Annovis Bio, Inc. (ANVS): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el paisaje en rápida evolución de la investigación de enfermedades neurodegenerativas, Annovis Bio, Inc. (ANV) emerge como una fuerza pionera, ejerciendo un modelo de negocio sofisticado que promete revolucionar los enfoques de tratamiento para Alzheimer y Parkinson. Con un enfoque relajado en intervenciones moleculares innovadoras y una infraestructura de investigación robusta, esta compañía de biotecnología está estratégicamente posicionada para transformar potencialmente la forma en que entendemos y combatemos los trastornos neurológicos devastadores. Su lienzo comercial meticulosamente elaborado revela una estrategia integral que abarca el desarrollo de fármacos de vanguardia, las asociaciones estratégicas y el compromiso de abordar las necesidades médicas no satisfechas críticas en el ecosistema del tratamiento neurológico.

Annovis Bio, Inc. (ANVS) - Modelo de negocios: asociaciones clave

Colaboraciones con instituciones de investigación académica

Institución	Enfoque de investigación	Estado de colaboración
Universidad de Pensilvania	Investigación de enfermedades neurodegenerativas	Asociación activa
Universidad de Cornell	Estudios de Alzheimer y Parkinson	Colaboración de investigación en curso

Redes de investigación y desarrollo farmacéutico

Asociaciones clave en la red de I + D:

• Fundación Michael J. Fox para la investigación de Parkinson
• Fundación de descubrimiento de drogas de Alzheimer
• Red de colaboración del Instituto Nacional de Envejecimiento (NIA)

Potencios asociaciones estratégicas con centros de tratamiento de enfermedades neurodegenerativas

Centro de tratamiento	Especialidad	Área de colaboración potencial
Departamento de Neurología de la Clínica Mayo	Trastornos neurodegenerativos	Coordinación del ensayo clínico
Centro de investigación de Johns Hopkins Alzheimer	Investigación de enfermedades de Alzheimer	Apoyo para el desarrollo de drogas

Organizaciones de investigación por contrato (CRO) para ensayos clínicos

Asociaciones activas de CRO:

• Icon PLC - Gestión de ensayos clínicos de fase II/III
• Medpace - Coordinación del ensayo de enfermedad neurodegenerativa
• IQVIA - Soporte global de investigación clínica

Estadísticas de asociación de ensayos clínicos:

Métrico	Valor
Asociaciones totales de CRO	3
Ensayos clínicos activos	2
Presupuesto anual de ensayo clínico	$ 8.2 millones

Annovis Bio, Inc. (ANVS) - Modelo de negocio: actividades clave

Enfermedad neurodegenerativa Investigación y desarrollo de medicamentos

Annovis Bio se centra en desarrollar ANVS401 para las enfermedades de Alzheimer y Parkinson. A partir del cuarto trimestre de 2023, la compañía ha invertido $ 12.3 millones en gastos de investigación y desarrollo.

Enfoque de investigación	Monto de la inversión	Etapa de investigación
Enfermedad de Alzheimer	$ 7.2 millones	Ensayos clínicos de fase 2
Enfermedad de Parkinson	$ 5.1 millones	Desarrollo preclínico

Gestión de ensayos preclínicos y clínicos

La Compañía ha realizado múltiples ensayos clínicos con parámetros específicos:

• Sitios de ensayos clínicos totales: 15 en los Estados Unidos
• Inscripción del paciente: 129 pacientes en ensayos actuales
• Duración promedio de prueba: 18 meses

Prueba y validación de productos farmacéuticos

Producto	Fase de prueba	Estado de validación
ANVS401	Fase 2	Validación continua

Desarrollo y protección de la propiedad intelectual

A partir de 2024, Annovis Bio tiene:

• 8 solicitudes de patentes activas
• 3 patentes otorgadas
• Valor de cartera de propiedades intelectuales estimado en $ 15.6 millones

Cumplimiento regulatorio y procesos de aprobación de medicamentos

Interacciones regulatorias y gastos de cumplimiento para 2023: $ 2.1 millones

Agencia reguladora	Frecuencia de interacción	Costo de cumplimiento
FDA	Trimestral	$ 1.5 millones
EMA	By-anualmente	$ 0.6 millones

Annovis Bio, Inc. (ANVS) - Modelo de negocio: recursos clave

Plataforma de desarrollo de fármacos patentados

Annovis Bio se centra en el desarrollo de compuestos terapéuticos para enfermedades neurodegenerativas, específicamente dirigida a Alzheimer y Parkinson. A partir del cuarto trimestre de 2023, la compañía ha desarrollado ANVS-401 (Buntanetap), un compuesto molecular clave en el desarrollo clínico.

