<SEC-DOCUMENT>0001104659-23-040298.txt : 20230331
<SEC-HEADER>0001104659-23-040298.hdr.sgml : 20230331
<ACCEPTANCE-DATETIME>20230331172121
ACCESSION NUMBER:		0001104659-23-040298
CONFORMED SUBMISSION TYPE:	424B5
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20230331
DATE AS OF CHANGE:		20230331

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Annovis Bio, Inc.
		CENTRAL INDEX KEY:			0001477845
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				262540421
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B5
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-252625
		FILM NUMBER:		23789249

	BUSINESS ADDRESS:	
		STREET 1:		1055 WESTLAKES DRIVE, SUITE 300
		CITY:			BERWYN
		STATE:			PA
		ZIP:			19312
		BUSINESS PHONE:		610-727-3913

	MAIL ADDRESS:	
		STREET 1:		1055 WESTLAKES DRIVE, SUITE 300
		CITY:			BERWYN
		STATE:			PA
		ZIP:			19312

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	QR Pharma, Inc.
		DATE OF NAME CHANGE:	20091202
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B5
<SEQUENCE>1
<FILENAME>tm2310905d1_424b5.htm
<DESCRIPTION>424B5
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Filed Pursuant
to Rule&nbsp;424(b)(5)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Registration No.&nbsp;333-252625</B></FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><U>P R O S P E C T U S &#8239;&#8239;S U P P L E M
E N T</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Up to $50,000,000</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: Red"></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;<IMG SRC="tm2310905d1_424b5img001.jpg" ALT=""></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-left: auto; margin-right: auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We have entered
into a sales agreement with BofA Securities,&nbsp;Inc. and ThinkEquity LLC, as Sales Agents, relating to the sale of our common stock
offered by this prospectus supplement and the accompanying prospectus. In accordance with the terms of the sales agreement, we may offer
and sell our common stock, par value $0.0001 per share, having an aggregate offering price of up to $50,000,000 from time to time through
the Sales Agents.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Sales of shares
of our common stock under this prospectus supplement and the accompanying prospectus, if any, may be made by any method deemed to be
an &ldquo;at the market offering&rdquo; as defined in Rule&nbsp;415(a)(4)&nbsp;promulgated under the Securities Act of 1933, as amended
(the &ldquo;Securities Act&rdquo;), including block trades and sales made in ordinary brokers&rsquo; transactions on the New York Stock
Exchange or otherwise at market prices prevailing at the time of the sale, at prices related to prevailing market prices or at negotiated
prices and block trades. The Sales Agents are not required to sell any specific number or dollar amount of shares of our common stock.
Each of the Sales Agents has agreed to use its commercially reasonable efforts to sell on our behalf all of the shares of common stock
requested to be sold by us, consistent with its normal trading and sales practices, on mutually agreed terms among the Sales Agents and
us. There is no arrangement for funds to be received in any escrow, trust or similar arrangement. We also may sell shares to each of
the Sales Agents as principal for their own accounts, at a price agreed upon at the time of sale. If we sell shares to the Sales Agents
as principal, we will enter into a separate terms agreement with the Sales Agents setting forth the terms of such transaction, and we
will describe this agreement in a separate pricing supplement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The Sales Agents
will be entitled to compensation under the terms of the sales agreement at a commission rate equal to 2.0% of the gross sales price per
share sold. In connection with the sale of common stock on our behalf, each of the Sales Agents will be deemed to be an &ldquo;underwriter&rdquo;
within the meaning of the Securities Act, and the compensation of the Sales Agents will be deemed to be underwriting commissions or discounts.
We have agreed to provide indemnification and contribution to the Sales Agents with respect to certain liabilities, including liabilities
under the Securities Act. See &ldquo;Plan of Distribution&rdquo; for additional information regarding compensation to be paid to the
Sales Agents.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The offering of
shares of our common stock pursuant to the sales agreement will terminate upon the earlier of (1)&nbsp;the sale of shares of our common
stock having an aggregate sales price of $50.0 million pursuant to the sales agreement or (2)&nbsp;the termination of the sales agreement
in accordance with its terms.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The net proceeds
from any sales under this prospectus supplement will be used as described under the section entitled &ldquo;Use of Proceeds.&rdquo; The
proceeds we receive from sales of our common stock, if any, will depend on the number of shares actually sold and the offering price
of such shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our common stock is traded on the New York Stock
Exchange under the symbol &ldquo;ANVS.&rdquo; On March 30, 2023, the last reported sale price of our common stock was $20.10 per share.
Our common stock has recently experienced extreme volatility in price and trading volume. From August&nbsp;1, 2022 to March&nbsp;30,
2023, the sale price of our common stock on the New York Stock Exchange ranged from as low as $9.84 to as high as $23.91 and daily trading
volume ranged from 5,000 shares to 768,700&#8239;shares. Investors that purchase shares of common stock in this offering may lose a
significant portion of their investments if the price of our common stock subsequently declines. Please see the section entitled &ldquo;Risk
Factors&rdquo; in this prospectus supplement, the accompanying prospectus, and in the documents that are incorporated by reference into
this prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We are an &ldquo;emerging
growth company&rdquo; and &ldquo;smaller reporting company&rdquo; under the federal securities laws and, as such, are subject to reduced
public company reporting requirements. See &ldquo;Prospectus Supplement Summary&mdash;Implications of Being an Emerging Growth Company
and Smaller Reporting Company.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>Investing in
our securities involves a high degree of risk. You should review carefully the risks and uncertainties described under the heading &ldquo;<U>Risk
Factors</U>&rdquo; beginning on page&nbsp;7 of this prospectus supplement, the accompanying prospectus, and under similar headings
in the other documents that are incorporated by reference into this prospectus supplement.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Neither
the Securities and </FONT><FONT STYLE="font-size: 10pt">Exchange Commission nor any state securities commission has approved or disapproved
of these securities or determined if this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal
offense.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: center; padding-left: 10pt; text-indent: -0.01pt; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BofA
  Securities</B></FONT></TD>
  <TD STYLE="text-align: center; padding-left: 10pt; text-indent: -0.01pt; width: 50%"><FONT STYLE="font-size: 10pt"><B>ThinkEquity</B></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">The date of this
prospectus supplement is March&nbsp;31, 2023.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>TABLE OF CONTENTS</B></FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>PROSPECTUS SUPPLEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
<TD STYLE="border-bottom: white 1pt solid; width: 91%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&#8203;</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 7%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Page </B></FONT></TD>
</TR>

<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.5in; padding-left: 0.5in"><A HREF="#a_001"><FONT STYLE="font-size: 10pt">ABOUT
    THIS PROSPECTUS SUPPLEMENT</FONT></A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_001"><FONT STYLE="font-size: 10pt">1</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.5in; padding-left: 0.5in"><A HREF="#a_002"><FONT STYLE="font-size: 10pt">PROSPECTUS
    SUPPLEMENT SUMMARY</FONT></A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_002"><FONT STYLE="font-size: 10pt">2</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.5in; padding-left: 0.5in"><A HREF="#a_003"><FONT STYLE="font-size: 10pt">THE
    OFFERING</FONT></A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_003"><FONT STYLE="font-size: 10pt">6</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.5in; padding-left: 0.5in"><A HREF="#a_004"><FONT STYLE="font-size: 10pt">RISK
    FACTORS</FONT></A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_004"><FONT STYLE="font-size: 10pt">7</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.5in; padding-left: 0.5in"><A HREF="#a_005"><FONT STYLE="font-size: 10pt">SPECIAL
    NOTE REGARDING FORWARD-LOOKING STATEMENTS</FONT></A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_005"><FONT STYLE="font-size: 10pt">9</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -0.5in; padding-left: 0.5in"><A HREF="#a_006"><FONT STYLE="font-size: 10pt">USE
    OF PROCEEDS</FONT></A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_006"><FONT STYLE="font-size: 10pt">10</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_007"><FONT STYLE="font-size: 10pt">DILUTION</FONT></A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_007"><FONT STYLE="font-size: 10pt">11</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -0.5in; padding-left: 0.5in"><A HREF="#a_008"><FONT STYLE="font-size: 10pt">PLAN
    OF DISTRIBUTION</FONT></A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_008"><FONT STYLE="font-size: 10pt">12</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.5in; padding-left: 0.5in"><A HREF="#a_009"><FONT STYLE="font-size: 10pt">LEGAL
    MATTERS</FONT></A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_009"><FONT STYLE="font-size: 10pt">14</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_010"><FONT STYLE="font-size: 10pt">EXPERTS</FONT></A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_010"><FONT STYLE="font-size: 10pt">14</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.5in; padding-left: 0.5in"><A HREF="#a_011"><FONT STYLE="font-size: 10pt">WHERE
    YOU CAN FIND ADDITIONAL INFORMATION; INCORPORATION BY REFERENCE</FONT></A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#a_011"><FONT STYLE="font-size: 10pt">14</FONT></A></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>PROSPECTUS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
