Why Annovis Bio, Tonix Pharma Are Trading Higher Today

Annovis Bio ANVS shares were trading higher Thursday after the company announced the European Patent Office granted the company's patent for a method of treating acute nerve and brain injuries by administering ANVS405 after an injury.

Annovis Bio is a clinical stage pharmaceutical company focused on developing and commercializing drugs for the treatment of Parkinson's and Alzheimer's diseases and other neuro degenerative diseases. The pipeline products of the company include ANVS-401, ANVS-405 and ANVS-301.

See also: Best Pharma ETFs

Annovis Bio shares were trading up 24.16% at $22.56 Thursday. The stock has a 52-week high of $35 and low of $2.42.

Tonix Pharmaceuticals TNXP shares are trading higher on chatter surrounding a "Notice of Allowance Mailed" status update on one of its patents.

It could also be trading higher in sympathy with Cassava Sciences on interim results from its trial on simufilam.

Tonix Pharmaceuticals Holding Corp. is a clinical-stage pharmaceutical company. The company is engaged in discovering, licensing, acquiring and developing drugs and biologics to treat and prevent human disease and alleviate suffering. Its portfolio includes biologics to prevent infectious diseases and small molecules and biologics to treat pain, psychiatric and addiction conditions.

See also: How to Buy Sundial Growers (SNDL) Stock

Tonix Pharmaceuticals shares were trading up 5% at $1.26. The stock has a 52-week high of $2.46 and low of 39 cents.