Annovis Bio Inc 2025年度报告

Securities registered pursuant to Section12(g)of the Act: None. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act. Yes☐No☒ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to suchfiling requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405of Regulation S-T (§ 232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submitsuch files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oran emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerginggrowth company” in Rule12b-2 of the Exchange Act. Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internalcontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm thatprepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included inthe filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of June30, 2025, the last business day of the registrant’s most recently completed second fiscal quarter, the aggregate market value of theregistrant’s common stock held by non-affiliates of the registrant was $36,076,450 based on the closing sale price as reported on the NYSE. The number of shares of the issuer’s common stock outstanding as of March 12, 2026, was 28,355,262. Documents Incorporated by Reference Certain portions, as expressly described in this report, of the registrant’s proxy statement for the 2026 Annual Meeting of the Stockholders areincorporated by reference into PartIII of this Annual Report on Form10-K. TABLE OF CONTENTS PageCautionary Note Regarding Forward-Looking Statements.2Summary of Risk Factors.3Part I.5Item 1.Business.5Item1A.Risk Factors.30Item1B.Unresolved Staff Comments.79Item1C.Cybersecurity.79Item 2.Properties.80Item 3.Legal Proceedings.80Item 4.Mine Safety Disclosures.80Part II.81Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities.81Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations.81Item 7A.Quantitative and Qualitative Disclosures About Market Risk.92Item 8.Financial Statements and Supplementary Data.92Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.93Item 9A. Controls and Procedures.93Item 9B. Other Information.93Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.93Part III.94Item 10.Directors, Executive Officers and Corporate Governance.94Item 11.Executive Compensation.94Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.94Item 13.Certain Relationships and Related Transactions and Director Independence.94Item 14.Principal Accountant Fees and Services.94Part IV.95Item 15.Exhibits and Financial Statement Schedules.95Item 16.Form 10-K Summary.96Index to Financial Statements.F-1Signatures.98 Cautionary NoteRegarding Forward-Looking Statements. This Annual Report on Form10-K contains express or implied forward-looking statements, within themeaning of the U.S. Private Securities Litigation Reform Act of 1995, that involve substantial risks and uncertainties.In some cases, you can identify forward-looking statements by the words “anticipate,” “believe,” “continue,” “could,”“estimate,” “expect,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “predict,” “project,” “potential,”“should,” “will,” or “would,” and / or the negative of these terms, or other comparable terminology intended toidentify statements about the future. These statements involve known and unknown risks, uncertainties and otherfactors that may cause our actual results, levels of activity, performance or achievements to be materially di