<TD STYLE="font-size: 10pt; border-bottom: white 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&#8203;</B></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Page</B></FONT></TD>
</TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-size: 10pt; width: 91%"><FONT STYLE="font-size: 10pt"><A HREF="#A13">ABOUT THIS PROSPECTUS</A></FONT></TD>
    <TD STYLE="font-size: 10pt; width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right; width: 7%"><FONT STYLE="font-size: 10pt"><A HREF="#A13"><FONT STYLE="font-family: Times New Roman, Times, Serif">1</FONT></A></FONT></TD>
</TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><A HREF="#A14">FORWARD-LOOKING STATEMENTS</A></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt"><A HREF="#A14"><FONT STYLE="font-family: Times New Roman, Times, Serif">2</FONT></A></FONT></TD>
</TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><A HREF="#A15">THE COMPANY</A></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt"><A HREF="#A15"><FONT STYLE="font-family: Times New Roman, Times, Serif">3</FONT></A></FONT></TD>
</TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><A HREF="#A16">RISK FACTORS</A></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt"><A HREF="#A16"><FONT STYLE="font-family: Times New Roman, Times, Serif">4</FONT></A></FONT></TD>
</TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><A HREF="#A17">USE OF PROCEEDS</A></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt"><A HREF="#A17"><FONT STYLE="font-family: Times New Roman, Times, Serif">5</FONT></A></FONT></TD>
</TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><A HREF="#A18">GENERAL DESCRIPTION OF OUR SECURITIES</A></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt"><A HREF="#A18"><FONT STYLE="font-family: Times New Roman, Times, Serif">6</FONT></A></FONT></TD>
</TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><A HREF="#A19">DESCRIPTION OF OUR CAPITAL STOCK</A></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt"><A HREF="#A19"><FONT STYLE="font-family: Times New Roman, Times, Serif">7</FONT></A></FONT></TD>
</TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><A HREF="#A20">DESCRIPTION OF OUR WARRANTS</A></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt"><A HREF="#A20"><FONT STYLE="font-family: Times New Roman, Times, Serif">12</FONT></A></FONT></TD>
</TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><A HREF="#A21">DESCRIPTION OF OUR UNITS</A></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt"><A HREF="#A21"><FONT STYLE="font-family: Times New Roman, Times, Serif">13</FONT></A></FONT></TD>
</TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><A HREF="#A22">PLAN OF DISTRIBUTION</A></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt"><A HREF="#A22"><FONT STYLE="font-family: Times New Roman, Times, Serif">14</FONT></A></FONT></TD>
</TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><A HREF="#A23">LEGAL MATTERS</A></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt"><A HREF="#A23"><FONT STYLE="font-family: Times New Roman, Times, Serif">17</FONT></A></FONT></TD>
</TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><A HREF="#A24">EXPERTS</A></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt"><A HREF="#A24"><FONT STYLE="font-family: Times New Roman, Times, Serif">17</FONT></A></FONT></TD>
</TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><A HREF="#A25">WHERE YOU CAN FIND ADDITIONAL INFORMATION; INCORPORATION BY REFERENCE</A></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt"><A HREF="#A25"><FONT STYLE="font-family: Times New Roman, Times, Serif">17</FONT></A></FONT></TD>
</TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B><A NAME="a_001"></A>ABOUT
THIS PROSPECTUS SUPPLEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">This prospectus
supplement relates to part of a registration statement on Form&nbsp;S-3 that we have filed with the Securities and Exchange Commission
(the &ldquo;SEC&rdquo;), utilizing a &ldquo;shelf&rdquo; registration process. Under this shelf registration process, we may sell any
combination of the securities described in the accompanying prospectus included in the shelf registration statement in one or more offerings
up to a total aggregate offering price of $250,000,000. The $50,000,000 of common stock that may be offered, issued and sold under this
prospectus supplement is included in the $250,000,000 of securities that may be offered, issued and sold by us pursuant to our shelf
registration statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">This prospectus
supplement relates to the offering of our common stock. Before buying any of the common stock that we are offering, we urge you to carefully
read this prospectus supplement and the accompanying prospectus, together with the information incorporated by reference as described
under the heading &ldquo;Where You Can Find Additional Information; Incorporation by Reference&rdquo; in this prospectus supplement.
These documents contain important information that you should consider when making your investment decision.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We provide information
to you about this offering of shares of our common stock in two separate documents that are bound together: (1)&nbsp;this prospectus
supplement, which describes the specific details regarding this offering&#894; and (2)&nbsp;the accompanying prospectus, which provides
general information, some of which may not apply to this offering. Generally, when we refer to the &ldquo;prospectus,&rdquo; we are referring
to both documents combined. To the extent there is a conflict between the information contained in this prospectus supplement, on the
one hand, and the information contained in the accompanying prospectus or any document incorporated by reference into this prospectus
supplement that was filed with the SEC before the date of this prospectus supplement, on the other hand, you should rely on the information
in this prospectus supplement. If any statement in one of these documents is inconsistent with a statement in another document having
a later date (for example, a document incorporated by reference into this prospectus supplement), the statement in the document having
the later date modifies or supersedes the earlier statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We have not authorized
anyone to provide you with information that is different from that contained, or incorporated by reference, in this prospectus supplement,
accompanying prospectus or in any related free writing prospectus. We take no responsibility for, and can provide no assurance as to
the reliability of, any other information that others may give you. We are not, and the Sales Agents are not, making an offer to sell
these securities in any jurisdiction where the offer or sale is not permitted. You should assume that the information appearing in this
prospectus supplement, accompanying prospectus, the documents incorporated by reference in the prospectus supplement and accompanying
prospectus, and in any free writing prospectus that we have authorized for use in connection with this offering, is accurate only as
of the date of those respective documents. Our business, financial condition, results of operations and prospects may have changed since
those dates. You should read the prospectus supplement, the documents incorporated by reference in this prospectus supplement and accompanying
prospectus, and any free writing prospectus that we have authorized for use in connection with this offering, in their entirety before
making an investment decision.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">This prospectus
supplement and the information incorporated herein by reference contain summaries of certain provisions contained in some of the documents
described herein, but reference is made to the actual documents for complete information. All of the summaries are qualified in their
entirety by the actual documents. Copies of some of the documents referred to herein have been filed, will be filed or will be incorporated
by reference as exhibits to the registration statement of which this prospectus supplement is a part, and you may obtain copies of those
documents as described below under the heading &ldquo;Where You Can Find Additional Information; Incorporation by Reference.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">All other trademarks,
trade names and service marks referred to in this prospectus supplement and accompanying prospectus are the property of their respective
owners. Solely for convenience, the trademarks and trade names in this prospectus supplement and accompanying prospectus are referred
to without the symbols &reg; and TM, but such references should not be construed as any indication that their respective owners will
not assert, to the fullest extent under applicable law, their rights thereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B><A NAME="a_002"></A>PROSPECTUS
SUPPLEMENT SUMMARY</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><I>This summary
highlights selected information that is presented in greater detail elsewhere, or incorporated by reference, in this prospectus supplement.
It does not contain all of the information that may be important to you and your investment decision. Before investing in our securities,
you should carefully read the entire prospectus supplement, including the matters set forth under the section of this prospectus supplement
captioned &ldquo;Risk Factors&rdquo; and the financial statements and related notes and other information that we incorporate by reference
herein, including our Annual Report on Form&nbsp;10-K and our Quarterly Reports on Form&nbsp;10-Q. Unless the context indicates otherwise,
references in prospectus supplement to &ldquo;Annovis Bio,&nbsp;Inc.,&rdquo; &ldquo;we,&rdquo; &ldquo;our&rdquo; and &ldquo;us&rdquo;
refer to Annovis Bio,&nbsp;Inc., a Delaware corporation.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Company Overview</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Annovis Bio,&nbsp;Inc.
is a clinical stage, drug platform company addressing neurodegeneration, such as Alzheimer&rsquo;s disease (&ldquo;AD&rdquo;) and Parkinson&rsquo;s
disease (&ldquo;PD&rdquo;). We are developing our lead product candidate, Buntanetap, which is designed to address AD, PD, and potentially
other chronic neurodegenerative diseases. Buntanetap is a synthetically produced small molecule, orally administered, brain penetrant
compound. In several studies, Buntanetap was observed to inhibit the synthesis of neurotoxic proteins&mdash;APP/A&beta; (&ldquo;APP&rdquo;),
tau/phospho-tau (&ldquo;tau&rdquo;) and &alpha;-Synuclein (&ldquo;&alpha;SYN&rdquo;)&mdash;that are one of the main causes of neurodegeneration.
