San Diego, CA -- (SBWIRE) -- 09/02/2021 -- An investor, who purchased NYSE: ANVS shares, filed a lawsuit against Annovis Bio, Inc over alleged violations of Federal Securities Laws.

Investors who purchased shares of Annovis Bio, Inc. (NYSE: ANVS) have certain options and for certain investors are short and strict deadlines running. Deadline: October 18, 2021. NYSE: ANVS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Berwyn, PA based Annovis Bio, Inc., a clinical stage drug platform company, develops drugs to treat neurodegeneration.

On July 28, 2021, Annovis Bio, Inc. attended the 2021 Alzheimer's Association International Conference and presented new clinical trial data for its lead drug candidate, ANVS401 (Posiphen), that failed to show statistical significance in treating Alzheimer's and Parkinson's patients relative to a placebo.

Shares of Annovis Bio, Inc. (NYSE: ANVS) declined from $132.00 per share on July 23, 2021, to as low as $33.08 per share on July 30, 2021.

The plaintiff claims that between May 21, 2021 and July 28, 2021, the Defendants failed to disclose to investors: (1) that Annovis's ANVS401 did not show statistically significant results across two patient populations as to factors such as orientation, judgement, and problem solving; and (2) as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.

Those who purchased shares of Annovis Bio, Inc. (NYSE: ANVS) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.