 3/16/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Cash Runway | 2,027 | ||||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hoffman, Michael B | Direct | Buy | 4032026 | 2.10 | 713,800 | 1,498,980 | 6,905,932 | Form | |
| 2 | Hoffman, Michael B | Direct | Buy | 12082025 | 4.31 | 45,000 | 193,794 | 11,088,199 | Form | |
| 3 | Hoffman, Michael B | Direct | Buy | 11252025 | 4.08 | 39,200 | 159,886 | 10,277,326 | Form | |
| 4 | Hoffman, Michael B | Direct | Buy | 11212025 | 3.50 | 20,000 | 69,900 | 8,704,434 | Form | |
| 5 | Hoffman, Michael B | Direct | Buy | 11182025 | 2.11 | 15,000 | 31,650 | 5,212,837 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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