High levels of neurotoxic proteins lead to impaired axonal transport, which is responsible for the communication between and within nerve
cells. When that communication is impaired, the immune system is activated and attacks the nerve cells, eventually killing them. We have
observed in our clinical studies in early AD and early PD patients and pre-clinical studies in mice and rats that Buntanetap lowered
neurotoxic protein levels leading to improved axonal transport, reduced inflammation, lower nerve cell death and improved affected function.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2021, we completed two Phase 1/2 clinical studies: one in 14 early AD patients, and one in 54 early PD patients (together, the &ldquo;AD/PD
Trials&rdquo;). </FONT><FONT STYLE="font-size: 10pt">In the AD/PD Trials, early AD patients were defined as those with a Mini Mental
State Examination (MMSE) score between 19 and 28 and early PD patients as those patients at Hoehn&nbsp;&amp; Yahr stages 1, 2 or 3. MMSE
is a brief screening instrument used to assess cognitive function, with total scores ranging from 0 to 30 and a lower score indicating
greater disease severity, while the Hoehn&nbsp;&amp; Yahr scale is a medical assessment used to measure staging of the functional disability
associated with PD where a higher stage indicates greater disease severity. In collaboration with the Alzheimer&rsquo;s Disease Cooperative
Study (&ldquo;ADCS&rdquo;), we also conducted a trial in 16 early AD patients (the &ldquo;ADCS Trial&rdquo;). In the ADCS Trial, early
AD patients were defined as those patients with a MMSE score between 19 and 28. All three clinical trials were double-blind, placebo-controlled
studies. We designed the studies by applying our understanding of the underlying neurodegenerative disease states, and measured both
target and pathway validation in the spinal fluid of patients to determine whether patients improved following treatment. In addition
to meeting their primary endpoints of safety and tolerability and secondary endpoint of pharmacokinetics of Buntanetap, our AD/PD Trials
met exploratory endpoints of measures of biomarkers and improvements in cognition in AD patients, and in function in PD patients. We
believe that the AD/PD Trials represent the first double-blind placebo-controlled studies that showed improvements in AD patients, as
measured by ADAS-Cog, and in PD patients, as measured by UPDRS. Following completion of the AD/PD Trials, we submitted our data to the
U.S. Food and Drug Administration (&ldquo;FDA&rdquo;) and requested direction to further pursue the development of Buntanetap in early
PD patients. With the FDA&rsquo;s guidance, we initiated a Phase 3 study in early PD patients in August&nbsp;2022 (our &ldquo;Phase 3
PD Study&rdquo;). In the Phase 3 PD Study, early PD patients were defined as those at Hoehn&nbsp;&amp; Yahr stages 1, 2 or 3, and OFF
times of less than two hours per day. OFF time refers to when PD motor and/or non-motor symptoms occur between medication doses. We also
submitted a proposed protocol for the treatment of moderate AD to the FDA, and after receiving permission to proceed, we initiated a
Phase 2/3 study in mild to moderate AD patients in February&nbsp;2023 (our &ldquo;Phase 2/3 AD Study&rdquo;). In the Phase 2/3 AD Study,
mild to moderate AD patients were defined as those with a MMSE score between 14 and 24. At the completion of the ADCS Trial, the data
showed that Buntanetap is a translational inhibitor in humans just like in animals, and we further observed that there was statistical
improvement in cognition in early AD patients, just like in the AD/PD Trials.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Our Phase 3 PD
Study and Phase 2/3 AD Study each have built in interim analyses. Our Phase 3 PD Study incorporated an interim analysis at two
months, the results of which were disclosed on March 31, 2023. The pre-planned interim analysis was conducted by our data analytics
provider based on 132 patients from all cohorts collectively for which baseline and two-month data was available. As the interim
analysis was conducted at two months of the six-month endpoint and only on 132 patients, it may not be indicative of the results at
six months for the full patient population because as the trial progresses, clinical outcomes may materially change as patient
enrollment continues and more patient data become available, or different conclusions or considerations may qualify such results
once additional data have been received and fully evaluated. Based on the results of the interim analysis, we intend to proceed with
the Phase 3 PD Study as planned in accordance with the previously established protocol. We remain blinded to the Phase 3 PD Study
and we do not have safety or efficacy data from the trial. A separate safety interim analysis is in process and we expect that
interim analysis to be released in the second quarter of 2023. We intend to disclose the results of an interim analysis for our
Phase 2/3 AD Study in Fall 2023. We plan to consult with the FDA following completion of these interim analyses, to obtain feedback
on our ongoing and planned AD and PD studies, including conducting an open label extension study following the completion of the
initial trials. Using the data from the Phase 3 PD Study interim analysis, we intend to design an 18-month long disease-modifying
Phase 3 study in the same early PD patients. In addition, we intend to conduct a short 6-month study in advanced PD patients during
the second half of the 18-month disease modifying Phase 3 study, at which time we will define the advanced PD patient population for
the purposes of such study. Similarly, using the data from the Phase 2/3 AD Study interim analysis, we intend to design an 18-month
disease modifying Phase 3 study in the same early AD patient population. In addition, we intend to conduct a short 6-month study in
advanced AD patients during the second half of the 18-month disease modifying Phase 3 study, at which time we will define the
advanced AD patient population for the purposes of such study. We expect both the ongoing Phase 3 PD Study and the Phase 2/3 AD
Study to be completed by the end of 2023, and we intend to announce the data from the final analyses in the first quarter of
2024.</FONT></P>

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</DIV>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">By the end of 2026,
our goal is to have conducted the required pivotal studies for Buntanetap to be able to file two new drug applications (&ldquo;NDAs&rdquo;)
with the FDA.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We believe that
we are the only company developing a drug for AD and PD that is designed to inhibit more than one neurotoxic protein, and has a mechanism
of action designed to restore nerve cell axonal and synaptic activity. By improving brain function, our goal is to treat memory loss
and dementia associated with AD as well as body and brain function associated with PD. Based on pre-clinical and clinical data collected
to date, we believe that Buntanetap has the potential to be the first drug to interfere with the underlying mechanism of neurodegeneration,
potentially enabling Buntanetap to be the only drug to improve cognition in AD and motor function in PD. The industry has encountered
challenges in specifically targeting one neurotoxic protein, be it APP, tau or &alpha;SYN, indicating that doing so does not change the
course of neurodegeneration. Our goal is to develop a disease modifying drug (&ldquo;DMD&rdquo;) for patients with neurodegeneration
by leveraging our clinical and pre-clinical data to inhibit the three most relevant neurotoxic proteins. Studies have found that AD and
PD are the most common neurodegenerative diseases in the U.S., and accordingly these diseases present two unmet needs of the aging population
and two potentially large U.S. markets if a DMD is developed and approved.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Preliminary Unaudited
Cash and Cash Equivalents as of March&nbsp;31, 2023</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">On a preliminary
unaudited basis, we expect our cash and cash equivalents as of March&nbsp;31, 2023 to be approximately $16.8 million. This estimate of
cash and cash equivalents is our preliminary estimate based on currently available information and does not present all necessary information
for an understanding of our financial condition as of March&nbsp;31, 2023 or our results of operations for the three months ended March&nbsp;31,
2023. As we complete our quarter-end financial close process and finalize our financial statements for the three months ended March&nbsp;31,
2023, we will be required to make significant judgments in a number of areas that may result in the estimate provided herein being different
than the final reported cash and cash equivalents. This preliminary estimate has been prepared by and is the responsibility of our management.
Our independent registered public accounting firm has not audited, reviewed, or performed any procedures with respect to this preliminary
estimate or the accounting treatment thereof and does not express an opinion or any other form of assurance with respect thereto. It
is possible that we or our independent registered public accounting firm may identify items that require us to make adjustments to the
preliminary estimated cash and cash equivalents balance set forth above and those changes could be material. Accordingly, undue reliance
should not be placed on this preliminary estimate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The preliminary
estimate is not necessarily indicative of any future period and should be read together with the sections of this prospectus supplement,
our Annual Report on Form&nbsp;10-K and our Quarterly Reports on Form&nbsp;10-Q captioned &ldquo;Risk Factors&rdquo;, &ldquo;Special
Note Regarding Forward-looking Statements&rdquo; and the financial statements and related notes and other information that we incorporate
by reference herein, including our Annual Report on Form&nbsp;10-K and our Quarterly Reports on Form&nbsp;10-Q for additional information
regarding factors that could result in differences between the preliminary estimate and the actual results we will report for cash and
cash equivalents as of March&nbsp;31, 2023.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We have never been
profitable and have incurred net losses since inception. We expect to incur losses for the foreseeable future, and we expect these losses
to increase as we continue our development of, and seek regulatory approvals for, our product candidates. Because of the numerous risks
and uncertainties associated with product development, we are unable to predict the timing or amount of increased expenses or when we
will be able to achieve or maintain profitability, if at all.</FONT></P>

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</DIV>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Implications
of Being an Emerging Growth Company and a Smaller Reporting Company</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We qualify as an
 &ldquo;emerging growth company&rdquo; as defined in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. For so long as
we remain an emerging growth company, we may take advantage of relief from certain reporting requirements and other burdens that are
otherwise applicable generally to public companies. These provisions include:</FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">reduced
                                            obligations with respect to financial data, including only being required to present two
                                            years of audited financial statements, in addition to any required unaudited interim financial
                                            statements with correspondingly reduced &ldquo;Management&rsquo;s Discussion and Analysis
                                            of Financial Condition and Results of Operations&rdquo; disclosure;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">reduced
                                            disclosure about our executive compensation arrangements in our periodic reports, proxy statements
                                            and registration statements;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">an
                                            exception from compliance with the auditor attestation requirements of Section&nbsp;404 of
                                            the Sarbanes-Oxley Act of 2002, as amended;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">exemptions
                                            from the requirements of holding non-binding advisory votes on executive compensation or
                                            golden parachute arrangements; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">an
                                            exemption from compliance with the requirements of the Public Company Accounting Oversight
                                            Board regarding the communication of critical audit matters in the auditor&rsquo;s report
                                            on financial statements.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We may take advantage
of these provisions until we no longer qualify as an emerging growth company. We will cease to qualify as an emerging growth company
on the date that is the earliest of: (i)&nbsp;January&nbsp;28, 2025, (ii)&nbsp;the last day of the fiscal year in which we have more
than $1.235 billion in total annual gross revenues, (iii)&nbsp;the date on which we are deemed to be a &ldquo;large accelerated filer&rdquo;
under the rules&nbsp;of the SEC which means the market value of our common stock that is held by non-affiliates exceeds $700 million
as of the prior June&nbsp;30th, or (iv)&nbsp;the date on which we have issued more than $1.0 billion of non-convertible debt over the
prior three-year period. We may choose to take advantage of some but not all of these reduced reporting burdens. We have taken advantage
of certain reduced reporting requirements in this prospectus supplement and the documents incorporated by reference herein. Accordingly,
the information contained herein may be different than you might obtain from other public companies in which you hold equity interests.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">In addition, under
the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards until such time as those standards apply
to private companies. We have elected to take advantage of the extended transition period to comply with new or revised accounting standards
and to adopt certain of the reduced disclosure requirements available to emerging growth companies. As a result of the accounting standards
election, we will not be subject to the same implementation timing for new or revised accounting standards as other public companies
that are not emerging growth companies, which may make comparison of our financials to those of other public companies more difficult.