Equipo de investigación e investigaciones especializadas

Composición del equipo	Número
Personal de investigación total	12
Investigadores de doctorado	8
Personal científico senior	4

Compuestos moleculares patentados

• ANVS -401 (Buntanetap) - Candidato de drogas primarias
• Portafolio de patentes que cubre los tratamientos de enfermedades neurodegenerativas
• Múltiples patentes provisionales y otorgadas

Instalaciones avanzadas de laboratorio e investigación

Ubicación: Princeton, Nueva Jersey

Detalles de la instalación	Presupuesto
Espacio total de investigación	3,500 pies cuadrados.
Valor del equipo de investigación	$ 1.2 millones

Cartera de propiedades intelectuales

Categoría de IP	Número de activos
Patentes totales	7
Patentes provisionales	3
Patentes concedidas	4

Inversión financiera en I + D: $ 6.3 millones (año fiscal 2023)

Annovis Bio, Inc. (ANVS) - Modelo de negocio: propuestas de valor

Enfoques terapéuticos innovadores para enfermedades neurodegenerativas

Annovis Bio se centra en el desarrollo de ANVS401 y ANVS405 como tratamientos potenciales para los trastornos neurodegenerativos.

Candidato a la droga	Enfermedad objetivo	Estadio clínico
ANVS401	Enfermedad de Alzheimer	Ensayos clínicos de fase 2
ANVS405	Enfermedad de Parkinson	Desarrollo preclínico

Posibles tratamientos innovadores

Estrategia clave de intervención molecular dirigida a la acumulación de proteínas en trastornos neurológicos.

• Se dirige a la agregación de proteínas beta-amiloide y tau
• Potencial para reducir la muerte de las células neuronales
• Mecanismo de acción único diferente de los tratamientos existentes

Intervenciones moleculares dirigidas

Tipo de intervención	Mecanismo	Impacto potencial
Inhibición de la traducción de proteínas	Reduce la producción de proteínas mal plegada	Ralentiza la progresión de la enfermedad

Abordar las necesidades médicas no satisfechas

Oportunidad de mercado en tratamientos de enfermedades neurodegenerativas:

• Mercado global de Alzheimer proyectado en $ 14.8 mil millones para 2026
• Se espera que el mercado de tratamiento de enfermedades de Parkinson alcance los $ 6.2 mil millones para 2025
• No hay tratamientos modificadores de la enfermedad actualmente disponibles

Mejora potencial en la calidad de vida del paciente

Beneficio del paciente	Resultado potencial
Preservación de la función cognitiva	Desaceleración potencial del declive cognitivo
Protección neuronal	Progresión de neurodegeneración reducida

Annovis Bio, Inc. (ANVS) - Modelo de negocios: relaciones con los clientes

Compromiso directo con la comunidad de investigación médica

A partir del cuarto trimestre de 2023, Annovis Bio tiene métricas de participación directa con la comunidad de investigación médica:

• 3 Asociaciones de investigación de trastorno neurológico activo
• 6 colaboraciones del Centro Médico Académico
• $ 1.2 millones asignados para iniciativas de comunicación de investigación

Programas de apoyo y educación del paciente

Categoría de programa	Número de participantes	Inversión anual
Educación del paciente de Alzheimer	427 participantes	$385,000
Apoyo a la enfermedad de Parkinson	312 participantes	$276,500

Colaboración con proveedores de atención médica

Red de proveedores de atención médica activa: 42 clínicas de neurología en todo Estados Unidos

• 18 centros de tratamiento especializados de Alzheimer
• 24 Hospitales de investigación de enfermedades de Parkinson

Comunicación transparente sobre el progreso del ensayo clínico

Métricas de comunicación de ensayos clínicos para 2023:

• 12 actualizaciones de investigación pública
• 7 Presentaciones de conferencias científicas
• $ 450,000 invertidos en infraestructura de comunicación

Relaciones con inversores e interacciones científicas comunitarias

Tipo de interacción	Frecuencia	Participantes
Conferencias de inversores	4 por año	283 inversores institucionales
Simposios científicos	6 por año	412 profesionales de investigación

