Annovis Bio (ANVS) Secures NYSE Compliance Extension for 18 Months

Annovis Bio (ANVS) has secured an NYSE compliance extension to meet continuous listing requirements. The NYSE has granted an 18-month timeframe to address minimum market capitalization and stockholders' equity standards. Based on analyst forecasts, the average target price for ANVS is $18.75, indicating a 594.44% upside from the current price. The average brokerage recommendation is 2.3, indicating an "Outperform" status.

Annovis Bio (ANVS) has secured an NYSE compliance extension to meet continuous listing requirements. The NYSE has granted an 18-month timeframe to address minimum market capitalization and stockholders' equity standards [1].

Based on analyst forecasts, the average target price for ANVS is $18.75, indicating a 594.44% upside from the current price of $2.70 [1]. The average brokerage recommendation is 2.3, indicating an "Outperform" status [1].

The company, focused on developing therapies for neurodegenerative diseases such as Alzheimer's and Parkinson's, has been granted an 18-month period to meet compliance requirements [2]. During this period, Annovis is required to provide quarterly updates on its progress [2]. The company anticipates that its stock will remain listed as long as it adheres to the plan and meets other listing requirements, though this notification does not impact its business operations or SEC reporting obligations [2].

The acceptance from the NYSE demonstrates recognition of Annovis Bio's efforts and potential for future growth in the biotechnology sector focused on neurodegenerative diseases [2].

References:
[1] https://www.gurufocus.com/news/2935717/annovis-bio-anvs-gains-nyse-compliance-extension-anvs-stock-news
[2] https://www.nasdaq.com/articles/annovis-bio-inc-receives-nyse-acceptance-compliance-plan-regain-listing-standards