As a result of these elections, the information that we provide in this prospectus supplement and the documents incorporated by reference
herein may be different than the information you may receive from other public companies in which you hold equity interests. In addition,
it is possible that some investors will find our common stock less attractive as a result of these elections, which may result in a less
active trading market for our common stock and higher volatility in our share price.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

</DIV>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We are also a &ldquo;smaller
reporting company,&rdquo; meaning that the market value of our shares held by non-affiliates is less than $700 million and our annual
revenue was less than $100 million during the most recently completed fiscal year. We may continue to be a smaller reporting company
if either (i)&nbsp;the market value of our shares held by non-affiliates is less than $250 million or (ii)&nbsp;our annual revenue was
less than $100 million during the most recently completed fiscal year and the market value of our shares held by non-affiliates is less
than $700 million. If we are a smaller reporting company at the time we cease to be an emerging growth company, we may continue to rely
on exemptions from certain disclosure requirements that are available to smaller reporting companies. Specifically, as a smaller reporting
company, we may choose to present only the two most recent fiscal years of audited financial statements in our Annual Report on Form&nbsp;10-K
and, similar to emerging growth companies, smaller reporting companies have reduced disclosure obligations regarding executive compensation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Corporate Information</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We were incorporated
in Delaware in 2008. Our principal executive offices are located at 1055 Westlakes Drive, Suite&nbsp;300, Berwyn, PA 19312 and our telephone
number is (610) 727-3913. Our website address is&nbsp;<I>www.annovisbio.com</I>. Information contained on, or that may be accessed through,
the website is not incorporated by reference into this prospectus supplement and the inclusion of our website address in this prospectus
supplement is an inactive textual reference only.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

</DIV>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B><A NAME="a_003"></A>THE
OFFERING</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 39%; padding-right: 2.9pt; padding-left: 2.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Common
    stock offered by us</B></FONT></TD>
    <TD STYLE="font-size: 10pt; width: 61%; padding-right: 2.9pt; padding-left: 2.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares
    of our common stock having an aggregate offering price of up to $50,000,000.</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Common
    stock to be outstanding after this offering</B></FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Up
to 10,651,485</FONT> shares, assuming sales of 2,487,562 shares of our common stock in this offering at an offering price of $20.10 per
share, which is the last reported sale price of our common stock on the New York Stock Exchange on March&nbsp;30, 2023. The actual number
of shares issued will vary depending on the sales price under this offering.</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Manner
    of offering</B></FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;At
    the market offering&rdquo; that may be made from time to time through our Sales Agents. We may also sell shares to each of the Sales
    Agents as principal for its own account. See &ldquo;Plan of Distribution&rdquo; on page&nbsp;S-12.</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Use
    of proceeds</B></FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    currently intend to use the net proceeds, if any, from this offering primarily for clinical trials, working capital and other general
    corporate purposes. The expected use of net proceeds of this offering represents our current intentions based on our present plans
    and business conditions. We cannot specify with certainty all of the particular uses for the net proceeds to be received in this
    offering. Pending these uses, we plan to invest the net proceeds of this offering in short- and intermediate-term, interest-bearing
    obligations, investment-grade instruments, certificates of deposit or direct or guaranteed obligations of the U.S. government. See
    &ldquo;Use of Proceeds&rdquo; on page&nbsp;S-10.</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Risk
    factors</B></FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
    should read the &ldquo;Risk Factors&rdquo; section of this prospectus supplement, the accompanying prospectus, and in the documents
    incorporated by reference herein for a discussion of factors to consider carefully before deciding to invest in shares of our common
    stock. See &ldquo;Risk Factors&rdquo; on page&nbsp;S-6.</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>New
    York Stock Exchange symbol</B></FONT></TD>
    <TD STYLE="font-size: 10pt; padding-right: 2.9pt; padding-left: 2.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;ANVS&rdquo;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The number of shares
of our common stock that will be outstanding after this offering is based on 8,163,923 shares of our common stock outstanding as of December&nbsp;31,
2022, and excludes:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">1,657,342
                                            shares of our common stock issuable upon the exercise of stock options outstanding as of
                                            December&nbsp;31, 2022, at a weighted-average exercise price of $13.95 per share&#894;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">2,400
                                            shares of common stock issuable upon the exercise of outstanding warrants  having an exercise price of $7.50 per share&#894; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">392,874
                                            shares of common stock reserved for future issuance under our 2019 Equity Incentive Plan
                                            (the &ldquo;2019 Plan&rdquo;) as of December&nbsp;31, 2022.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Unless
otherwise indicated, all information in this prospectus supplement assumes no exercise of the outstanding options subsequent to
December&nbsp;31, 2022, and reflects an assumed public offering price of $20.10 per share, which is the last reported sale price of
our common stock on the New York Stock Exchange on March 30, 2023.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B><A NAME="a_004"></A>RISK
FACTORS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><I>Investing in our common stock involves
a high degree of risk. Before you decide to invest in our common stock, you should carefully consider the risks and uncertainties described
below together with all other information contained in this prospectus supplement, the accompanying prospectus and in our filings with
the SEC that we have incorporated by reference into this prospectus supplement. See the section of this prospectus supplement entitled
 &ldquo;Where You Can Find Additional Information; Incorporation by Reference.&rdquo; If any of the following risks actually occur, our
business, prospects, operating results and financial condition could suffer materially. In such event, the trading price of our common
stock could decline and you might lose all or part of your investment.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt"><B>Additional Risks Related
to This Offering</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B><I>We have broad
discretion over the use of our cash, cash equivalents and short-term investments, including the net proceeds we receive in this offering,
and may not use them effectively, in ways that you and other stockholders may not approve, or in ways that do not increase the value
of your investment.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Our management will
have broad discretion in the application of the net proceeds from this offering, including for any of the purposes described in &ldquo;Use
of Proceeds.&rdquo; We currently intend to use the net proceeds, if any, from this offering primarily for clinical trials, working capital
and other general corporate purposes. The expected use of net proceeds of this offering represents our current intentions based on our
present plans and business conditions. We cannot specify with certainty all of the particular uses for the net proceeds to be received
in this offering. Because of the number and variability of factors that will determine our use of the net proceeds from this offering,
their ultimate use may vary substantially from their currently intended use. Our management might not apply our net proceeds in ways
that ultimately increase the value of your investment, in ways that are otherwise ineffective or in ways with which you disagree, and
the failure by our management to apply these funds effectively could harm our business. Pending their use, we plan to invest the net
proceeds of this offering in short- and intermediate-term, interest-bearing obligations, investment-grade instruments, certificates of
deposit or direct or guaranteed obligations of the U.S. government. These investments may not yield a favorable return to our stockholders.
Our management has broad discretion to use our cash, cash equivalents, and short-term investments including the net proceeds we receive
in this offering, to fund our operations and could spend these funds in ways that do not improve our results of operations or enhance
the value of our common stock. The failure by our management to invest or apply the net proceeds from this offering in ways that enhance
stockholder value could result in financial losses that could have an adverse effect on our business, which could cause the price of
our common stock to decline. See &ldquo;Use of Proceeds.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B><I>If you purchase
shares of our common stock in this offering, you will suffer immediate and substantial dilution in the book value of your investment.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The price per
share of our common stock being offered may be higher than the net tangible book value per share of our common stock outstanding
prior to this offering. Assuming that an aggregate of 2,487,562 shares are sold at a price of $20.10 per share, which is the last
reported sale price of our common stock on the New York Stock Exchange on March&nbsp;30, 2023, for aggregate proceeds of $50.0
million in this offering, and after deducting commissions and estimated aggregate offering expenses payable by us, you will suffer
immediate and substantial dilution of $12.78 per share, representing the difference between the as adjusted net tangible book value
per share of our common stock as of December&nbsp;31, 2022 after giving effect to this offering and the assumed public offering
price of $20.10 per share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Because the sales
of the shares offered hereby will be made directly into the market, the prices at which we sell these shares will vary and these variations
may be significant. Purchasers of the shares we sell, as well as our existing stockholders, will experience significant dilution if we
sell shares at prices significantly below the price at which they invested. For a further description of the dilution that you will experience
immediately after this offering, see &ldquo;Dilution.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt"><B><I>You may experience future
dilution as a result of future equity offerings.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">In order to raise
additional capital, we may in the future offer additional shares of our common stock or other securities convertible into, or exchangeable
for, our common stock at prices that may not be the same as the price per share in this offering. We cannot assure you that we will be
able to sell shares of our common stock or other related securities in any other offering at a price per share that is equal to or greater
than the price per share paid by investors in this offering. If the price per share at which we sell additional shares of our common
stock or related securities in future transactions is less than the price per share in this offering, investors who purchase our common
stock in this offering will suffer dilution in their investment. In addition, we have a significant number of stock options for shares
of our common stock outstanding. To the extent that outstanding stock options have been or may be exercised, investors purchasing our
common stock in this offering may experience further dilution in the future. Furthermore, a significant portion of our total outstanding
shares are eligible to be sold into the market, which could cause the market price of our common stock to drop significantly, even if
our business is doing well.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B><I>An active
trading market for our common stock may not be sustained following this offering, which could harm the market price of our common stock.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Although our common
stock is listed on the New York Stock Exchange, an active trading market for our shares may not be sustained following this offering.