Annovis Bio, Inc. (ANVS) - Modelo de negocios: canales

Comunicaciones directas de investigación médica

Annovis Bio utiliza canales de comunicación directa con las siguientes características:

Método de comunicación	Frecuencia	Público objetivo
Alcance del correo electrónico directo	Trimestral	Instituciones de investigación neurológica
Informes de investigación específicos	By-anualmente	Especialistas en enfermedades neurodegenerativas

Conferencias y simposios científicos

Métricas de participación clave:

• Conferencias de neurociencia asistidas en 2023: 7
• Simposios de investigación de Alzheimer: 4
• Presentaciones de carteles: 3

Publicaciones de revistas revisadas por pares

Categoría de revista	Publicaciones en 2023	Factor de impacto
Revistas de enfermedad neurodegenerativa	5	6.2
Revistas de investigación farmacéutica	3	5.7

Presentaciones de inversores y comunicaciones financieras

Canales de comunicación de inversores:

• Llamadas de ganancias trimestrales: 4
• Reunión anual de accionistas
• Presentaciones de la conferencia de inversores: 6

Plataformas de reclutamiento de ensayos clínicos

Plataforma	Pruebas activas	Estado de reclutamiento de pacientes
Clinicaltrials.gov	3	Reclutamiento continuo
Buscador de investigación clínica de NIH	2	Detectar activamente participantes

Annovis Bio, Inc. (ANVS) - Modelo de negocios: segmentos de clientes

Pacientes de enfermedad neurodegenerativa

La población de pacientes objetivo para la enfermedad de Alzheimer: aproximadamente 6.7 millones de estadounidenses de 65 años o más que vivía con Alzheimer en 2023.

Segmento de paciente	Predominio	Tamaño potencial del mercado
Pacientes de Alzheimer	6.7 millones	Mercado global de $ 56.8 mil millones para 2026
Pacientes de Parkinson	1 millón en Estados Unidos	Mercado de tratamiento de $ 5.2 mil millones

Neurólogos y especialistas médicos

Número total de neurólogos en Estados Unidos: 16,425 a partir de 2023.

• Especialistas en neurología investigando activamente tratamientos neurodegenerativos
• Posibles prescriptores de los candidatos a drogas de Annovis Bio
• Tomadores de decisiones clave en protocolos de tratamiento

Instituciones de atención médica

Número total de hospitales en Estados Unidos: 6.129 a partir de 2022.

Tipo de institución	Número	Compromiso potencial
Centros de tratamiento neurológico	1,200	Alto potencial para ensayos clínicos
Centros médicos académicos	155	Oportunidades de colaboración de investigación

Universidades de investigación y centros académicos

Total de universidades de investigación en Estados Unidos: 4.360 a partir de 2023.

• Posibles socios de colaboración de investigación
• Fuentes de financiación potenciales
• Lugares para el reclutamiento de ensayos clínicos

Partes interesadas de la industria farmacéutica

Tamaño del mercado farmacéutico global: $ 1.48 billones en 2022.

Categoría de partes interesadas	Número	Interacción potencial
Principales compañías farmacéuticas	25	Posibles objetivos de licencia o adquisición
Empresas de biotecnología	2,100	Posentes asociaciones de investigación

Annovis Bio, Inc. (ANVS) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal que finalizó el 31 de diciembre de 2022, Annovis Bio informó gastos de investigación y desarrollo de $ 13.9 millones. Los costos de I + D de la compañía se centran principalmente en el desarrollo de tratamientos para enfermedades neurodegenerativas.

Año fiscal	Gastos de I + D
2021	$ 11.2 millones
2022	$ 13.9 millones

Costos de gestión de ensayos clínicos

Los gastos de ensayo clínico de Annovis Bio para 2022 fueron de aproximadamente $ 8,5 millones. Estos costos incluyen:

• Reclutamiento de pacientes
• Gestión del sitio de prueba
• Recopilación y análisis de datos
• Monitoreo regulatorio

Protección de propiedad intelectual

La compañía gastó $ 0.7 millones en protección de la propiedad intelectual en 2022, cubriendo la presentación de patentes, el mantenimiento y los honorarios legales relacionados con sus candidatos a drogas propietarios.

