Annovis Bio Announces Proposed Equity and Warrant Offering; Shares Slide After Hours
Annovis Bio Inc. said it plans an underwritten offering of common stock and warrants, prompting a 24.3% decline in its shares during after-hours trading on Tuesday. The company intends to issue shares and warrants separately but only sell them together, with Canaccord Genuity named as sole bookrunner. Net proceeds are slated to fund continued Phase…