If an active market for our common stock does not continue, it may be difficult for you to sell your shares, including shares you may
purchase in this offering, at the time you wish to sell them or at a price that you consider reasonable. Any inactive trading market
for our common stock may also impair our ability to raise capital to continue to fund our operations by selling shares and may impair
our ability to acquire other companies or technologies by using our shares as consideration, which, in turn, could materially adversely
affect our business.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B><I>The actual
number of shares of common stock we will issue under the sales agreement, at any one time or in total, is uncertain.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Subject to certain
limitations in the sales agreement and compliance with applicable law, we have the discretion to deliver a placement notice to the Sales
Agents at any time throughout the term of the sales agreement. The per share price of the shares of common stock that are sold by the
Sales Agents after delivering a placement notice will fluctuate based on the market price of our common stock during the sales period
and limits we set with the Sales Agents. Because the price per share of each share of common stock sold will fluctuate based on the market
price of our common stock during the sales period, it is not possible at this stage to predict the number of shares of common stock that
will be ultimately issued.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B><I>The common
stock offered hereby will be sold in &ldquo;at the market offerings,&rdquo; and investors who buy shares at different times will likely
pay different prices.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Investors who purchase
shares in this offering at different times will likely pay different prices, and so may experience different levels of dilution and different
outcomes in their investment results. We will have discretion, subject to market demand, to vary the timing, prices, and numbers of shares
sold, and there is no minimum or maximum sales price. Investors may experience a decline in the value of their shares as a result of
share sales made at prices lower than the prices they paid.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B><A NAME="a_005"></A>SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">This prospectus
supplement and the documents incorporated by reference herein contain forward-looking statements. These are based on our management&rsquo;s
current beliefs, expectations and assumptions about future events, conditions and results and on information currently available to us.
Discussions containing these forward-looking statements may be found, among other places, in the sections entitled &ldquo;Business,&rdquo;
 &ldquo;Risk Factors&rdquo; and &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo;
contained in the documents incorporated by reference herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Any statements in
this prospectus supplement, or incorporated herein, about our expectations, beliefs, plans, objectives, assumptions or future events
or performance are not historical facts and are forward-looking statements. Within the meaning of Section&nbsp;27A of the Securities
Act and Section&nbsp;21E of the Exchange Act, these forward-looking statements include statements regarding:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">our
                                            cash and cash equivalents balance, runway and needs as well as financing plans;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">the
                                            timing of regulatory submissions;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">our
                                            ability to obtain and maintain regulatory approval of our existing product candidates and
                                            any other product candidates we may develop, and the labeling under any approval we may obtain;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">our
                                            business strategies;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">risks
                                            relating to the timing and costs of clinical trials and the timing and costs of other expenses;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">risks
                                            related to market acceptance of products;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">risks
                                            associated with our reliance on third-party organizations;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">our
                                            competitive position;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">assumptions
                                            regarding the size of the available market, product pricing and timing of commercialization
                                            of our product candidates;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">our
                                            intellectual property position and our ability to maintain and protect our intellectual property
                                            rights;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">our
                                            results of operations, financial condition, liquidity, prospects, and growth strategies;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">the
                                            industry in which we operate; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">the
                                            trends that may affect the industry or us.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">In some cases, you
can identify forward-looking statements by the words &ldquo;may,&rdquo; &ldquo;might,&rdquo; &ldquo;can,&rdquo; &ldquo;will,&rdquo; &ldquo;to
be,&rdquo; &ldquo;could,&rdquo; &ldquo;would,&rdquo; &ldquo;should,&rdquo; &ldquo;expect,&rdquo; &ldquo;intend,&rdquo; &ldquo;plan,&rdquo;
 &ldquo;objective,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo; &ldquo;predict,&rdquo; &ldquo;project,&rdquo;
 &ldquo;potential,&rdquo; &ldquo;likely,&rdquo; &ldquo;continue&rdquo; and &ldquo;ongoing,&rdquo; or the negative of these terms, or other
comparable terminology intended to identify statements about the future, although not all forward-looking statements contain these words.
These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity,
performance or achievements to be materially different from the information expressed or implied by these forward-looking statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">You should refer
to the &ldquo;Risk Factors&rdquo; section contained in this prospectus supplement and any related free writing prospectus, and under
similar headings in the accompanying prospectus and the documents that are incorporated by reference into this prospectus supplement,
for a discussion of important factors that may cause our actual results to differ materially from those expressed or implied by our forward-looking
statements. Given these risks, uncertainties and other factors, many of which are beyond our control, we cannot assure you that the forward-looking
statements in the prospectus supplement will prove to be accurate, and you should not place undue reliance on these forward-looking statements.
Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties
in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person
that we will achieve our objectives and plans in any specified time frame, or at all.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Except as required
by law, we assume no obligation to update these forward-looking statements publicly, or to revise any forward-looking statements to reflect
events or developments occurring after the date of this prospectus supplement, even if new information becomes available in the future.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B><A NAME="a_006"></A>USE
OF PROCEEDS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We may issue and
sell shares of our common stock having aggregate sales proceeds of up to $50.0 million from time to time pursuant to the sales agreement.
The amount of proceeds from this offering will depend upon the number of shares of our common stock sold and the market price at which
they are sold. Because there is no minimum offering amount required as a condition to close this offering, the actual total public offering
amount, commissions and proceeds to us, if any, are not determinable at this time. There can be no assurance that we will sell any shares
under or fully utilize the sales agreement as a source of financing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We currently expect
to use the net proceeds that we receive from this offering for clinical trials, working capital and other general corporate purposes.
The expected use of net proceeds of this offering represents our current intentions based on our present plans and business conditions.