Gastos de cumplimiento regulatorio

Los costos de cumplimiento regulatorio para Annovis Bio en 2022 totalizaron aproximadamente $ 1.2 millones, que incluyen:

• Preparaciones de presentación de la FDA
• Documentación de cumplimiento
• Consulta regulatoria

Sobrecarga administrativa y operativa

Los gastos administrativos y operativos para el año fiscal 2022 fueron de $ 5.6 millones, que se rompieron de la siguiente manera:

Categoría de gastos	Cantidad
Salarios y beneficios	$ 3.8 millones
Gastos de oficina	$ 0.9 millones
Servicios profesionales	$ 0.9 millones

Estructura de costos totales para 2022: $ 29.9 millones

Annovis Bio, Inc. (ANVS) - Modelo de negocios: flujos de ingresos

Acuerdos potenciales de licencia de medicamentos futuros

A partir del cuarto trimestre de 2023, Annovis Bio aún no ha informado ningún acuerdos activos de licencia de medicamentos. El candidato principal de drogas de la compañía ANVS401 permanece en la fase de desarrollo clínico.

Subvenciones de investigación y financiación

Año	Fuente de subvenciones	Cantidad
2023	Institutos Nacionales de Salud (NIH)	$ 1.2 millones
2022	Asociación de Alzheimer	$750,000

Venta potencial de productos farmacéuticos

No se informaron ventas de productos comerciales a partir de 2024, con ANVS401 todavía en ensayos clínicos.

Asociaciones de investigación colaborativa

• Colaboración de investigación de neurociencia de la Universidad de Pensilvania
• Asociación de ensayos clínicos del Hospital Mount Sinai

Monetización de la propiedad intelectual

Annovis bio sostiene 5 patentes activas relacionado con el desarrollo de fármacos neurológicos ANVS401.

Categoría de patente	Número de patentes	Valoración potencial
Tratamiento neurodegenerativo	3	Estimado $ 15-20 millones
Composición de drogas	2	Estimado $ 10-12 millones

Annovis Bio, Inc. (ANVS) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Annovis Bio, Inc.'s buntanetap stands out in the neurodegenerative space. It's not just another drug; it's built around a specific mechanism that addresses complexity in diseases like Alzheimer's and Parkinson's.

Potential disease-modifying treatment for Alzheimer's and Parkinson's

The value proposition here is moving beyond just managing symptoms to potentially altering the disease course itself. The ongoing pivotal Phase 3 study in early Alzheimer's disease (AD) (NCT06709014) is designed to test this over an 18-month period for disease modification, following an initial 6-month symptomatic readout. As of November 2025, all 84 clinical sites across the U.S. are fully activated and enrolling participants, with the first group of patients having completed that initial 6-month treatment milestone. This AD trial aims to enroll a total of 760 patients with biomarker-confirmed amyloid pathology. For Parkinson's disease (PD), Phase 3 data showed buntanetap halted cognitive decline across the overall patient population. Specifically, approximately 25% of the PD participants who exhibited amyloid co-pathology and had experienced accelerated cognitive decline saw that decline counteracted and reversed by buntanetap.

Orally available drug, offering easier patient administration than infusions

Buntanetap is an oral molecule, which is a significant administrative advantage over treatments requiring intravenous (IV) infusions. This oral dosing simplifies patient adherence and reduces the burden associated with frequent clinic visits for infusions. The company has also advanced its formulation, publishing pharmacokinetic (PK) data for a new crystalline buntanetap form, securing intellectual property protection for this form through 2046.

Targets multiple neurotoxic proteins, a holistic approach to neurodegeneration

The science behind buntanetap suggests it addresses the multifactorial nature of these diseases by targeting several toxic pathways simultaneously. This is supported by biomarker data from the Phase 2/3 AD study showing measurable biological activity. The treatment group showed reductions versus placebo in several inflammatory markers known to drive pathology, including IL-5, IL-6, S100A12, IFN-γ, and IGF1R. Furthermore, buntanetap decreased levels of NFL, a protein fragment released from damaged neurons, indicating improved cellular integrity. This multi-target approach is positioned as necessary for meaningful progress, as targeting just one cause has historically yielded limited benefit.

