Annovis Bio is a late-stage clinical biotech company with a single drug candidate, buntanetap, targeting Alzheimer's disease and Parkinson's disease. Buntanetap is an oral, small-molecule drug designed to reduce the production of multiple neurotoxic proteins — APP, tau, α-Synuclein, and TDP43 — that accumulate in the brains of AD and PD patients. Annovis argues that simultaneously targeting multiple proteins, rather than one, is required to slow or reverse nerve cell damage — a thesis grounded in the repeated failure of single-target approaches like anti-amyloid drugs. Annovis has no approved products and no revenue; the company funds operations through equity issuance. If buntanetap is approved, Annovis plans to commercialize through a partnership with a larger pharma company rather than building its own sales force. The pivotal study is an ongoing Phase 3 AD trial enrolling 760 early AD patients across 83 U.S. sites, with a 6-month efficacy readout expected in the second half of 2026 — potentially supporting an NDA filing — and an 18-month disease-modification readout expected in the second half of 2027. Annovis also has an ongoing open-label extension PD study enrolling 500 patients over 36 months to generate long-term safety data for a future PD NDA. The prior Phase 3 PD and Phase 2/3 AD trials did not meet co-primary endpoints in the full study populations, though both showed signals in subgroups, leaving the ongoing Phase 3 AD trial as the critical test of buntanetap's efficacy.