We cannot specify with certainty all of the particular uses for the net proceeds to be received in this offering. Pending these uses,
we plan to invest the net proceeds of this offering in short- and intermediate-term, interest-bearing obligations, investment-grade instruments,
certificates of deposit or direct or guaranteed obligations of the U.S. government.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B><A NAME="a_007"></A>DILUTION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Our net tangible
book value as of December&nbsp;31, 2022, was approximately $28.3 million, or $3.47 per share. Net tangible book value per share is determined
by dividing our total tangible assets, less total liabilities, by the number of shares of our common stock outstanding as of December&nbsp;31,
2022. Dilution in net tangible book value per share represents the difference between the amount per share paid by purchasers of shares
of common stock in this offering and the as adjusted net tangible book value per share of our common stock immediately after giving effect
to this offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">After giving effect to the sale of our common
stock in the aggregate amount of $50 million in this offering at an assumed offering price of $20.10, the last reported sale price of
our common stock on the New York Stock Exchange on March 30, 2023, and after deducting commissions and estimated aggregate offering expenses
payable by us, our as adjusted net tangible book value as of December&nbsp;31, 2022, would have been approximately $77.0 million, or
$7.32 per share. This represents an immediate increase in net tangible book value of $3.85 per share to existing stockholders and immediate
dilution in net tangible book value of $12.78 per share to new investors purchasing our common stock in this offering. The following
table illustrates this dilution on a per share basis:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 85%; font: 10pt Times New Roman, Times, Serif; text-indent: -0.25in; padding-left: 0.25in">Assumed public offering
    price per share</TD>
    <TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif; text-align: right">20.10</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -0.25in; padding-left: 0.25in">Historical net tangible book value
    per share as of December&nbsp;31, 2022</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">28,323,530</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Increase in net
    tangible book value per share attributable to new investors purchasing shares of common stock in this offering</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">3.85</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.25in; padding-left: 0.25in">As adjusted net
    tangible book value per share as of December&nbsp;31, 2022, after giving effect to this offering</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">76,998,530</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Dilution per share
    to investors purchasing our common stock in this offering</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12.78</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE><BR STYLE="clear: both">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The shares sold in this offering, if any,
will be sold from time to time at various prices. An increase of $1.00 per share in the price at which the shares are sold from the
assumed offering price of $20.10 per share shown in the table above, assuming all of our common stock in the aggregate amount of
$50.0 million is sold at that price, would cause our as adjusted net tangible book value per share after the offering to be $7.40
per share and would increase the dilution in net tangible book value per share to new investors to $13.70 per share, after deducting
commissions and estimated aggregate offering expenses payable by us. A decrease of $1.00 per share in the price at which the shares
are sold from the assumed offering price of $20.10 per share shown in the table above, assuming all of our common stock in the
aggregate amount of $50.0 million is sold at that price, would cause our as adjusted net tangible book value per share after the
offering to be $7.23 per share and would decrease the dilution in net tangible book value per share to new investors to $11.87 per
share, after deducting commissions and estimated aggregate offering expenses payable by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">To the extent that
outstanding options are exercised, investors purchasing our common stock in this offering will experience further dilution. In addition,
to the extent that we raise additional capital through the sale of equity or convertible debt securities, the issuance of these securities
could result in further dilution to our stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The number of shares
of our common stock that will be outstanding after this offering is based on 8,163,923 shares of our common stock outstanding as of December&nbsp;31,
2022, and excludes:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">1,657,342
                                            shares of our common stock issuable upon the exercise of stock options outstanding as of
                                            December&nbsp;31, 2022, at a weighted-average exercise price of $13.95 per share&#894;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">2,400
                                            shares of common stock issuable upon the exercise of outstanding warrants having an exercise price of $7.50 per share&#894; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">392,874
                                            shares of common stock reserved for future issuance under our 2019 Plan as of December&nbsp;31,
                                            2022.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B><A NAME="a_008"></A>PLAN
OF DISTRIBUTION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>General</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We have entered
into a sales agreement with BofA Securities,&nbsp;Inc. and ThinkEquity LLC, collectively referred to as Sales Agents and each individually
a Sales Agent, relating to the offer and sale from time to time of shares of our common stock having an aggregate offering price of up
to $50.0 million through the Sales Agents, acting as our agents, or directly to the Sales Agents, acting as principals for their own
respective accounts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales
of shares of our common stock, if any, </FONT><FONT STYLE="font-size: 10pt">under this prospectus supplement and the accompanying prospectus
will be made by any method permitted by law and deemed to be an &ldquo;at the market&rdquo; offering as defined in Rule&nbsp;415 promulgated
under the Securities Act, including by ordinary brokers&rsquo; transactions through the facilities of the New York Stock Exchange or
otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, in
block transactions or as otherwise permitted by law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Sales Agents are not required to sell any </FONT><FONT STYLE="font-size: 10pt">specific number or dollar amount of shares of common stock,
but each Sales Agent will use its commercially reasonable efforts, as our agent and consistent with its normal trading and sales practices,
to sell, subject to the terms of the sales agreement, shares of common stock, as agreed upon among us and the Sales Agents from time
to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
no event will the aggregate sales price of </FONT><FONT STYLE="font-size: 10pt">shares of our common stock sold by us to or through the
Sales Agents, acting as our agents or as principals for their own respective accounts pursuant to the sales agreement, exceed $50.0 million.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">In connection with
the sale of shares of our common stock on our behalf, each of the Sales Agents will be deemed to be an &ldquo;underwriter&rdquo; within
the meaning of the Securities Act, and the compensation paid to the Sales Agents will be deemed to be underwriting commissions or discounts.
We have agreed that we will indemnify the Sales Agents against certain liabilities, including liabilities under the Securities Act, or
contribute to payments that the Sales Agents may be required to make in respect of those liabilities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
estimate that the expenses payable </FONT><FONT STYLE="font-size: 10pt">by us in connection with the offering and sale of shares of our
common stock pursuant to the sales agreement, other than discounts and commissions but including expenses paid prior to the date of this
prospectus supplement, will be approximately $325,000. The remaining sales proceeds from the sale of any shares of our common stock,
after deducting any transaction fees, transfer taxes or similar fees, taxes or charges imposed by any governmental or self-regulatory
organization in connection with such sales, shall constitute the net proceeds from the sale of our common stock offered by this prospectus
supplement and the accompanying prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
offering of shares of our common </FONT><FONT STYLE="font-size: 10pt">stock pursuant to the sales agreement will terminate upon the earlier
of (1)&nbsp;the sale of shares of our common stock having an aggregate sales price of $50.0 million pursuant to the sales agreement or
(2)&nbsp;the termination of the sales agreement in accordance with its terms.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Upon its acceptance
of instructions from us, each of the Sales Agents has agreed to use its commercially reasonable efforts to sell shares of our common
stock on the terms and subject to the conditions set forth in the sales agreement. We will instruct each of the Sales Agents as to the
amount of common stock to be sold by it as our agent. We may instruct the Sales Agents not to sell our common stock if sales cannot be
effected at or above a price designated by us. We or the Sales Agents may at any time immediately suspend the offering of shares of our
common stock through the Sales Agents upon notice to the other party.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Sales Agents will provide written </FONT><FONT STYLE="font-size: 10pt">confirmation following the close of trading on the New York Stock
Exchange on each trading day on which shares of our common stock are sold through the Sales Agents under the sales agreement. Each confirmation
will include the number of shares of our common stock sold on that day, the aggregate gross proceeds of such sales, the net proceeds
of such sales and the compensation payable by us to the Sales Agents in connection with such sales of our common stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We will pay the
Sales Agents an aggregate fee equal to 2.0% of the gross proceeds from the sales of all shares of common stock sold through the Sales
Agents under the sales agreement. We have also agreed to reimburse the Sales Agents for their reasonable and documented out-of-pocket
expenses, including the reasonable fees, disbursements and expenses of counsel for the Sales Agents in an amount not to exceed $150,000
in the aggregate (plus up to an additional $25,000 of fees, disbursements and expenses of counsel for the Sales Agents in connection
the review by FINRA of the offering).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the terms of the sales agreement, we may </FONT><FONT STYLE="font-size: 10pt">also sell shares of our common stock in negotiated transactions
or as otherwise agreed with the Sales Agents, including sales to the Sales Agents, as principal for their own respective accounts, at
a price to be agreed upon at the time of sale. If we sell shares of our common stock in a manner which is not an &ldquo;at the market&rdquo;
offering, including sales to the Sales Agents, as principal for their own respective accounts, we will enter into a separate terms agreement
with the Sales Agents, and we will describe the terms of the offering of such shares in a separate prospectus supplement or free writing
prospectus if required. Each of the Sales Agents does not have any obligation to purchase shares of common stock from us as principal
and may elect whether or not to do so in its sole and absolute discretion.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Certain Relationships</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The Sales Agents
and their affiliates are full service financial institution engaged in various activities, which may include sales and trading, commercial
and investment banking, advisory, investment management, investment research, principal investment, hedging, market making, brokerage
and other financial and non-financial activities and services. The Sales Agents and certain of their affiliates have provided, and may
in the future provide, a variety of these services to us and to persons and entities with relationships with us, for which they received
or will receive customary fees and expenses. For example, ThinkEquity LLC acted as an underwriter in our initial public offering of our
common stock. In connection with this role, ThinkEquity LLC received warrants to purchase shares of our common stock at an exercise price
of $7.50 per share. As of December&nbsp;31, 2022, ThinkEquity LLC or its affiliates held 2,400 warrants.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">In the ordinary
course of their various business activities, the Sales Agents and their affiliates, officers, directors and employees may purchase, sell
or hold a broad array of investments and actively trade securities, derivatives, loans, commodities, currencies, credit default swaps
and other financial instruments for their own accounts and for the accounts of their customers, and such investment and trading activities
may involve or relate to our assets, securities and/or instruments (directly, as collateral securing other obligations or otherwise)
and/or persons and entities with relationships with us. The Sales Agents and their affiliates may also communicate independent investment
recommendations, market color or trading ideas and/or publish or express independent research views in respect of such assets, securities
or instruments and may at any time hold, or recommend to clients that they should acquire, long and/or short positions in such assets,
securities and instruments.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Selling Restrictions</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Other than in the
United States, no action has been taken by us or the Sales Agents that would permit a public offering of the shares of common stock offered
by this prospectus supplement and the accompanying prospectus in any jurisdiction where action for that purpose is required. The shares
offered by this prospectus supplement may not be offered or sold, directly or indirectly, nor may this prospectus supplement or any other
offering material or advertisements in connection with the offer and sale of any such shares be distributed or published in any jurisdiction,
except under circumstances that will result in compliance with the applicable rules&nbsp;and regulations of that jurisdiction. Persons
into whose possession this prospectus supplement comes are advised to inform themselves about and to observe any restrictions relating
to the offering and the distribution of this prospectus supplement. This prospectus supplement does not constitute an offer to sell or
a solicitation of an offer to buy any shares of common stock offered by this prospectus supplement in any jurisdiction in which such
an offer or a solicitation is unlawful.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">You should be aware
that the laws and practices of certain countries require investors to pay stamp taxes and other charges in connection with purchases
of securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B><A NAME="a_009"></A>LEGAL
MATTERS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The validity of
the securities offered by this prospectus supplement will be passed upon by Duane Morris LLP. Shearman&nbsp;&amp; Sterling LLP, New York,
New York is acting as counsel to the Sales Agents in connection with this offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><A NAME="a_010"></A><B>EXPERTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">WithumSmith+Brown,
PC, independent registered public accounting firm, has audited our consolidated financial statements included in our Annual Report on
Form&nbsp;10-K for the year ended December&nbsp;31, 2022, as set forth in their report which is incorporated by reference in this prospectus
supplement and elsewhere in the registration statement. Our financial statements are incorporated by reference in reliance on WithumSmith+Brown,
PC&rsquo;s report, given on their authority as experts in accounting and auditing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B><A NAME="a_011"></A>WHERE
YOU CAN FIND ADDITIONAL INFORMATION; INCORPORATION BY REFERENCE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Available Information</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We file annual,
quarterly and current reports, proxy statements and other information with the SEC. Our SEC filings are available to the public over
the Internet at the SEC&rsquo;s website at <I>www.sec.gov</I>. Copies of certain information filed by us with the SEC are also available
on our website at <I>www.annovisbio.com</I>. Information accessible on or through our website is not a part of this prospectus supplement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
prospectus supplement is part of a </FONT><FONT STYLE="font-size: 10pt">registration statement that we filed with the SEC and does not
contain all of the information in the registration statement. You should review the information and exhibits in the registration statement
for further information on us and our consolidated subsidiaries and the securities that we are offering. Forms of any indenture or other
documents establishing the terms of the offered securities are filed as exhibits to the registration statement of which this prospectus
supplement forms a part or under cover of a Current Report on Form&nbsp;8-K and incorporated in this prospectus supplement by reference.