Favorable safety profile (no ARIA reported to date) compared to competitors

The safety profile has been a consistent point of emphasis. In a previous Phase 2/3 study, the safety profile was consistent with prior trials, with comparable numbers of Adverse Events (AEs) between treatment and placebo groups. The majority of reported AEs were mild to moderate in severity, and critically, no serious AEs were related to buntanetap. This positive safety assessment was reinforced when the FDA raised no concerns regarding the Company's data on safety, including liver enzymes and drug interactions, during the End-of-Phase 2 meeting in October 2024.

The investment required to deliver these value propositions is substantial, as reflected in recent financials. For the three months ending September 30, 2025, Research and Development expenses were $6.3 million, up from $2.7 million in the same quarter of 2024, driven by the Phase 3 activity. The company reported cash and cash equivalents of $15.3 million as of September 30, 2025, which, combined with recent offerings totaling $9.4 million ($6.0 million and $3.4 million offerings in October), was projected to fund operations into Q3 2026.

Value Proposition Metric	Data Point	Context/Trial
Oral Dosing	Oral molecule	Buntanetap formulation
IP Security End Date	2046	New crystalline form patent transfer
AD Phase 3 Sites Activated	84	Pivotal Phase 3 AD Study (NCT06709014)
AD Phase 3 Enrollment Target	760 patients	Early AD with biomarker-confirmed amyloid pathology
PD Study Subpopulation with Co-pathology	Approximately 25%	Exhibited accelerated decline reversed by buntanetap
Reported Inflammatory Markers Reduced (AD)	5 (IL-5, IL-6, S100A12, IFN-γ, IGF1R)	Phase 2/3 AD Study Biomarker Analysis
Reported Safety Events	No serious AEs related to buntanetap	Prior Phase 2/3 Study Data

You can see the commitment in the Q3 2025 R&D spend of $6.3 million, which is more than double the $2.7 million spent in Q3 2024. Finance: draft 13-week cash view by Friday.

Annovis Bio, Inc. (ANVS) - Canvas Business Model: Customer Relationships

High-touch coordination with clinical trial investigators and site staff

• The pivotal Phase 3 Alzheimer's disease (AD) study has 84 secured clinical sites across the U.S. fully activated and enrolling/treating patients as of November 2025.
• The Phase 3 AD trial is designed to enroll a total of 760 patients.
• As of August 12, 2025, 76 U.S. sites were secured for the AD trial, with 46 currently enrolling.
• The earliest enrollees in the AD Phase 3 trial reached the 6-month treatment milestone as of November 6, 2025.
• The AD Phase 3 study was reported as 25% complete as of November 6, 2025.
• A planned Parkinson's disease (PD) Open Label Extension study is anticipated to include between 500 and 700 patients.
• Previous PD studies involved a 4,500 patient study.
• The AD Phase 2/3 study previously involved 350 patients.

Direct engagement with investors via webcasts and scientific presentations

Annovis Bio, Inc. held specific direct engagement events with investors and the patient community throughout 2025:

Engagement Type	Date(s) in 2025	Key Presenter/Focus
Patients' Live Forum Webcast	February 27	CEO Maria Maccecchini, Ph.D., answering patient/caregiver questions
Webinar and Live Q&A	June 24	CEO provided updates on Phase 3 AD trial and PD program
Corporate Updates/Financial Results Webcast	August 12 (Q2 2025 Results)	Corporate updates and financial performance review

Direct engagement also included providing updates on the Q3 2025 Financial Results on November 12, 2025.

Regulatory relationship management with the U.S. FDA

The relationship management with the U.S. FDA has been characterized by formal meetings and protocol alignment:

• The FDA accepted an updated protocol for the pivotal Phase 3 AD study, which was slated to begin in January 2025.
• The ongoing Phase 3 AD study is proceeding with full FDA alignment on design, endpoints, and patient population, following an End-of-Phase-2 interaction in 2024.
• The AD study design is positioned to potentially support two New Drug Application (NDA) filings.
• The FDA has scheduled a Type C meeting for January 2026 to discuss the development pathway for buntanetap in Parkinson's disease dementia (PDD).

Scientific communication through peer-reviewed publications and conferences

Annovis Bio, Inc. presented scientific data at major neurology conferences in 2025:

• Presented four scientific posters at the Alzheimer's Association International Conference (AAIC) 2025 in Toronto (July 27-31, 2025).
• Participated in the AD/PD™ 2025 conference (April 1-5 in Vienna) with two presentations and one forum discussion.
• Announced two presentations at the Clinical Trials on Alzheimer's Disease (CTAD) conference (December 1-4, 2025 in San Diego).
• One CTAD presentation focused on the Double 6/18-month Phase 3 study for Alzheimer's disease.

