Why Annovis Bio (ANVS) Stock Hit A New 52-Week Low Today

Annovis Bio Inc ANVS shares are trading lower by 17.9% to $6.69 Tuesday morning after the company announced a public offering of 1.25 million units, each consisting of one common stock share and one warrant to purchase an additional common stock share.

The combined price for each unit is $6.00, with an expected gross proceeds of approximately $7.5 million, subject to deductions for expenses.

The offering is set to close around November 2, with Canaccord Genuity serving as the primary bookrunner.

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According to data from Benzinga Pro, ANVS has a 52-week high of $23.89 and a 52-week low of $7.40.