Statements in this prospectus supplement about these documents are summaries and each statement is qualified in all respects by reference
to the document to which it refers. You should read the actual documents for a more complete description of the relevant matters.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Incorporation by Reference</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
SEC allows us to incorporate by </FONT><FONT STYLE="font-size: 10pt">reference much of the information that we file with the SEC, which
means that we can disclose important information to you by referring you to those publicly available documents. The information that
we incorporate by reference in this prospectus supplement is considered to be part of this prospectus supplement. Because we are incorporating
by reference future filings with the SEC, this prospectus supplement is continually updated and those future filings may modify or supersede
some of the information included or incorporated by reference in this prospectus supplement. This means that you must look at all of
the SEC filings that we incorporate by reference to determine if any of the statements in this prospectus supplement or in any document
previously incorporated by reference have been modified or superseded. This prospectus supplement incorporates by reference the documents
listed below and any future filings we make with the SEC under Sections 13(a), 13(c), 14 or 15(d)&nbsp;of the Exchange Act (in each case,
other than those documents or the portions of those documents furnished pursuant to Items 2.02 or 7.01 of any Current Report on Form&nbsp;8-K
and, except as may be noted in any such Form&nbsp;8-K, exhibits filed on such form that are related to such information), until the offering
of the securities under the registration statement of which this prospectus supplement forms a part is terminated or completed:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following documents are </FONT><FONT STYLE="font-size: 10pt">incorporated by reference into this document:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/1477845/000110465923040275/anvs-20221231x10k.htm" STYLE="-sec-extract: exhibit">our Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2022, filed with the SEC on March&nbsp;31, 2023&#894;</A></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">our
                                            Current Reports on Form&nbsp;8-K filed with the SEC on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1477845/000110465923001850/tm232502d1_8k.htm" STYLE="-sec-extract: exhibit">January&nbsp;6, 2023</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1477845/000110465923019581/tm236582d1_8k.htm" STYLE="-sec-extract: exhibit">February&nbsp;13, 2023</A>, and <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1477845/000110465923029078/tm238624d1_8k.htm" STYLE="-sec-extract: exhibit">March&nbsp;6, 2023</A>;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1477845/000110465921051861/tm212636d1_def14a.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">the portions of our Definitive Proxy Statement on Schedule 14A (other than information furnished rather than filed) that are incorporated by reference into our Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2021, filed with the SEC on <U>April&nbsp;19, 2022</U>&#894; and</FONT></A></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.5in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">the
                                            description of our common stock contained in the <A HREF="https://www.sec.gov/Archives/edgar/data/1477845/000110465921140386/tm2133159d1_8a12b.htm" STYLE="-sec-extract: exhibit">Registration Statement on <U>Form&nbsp;8-A </U>relating thereto, filed on November&nbsp;17, 2021</A>, and any amendment or report filed
                                            for the purpose of updating such description, including <U>Exhibit&nbsp;4.3 </U>to our Annual
                                            Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2022, filed with the SEC on
                                            March&nbsp;31, 2023.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We also incorporate
by reference into this prospectus supplement all documents (other than current reports furnished under Item 2.02 or Item 7.01 of Form&nbsp;8-K
and exhibits filed on such form that are related to such items) that are filed by us with the SEC pursuant to Sections 13(a), 13(c),
14 or 15(d)&nbsp;of the Exchange Act after the date of this prospectus supplement and before the later of (1)&nbsp;the completion of
the offering of our common stock pursuant to this prospectus supplement and (2)&nbsp;the date we stop offering our common stock pursuant
to this prospectus supplement. These documents include periodic reports, such as Annual Reports on Form&nbsp;10-K, Quarterly Reports
on Form&nbsp;10-Q and Current Reports on Form&nbsp;8-K, as well as proxy statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We will provide
to each person, including any beneficial owner, to whom this prospectus supplement and the accompanying prospectus are delivered, without
charge upon written or oral request, a copy of any or all of the documents that are incorporated by reference into the prospectus supplement
and accompanying prospectus but not delivered with the prospectus supplement and accompanying prospectus, including exhibits which are
specifically incorporated by reference into such documents. You may also access this information on our website at <I>www.annovisbio.com
</I>by viewing the &ldquo;SEC Filings&rdquo; subsection of the &ldquo;Investors&rdquo; menu. No additional information is deemed to be
part of or incorporated by reference into this prospectus supplement. You should direct any requests for documents to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">Annovis Bio,&nbsp;Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">1055 Westlakes Drive,
Suite&nbsp;300</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">Berwyn, PA 19312</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">(610) 727-3913</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Any statement contained
in this prospectus supplement or contained in a document incorporated or deemed to be incorporated by reference into this prospectus
supplement will be deemed to be modified or superseded to the extent that a statement contained in this prospectus supplement or any
subsequently filed supplement to this prospectus supplement, or document deemed to be incorporated by reference into this prospectus
supplement, modifies or supersedes such statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><IMG SRC="tm2310905d1_424b5img01.jpg" ALT=""></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>$250,000,000</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Common Stock<BR STYLE="clear: both">
Preferred Stock<BR STYLE="clear: both">
Warrants<BR STYLE="clear: both">
Units</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt"><FONT STYLE="font-size: 10pt">We may offer and
sell from time to time shares of common stock, shares of preferred stock, warrants, or any combination of those securities, either individually
or in&nbsp;units, up to an aggregate initial offering price of $250,000,000, in one or more transactions under this prospectus. The securities
may be offered in amounts, at prices and on terms to be determined based on market conditions at the time of sale and set forth in an
accompanying prospectus supplement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt"><FONT STYLE="font-size: 10pt">This prospectus provides
you with a general description of the securities that we may offer. Each time we offer securities, we will provide you with a prospectus
supplement that describes specific information about the particular securities being offered and may add, update or change information
contained or incorporated by reference in this prospectus. You should read both this prospectus and the applicable prospectus supplement,
together with the additional information that is incorporated by reference into this prospectus and the applicable prospectus supplement,
before you invest in any of our securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt"><FONT STYLE="font-size: 10pt">The securities may
be sold by us to or through underwriters or dealers, directly to purchasers or through agents designated from time to time, or through
a combination of these methods. For additional information on the methods of sale, you should refer to the section entitled &#8220;Plan
of Distribution&#8221; in this prospectus and the comparable section of any applicable prospectus supplement. If any underwriters are
involved in the sale of the securities with respect to which this prospectus is being delivered, the names of such underwriters and any
applicable discounts or commissions and options will be set forth in the applicable prospectus supplement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt"><FONT STYLE="font-size: 10pt">Our common stock
is listed on the NYSE American under the ticker symbol &#8220;ANVS.&#8221; On January&nbsp;29, 2021, the last reported sale price per
share of our common stock on the NYSE American was $9.98 per share. We have not yet determined whether the other securities that may
be offered by this prospectus will be listed on any exchange, interdealer quotation system or over-the-counter market. If we decide to
seek the listing of any such securities upon issuance, the prospectus supplement relating to those securities will disclose the exchange,
quotation system or market on which those securities will be listed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt"><FONT STYLE="font-size: 10pt"><B>INVESTING IN OUR
SECURITIES INVOLVES A HIGH DEGREE OF RISK. RISKS ASSOCIATED WITH AN INVESTMENT IN OUR SECURITIES WILL BE DESCRIBED IN THE APPLICABLE
PROSPECTUS SUPPLEMENT AND CERTAIN OF OUR FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION INCORPORATED BY REFERENCE INTO THIS PROSPECTUS,
AS DESCRIBED UNDER &#8220;RISK FACTORS&#8221; ON PAGE 4.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt"><FONT STYLE="font-size: 10pt"><B>You should read
this prospectus and any applicable prospectus supplement together with additional information described under the heading &#8220;Where
You Can Find Additional Information&#8221; before you make your investment decision.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt"><FONT STYLE="font-size: 10pt"><B>Neither the Securities
and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus
is truthful or complete. Any representation to the contrary is a criminal offense.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The date of this prospectus is February&nbsp;1,
2021.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
<TD STYLE="border-bottom: white 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&#8203;</B></FONT></TD>
<TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Page</B></FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 93%"><A HREF="#A13">ABOUT THIS PROSPECTUS</A></TD>
<TD STYLE="white-space: nowrap; text-align: right; width: 7%"><A HREF="#A13"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></A></TD>
</TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD><A HREF="#A14">FORWARD-LOOKING STATEMENTS</A></TD>
<TD STYLE="white-space: nowrap; text-align: right"><A HREF="#A14"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></A></TD>
</TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD><A HREF="#A15">THE COMPANY</A></TD>
<TD STYLE="white-space: nowrap; text-align: right"><A HREF="#A15"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3</FONT></A></TD>
</TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD><A HREF="#A16">RISK FACTORS</A></TD>