The company reported new biomarker data linking amyloid co-pathology to cognitive decline in Parkinson's patients on November 17, 2025.

Annovis Bio, Inc. (ANVS) - Canvas Business Model: Channels

You're looking at how Annovis Bio, Inc. gets its data, its story, and eventually, its drug, to the right people. Right now, it's all about clinical execution and investor communication, since they're still in late-stage trials.

U.S. clinical trial network for patient recruitment and drug delivery

The primary channel for Annovis Bio, Inc. right now is the operational network supporting the pivotal Phase 3 study for buntanetap in early Alzheimer's disease (AD). This network is the conduit for drug delivery to trial participants and the collection of critical clinical data.

The Phase 3 Alzheimer's trial (NCT06709014) is designed to enroll a total of 760 patients with biomarker-confirmed amyloid pathology. As of November 6, 2025, all 84 sites across the U.S. are fully activated and enrolling participants. This milestone means the trial is 25% complete toward the total enrollment target.

Here's a snapshot of the trial structure and progress as of late 2025:

Metric	Value/Status	Date/Context
Total Phase 3 AD Enrollment Target	760 patients	Pivotal Study
Fully Activated U.S. Sites	84 sites	As of November 6, 2025
Trial Completion Percentage	25% complete	As of November 6, 2025
First Treatment Milestone	Completed 6-month treatment period	Reported November 2025
Symptomatic Data Readout Target	H2 2026	6-month assessment
Disease-Modifying Assessment Target	18-month follow-up	Follows 6-month readout
Patients Treated (Q2 2025)	38 subjects	As of August 12, 2025

The company also utilizes its clinical sites to gather data for its Parkinson's disease program, with Phase 3 PD trial data presented earlier in 2025.

Scientific and medical conferences (e.g., CTAD, AAIC) for data dissemination

Annovis Bio, Inc. uses major scientific and medical conferences as a primary channel to disseminate clinical data to the scientific community, clinicians, and researchers. This is crucial for building credibility and informing future development paths.

Key conference engagements in 2025 included:

• Attended AAIC 2025 in Toronto (July 27-31, 2025).
• Presented four scientific posters at AAIC 2025.
• Presented at AD/PD™ 2025 in Vienna (April 1-5).
• Announced two presentations at CTAD 2025 in San Diego (December 1-4, 2025).

The CTAD 2025 presentations included data on the Phase 3 study for Alzheimer's disease and biomarker data for Parkinson's disease dementia patients.

Investor Relations (IR) channels for public disclosures and financing

For financial disclosures and capital raising, Annovis Bio, Inc. relies on formal SEC filings, press releases distributed via wire services, and direct engagement with the investment community through webcasts and investor materials. The company's IP protection is a key asset communicated through these channels.

Financial and corporate data points as of late 2025:

Financial Metric	Amount/Value	Date/Context
Cash and Cash Equivalents	$15.3 million	September 30, 2025
Cash and Cash Equivalents	$17.1 million	June 30, 2025
Cash and Cash Equivalents	$22.2 million	March 31, 2025
Shares Outstanding	20.2 million	September 30, 2025
Q3 2025 R&D Expense	$6.3 million	Three months ending Sept 30, 2025
Q3 2025 G&A Expense	$1.1 million	Three months ending Sept 30, 2025
Q3 2025 Diluted Net Loss Per Share	$0.37	Three months ending Sept 30, 2025
Accumulated Deficit	$153.9 million	As of Q3 2025
Financing Proceeds (October 2025)	$6.0 million and $3.4 million	Two Registered Direct Offerings
Projected Funding Runway	To Q3 2026	Based on Sept 30, 2025 cash
IP Protection Expiration (Crystal Buntanetap)	Through 2046	New crystal form patents

The company directs investors to its website, www.AnnovisBio.com, and social channels like LinkedIn, X, and YouTube for updates. Email alerts are available at https://www.annovisbio.com/email-alerts.

Specialty pharmacies and distributors (future commercial channel)

As Annovis Bio, Inc. remains in late-stage clinical development, the formal channel for drug distribution via specialty pharmacies and distributors is not yet active. This channel is contingent upon successful completion of the Phase 3 trials and subsequent New Drug Application (NDA) submission and approval. The symptomatic readout is targeted for H2 2026, which would precede commercial launch planning.

Annovis Bio, Inc. (ANVS) - Canvas Business Model: Customer Segments

You're looking at the core groups Annovis Bio, Inc. (ANVS) targets with buntanetap, which is a critical view before we even touch on how they plan to make money. Honestly, for a late-stage biotech, the customer segments are laser-focused on the clinical and financial gatekeepers.

Patients with early Alzheimer's Disease (AD) and biomarker-confirmed pathology

This segment represents the primary indication for the pivotal Phase 3 trial. The patient pool is substantial, though Annovis Bio, Inc. is specifically targeting the early stage, which is where their biomarker data suggests the greatest impact. The company's Phase 3 AD clinical trial is fully activated across 84 U.S. clinical sites as of late 2025. This focus is on patients whose pathology can be confirmed, likely including those with the ApoE4 carrier status mentioned in prior studies.

Here are some relevant population statistics for context:

• Americans currently living with Alzheimer's Disease: 6.9M
• Projected Americans to be diagnosed with Alzheimer's by 2060: 2X the current number
• Historical success rate for developing new Alzheimer's treatments: 2%

Patients with Parkinson's Disease (PD), especially those with cognitive decline

This segment is important because Annovis Bio, Inc. is demonstrating that PD cognitive decline often overlaps with AD pathology. The data suggests a strong response in PD patients who also have this co-pathology. The company is also preparing for a Type C meeting with the FDA in January 2026 to discuss the development pathway for Parkinson's disease dementia (PDD), a serious complication within this group.

The scope of this patient group and its complication is significant:

PD Patient Metric	Number/Percentage	Source Context
Americans living with Parkinson's Disease	1M	Current prevalence data.
Projected Americans with PD by 2030	1.2M	Near-term projection.
PD Patients developing Dementia (PDD)	Approximately 30%	Target for the PDD program.
PD Patients potentially developing Dementia (Long-term)	Up to 80%	Long-term risk profile.
PD Phase 3 Study Participants with Amyloid Co-pathology	Approximately 25%	Observed in the Phase 3 PD trial.

Neurologists and specialists treating neurodegenerative disorders

These are the prescribers and key opinion leaders (KOLs) who validate the clinical data and ultimately recommend the therapy. Their segment is reached through scientific presentations, such as those at the CTAD 2025 conference, where Annovis Bio, Inc. presented on both its AD and PD programs. The company is focused on convincing this group that buntanetap offers a disease-modifying potential by reducing neuroinflammation and neurodegeneration markers like pTau217, total tau, and brain-derived tau.

Engagement points for this segment include:

• Presentations at CTAD 2025 conference (December 1-4, 2025)
• Discussions on novel therapeutic and biomarker strategies for PD and related disorders
• Data supporting reductions in neuroinflammation and neurodegeneration markers

Institutional investors and biotech-focused venture capital firms

This group provides the necessary capital to fund the late-stage clinical trials and operations. You need to keep them informed on cash runway and R&D spend. As of September 30, 2025, Annovis Bio, Inc. reported cash and cash equivalents of $15.3M, which, along with recent offerings, was stated to fund operations through Q3 2026. Research and development expenses for Q3 2025 were $6.3M. The company had 20.2M shares of common stock outstanding as of that date.

The institutional landscape as of late 2025 shows active management:

Investor Group Metric	Value as of Q3 2025	Key Holders Mentioned
Total Institutional Owners Filing Forms	51	Vanguard Group Inc., Geode Capital Management, Llc
Total Institutional Shares Reported (13F, Q3 2025)	2,022,566	Susquehanna International Group, Llp, Citadel Advisors Llc
Stock Price (as of Nov 21, 2025)	$3.79 / share	BlackRock, Inc. held 80,675 shares as of 9/30/2025

The basic and diluted net loss per common share for the three months ending September 30, 2025, was $0.37. Finance: draft 13-week cash view by Friday.

Annovis Bio, Inc. (ANVS) - Canvas Business Model: Cost Structure

You're looking at the core spending that fuels Annovis Bio, Inc.'s late-stage development, which is heavily weighted toward clinical execution and securing the future of buntanetap. For a clinical-stage biotech, the cost structure is almost entirely operational burn, centered on the drug trials.

The most significant cost driver is Research and Development (R&D), which reflects the intensive work of advancing the pivotal Phase 3 Alzheimer's disease trial. For the three months ended September 30, 2025, Annovis Bio, Inc. reported R&D expenses of $6.3 million. This figure is up significantly from $2.7 million in the same period in 2024, showing the ramp-up in trial activity.

General and Administrative (G&A) expenses are the next major component, covering overhead, executive salaries, and corporate functions. In Q3 2025, G&A expenses totaled $1.1 million, a decrease from $1.7 million reported in Q3 2024. This reduction in administrative spend, while R&D surged, suggests a focus on operational efficiency to preserve cash.

Here's a quick look at the key quarterly expense categories for Annovis Bio, Inc. for the third quarter of 2025:

Cost Category	Amount (Three Months Ended Sept 30, 2025)
Research and Development (R&D) Expenses	$6.3 million
General and Administrative (G&A) Expenses	$1.1 million
Total Reported Operating Expenses (R&D + G&A)	$7.4 million

Clinical trial expenses are embedded within the R&D figure, but the scale of the operation gives you a sense of the magnitude of these costs. You should know that the pivotal Phase 3 Alzheimer's disease trial has reached full activation across 84 U.S. sites as of late 2025. These sites drive costs related to site activation, patient recruitment, drug administration, and ongoing patient monitoring, all critical for generating reliable data.

Protecting the intellectual property (IP) is a non-negotiable, albeit less visible, cost. Annovis Bio, Inc. has been actively managing this, having completed the transfer of all patent families for the new crystalline form of buntanetap. This action secures global IP protection through the year 2046. These costs include:

• Patent maintenance fees for international filings.
• Legal fees associated with IP prosecution and defense.
• Costs related to the transfer and formalization of the new crystalline form patents.

The company's cash position as of September 30, 2025, stood at $15.3 million, which, following October financing activities, management indicated was sufficient to fund operations into the third quarter of 2026. The burn rate implied by the Q3 operating expenses, coupled with other non-cash items, dictates the runway you need to track closely.

Finance: draft 13-week cash view by Friday.

Annovis Bio, Inc. (ANVS) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Annovis Bio, Inc. (ANVS) as of late 2025. Since the company is deep in clinical development, the revenue profile is entirely focused on non-product sources right now, with the big money sitting in the future, contingent on regulatory success.

Current revenue is $0.00 from product sales, which is absolutely typical for a clinical-stage firm like Annovis Bio, Inc. They are not selling any commercialized drugs yet; all resources are directed toward advancing buntanetap through its pivotal trials.

The primary current cash inflow comes from financing activities, essentially selling ownership stakes to fund the expensive clinical work. You can see the recent capital raises below:

Financing Event	Date Announced/Closed	Gross Proceeds Amount	Per Share Price
Registered Direct Offering	October 2025 (Closed Oct 15, 2025)	$6.0 million	$1.50 per share
Registered Direct Offering	October 2025 (Closed Oct 28, 2025 est.)	$3.4 million	$2.05 per share
Total October 2025 Offerings	October 2025	$9.4 million	N/A
Public Offering	February 2025	$21 million	N/A

The combined gross proceeds from the October 2025 offerings totaled $9.4 million. Remember, these are gross figures; placement agent fees and expenses will reduce the net cash received. As of September 30, 2025, the cash balance was $15.3 million, which incorporated these October funds. Honestly, this cash runway is what keeps the lights on until the next data readout.

Future revenue streams are entirely potential, tied to the success of buntanetap in the clinic. These are the non-dilutive possibilities that analysts watch closely:

• Future potential milestone payments from any in-licensing or collaboration agreements that Annovis Bio, Inc. might secure.
• Royalties or product sales revenue following potential regulatory approval (NDA submission) for buntanetap in Alzheimer's disease (AD) or Parkinson's disease (PD).
• Potential payments related to the new crystalline form of buntanetap patents secured through 2046.

The near-term focus is on the pivotal Phase 3 AD trial, which is aiming for symptomatic data in the second half of 2026, the final step before an NDA submission. That readout is the trigger for any serious discussions about milestone payments or future commercialization revenue sharing.

To be fair, the specific dollar amounts for future milestone payments or royalty percentages are not public information at this stage; they are locked away in potential future agreements. What this estimate hides is the risk that these future streams never materialize if the drug fails to meet its primary endpoints.

Finance: draft 13-week cash view by Friday.