<TD STYLE="white-space: nowrap; text-align: right"><A HREF="#A16"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></A></TD>
</TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD><A HREF="#A17">USE OF PROCEEDS</A></TD>
<TD STYLE="white-space: nowrap; text-align: right"><A HREF="#A17"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></A></TD>
</TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD><A HREF="#A18">GENERAL DESCRIPTION OF OUR SECURITIES</A></TD>
<TD STYLE="white-space: nowrap; text-align: right"><A HREF="#A18"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6</FONT></A></TD>
</TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD><A HREF="#A19">DESCRIPTION OF OUR CAPITAL STOCK</A></TD>
<TD STYLE="white-space: nowrap; text-align: right"><A HREF="#A19"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7</FONT></A></TD>
</TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD><A HREF="#A20">DESCRIPTION OF OUR WARRANTS</A></TD>
<TD STYLE="white-space: nowrap; text-align: right"><A HREF="#A20"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12</FONT></A></TD>
</TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD><A HREF="#A21">DESCRIPTION OF OUR UNITS</A></TD>
<TD STYLE="white-space: nowrap; text-align: right"><A HREF="#A21"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13</FONT></A></TD>
</TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD><A HREF="#A22">PLAN OF DISTRIBUTION</A></TD>
<TD STYLE="white-space: nowrap; text-align: right"><A HREF="#A22"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">14</FONT></A></TD>
</TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD><A HREF="#A23">LEGAL MATTERS</A></TD>
<TD STYLE="white-space: nowrap; text-align: right"><A HREF="#A23"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17</FONT></A></TD>
</TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD><A HREF="#A24">EXPERTS</A></TD>
<TD STYLE="white-space: nowrap; text-align: right"><A HREF="#A24"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17</FONT></A></TD>
</TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD><A HREF="#A25">WHERE YOU CAN FIND ADDITIONAL INFORMATION; INCORPORATION BY REFERENCE</A></TD>
<TD STYLE="white-space: nowrap; text-align: right"><A HREF="#A25"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17</FONT></A></TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="A13"></A><B>ABOUT THIS PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">As used in this prospectus, unless the context otherwise
requires, the terms &#8220;Annovis,&#8221; the &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; and &#8220;our&#8221; refer
to Annovis Bio, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">This prospectus is a part of a registration statement
that we filed with the Securities and Exchange Commission, (the &#8220;SEC&#8221;), using a &#8220;shelf&#8221; registration process.
Under this shelf registration process, we may offer to sell any of the securities, or any combination of the securities, described in
this prospectus, in each case, in one or more offerings, up to an aggregate dollar amount of $250,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">This prospectus provides you with a general description
of the securities that we may offer. Each time securities are sold under this registration statement, we will provide an accompanying
prospectus supplement that will contain specific information about the terms of those securities and the terms of that offering. The accompanying
prospectus supplement may also add, update or change information contained in this prospectus. If there is any inconsistency between the
information in this prospectus and any accompanying prospectus supplement, you should rely on the information in the accompanying prospectus
supplement. You should read both this prospectus and any accompanying prospectus supplement, including all documents incorporated by reference
herein and therein, together with the additional information described under &#8220;Where You Can Find Additional Information&#8221; below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">The information contained in this prospectus is
not complete and may be changed. You should rely only on the information provided in or incorporated by reference in this prospectus or
in any accompanying prospectus supplement, or documents to which we otherwise refer you. We have not authorized anyone else to provide
you with different information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt"><B>We have not authorized any dealer, agent or other
person to give any information or to make any representation other than those contained or incorporated by reference in this prospectus
and any accompanying prospectus supplement. You must not rely upon any information or representation not contained or incorporated by
reference in this prospectus or an accompanying prospectus supplement. This prospectus and the accompanying prospectus supplement, if
any, do not constitute an offer to sell or the solicitation of an offer to buy any securities other than the registered securities to
which they relate, nor do this prospectus and any accompanying prospectus supplement, if any, constitute an offer to sell or the solicitation
of an offer to buy securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction.
You should not assume that the information contained in this prospectus and any accompanying prospectus supplement is accurate on any
date subsequent to the date set forth on the front of such document or that any information we have incorporated by reference is correct
on any date subsequent to the date of the document incorporated by reference, even though this prospectus and any accompanying prospectus
supplement is delivered, or securities are sold on a later date. </B></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><A NAME="A14"></A>FORWARD-LOOKING
STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">This prospectus, including documents incorporated
by reference, any applicable prospectus supplement and any related free writing prospectus, contain forward-looking statements, as defined
in Section&nbsp;27A of the Securities Act of 1933, as amended, and Section&nbsp;21E of the Securities Exchange Act of 1934, as amended.
In some cases, you can identify forward-looking statements by the words &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;continue,&#8221;
 &#8220;could,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;may,&#8221; &#8220;might,&#8221; &#8220;objective,&#8221;
 &#8220;ongoing,&#8221; &#8220;plan,&#8221; &#8220;predict,&#8221; &#8220;project,&#8221; &#8220;potential,&#8221; &#8220;should,&#8221;
 &#8220;will,&#8221; or &#8220;would,&#8221; and or the negative of these terms, or other comparable terminology intended to identify statements
about the future. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results,
levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking
statements. Although we believe that we have a reasonable basis for each forward-looking statement contained in this prospectus, we caution
you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about
which we cannot be certain.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">The forward-looking statements in this prospectus
include, among other things, statements about:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
business strategies;</FONT></TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: justify">&#8226;</TD><TD STYLE="text-align: justify">the timing of regulatory submissions;</TD>
</TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8203;&#8226; </TD>
  <TD STYLE="text-align: justify">our ability to obtain and maintain regulatory approval of our existing product candidates and any other product candidates we may develop,
and the labeling under any approval we may obtain;</TD></TR>
</TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8203;&#8226;</TD>
  <TD STYLE="text-align: justify">risks relating to the timing and costs of clinical trials and the timing and costs of other expenses;</TD></TR>
</TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8203;&#8226;</TD>
  <TD STYLE="text-align: justify">risks related to market acceptance of products;</TD></TR>
</TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8203;&#8226;</TD>
  <TD STYLE="text-align: justify">risks associated with our reliance on third-party organizations;</TD></TR>
</TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8203;&#8226;</TD>
  <TD STYLE="text-align: justify">our competitive position;</TD></TR>
</TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8203;&#8226;</TD>
  <TD STYLE="text-align: justify">assumptions regarding the size of the available market, product pricing and timing of commercialization of our product candidates;</TD></TR>
</TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8203;&#8226;</TD>
  <TD STYLE="text-align: justify">our intellectual property position and our ability to maintain and protect our intellectual property rights;</TD></TR>
</TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8203;&#8226;</TD>
  <TD STYLE="text-align: justify">our results of operations, financial condition, liquidity, prospects, and growth strategies;</TD></TR>
</TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8203;&#8226;</TD>
  <TD STYLE="text-align: justify">our cash needs and financing plans;</TD></TR>
</TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8203;&#8226;</TD>
  <TD STYLE="text-align: justify">the industry in which we operate; and</TD></TR>
</TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8203;&#8226;</TD>
  <TD STYLE="text-align: justify">the trends that may affect the industry or us.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We cannot guarantee that the results and other
expectations expressed, anticipated or implied in any forward-looking statement will be realized. The risks set forth under
Item&nbsp;1A of our Form 10-K for the year ended December&nbsp;31, 2019, as revised or supplemented by our Quarterly Reports on Form
10-Q and other documents we file with the SEC, describe material risks to our business, and you should read and interpret any
forward-looking statements together with these risks. A variety of factors, including these risks, could cause our actual results
and other expectations to differ materially from the anticipated results or other expectations expressed, anticipated or implied in
our forward-looking statements. Should known or unknown risks materialize, or should underlying assumptions prove inaccurate, actual
results could differ materially from past results and those anticipated, estimated or projected in the forward-looking statements.
You should bear this in mind as you consider any forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">You should read this prospectus, including documents
incorporated by reference, any applicable prospectus supplement and any related free writing prospectus completely and with the understanding
that our actual future results may be materially different from what we expect. The forward-looking statements contained in this prospectus
are made as of the date of this prospectus and we do not assume any obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise, except as required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&#8203;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><A NAME="A15"></A><B>THE
COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 20pt"><B></B>We are a clinical stage, drug platform company addressing neurodegeneration such as Alzheimer&#8217;s disease (&#8220;AD&#8221;),
Parkinson&#8217;s disease (&#8220;PD&#8221;) and Alzheimer&#8217;s disease in Down Syndrome (&#8220;AD-DS&#8221;). Our lead compound,
ANVS401, is a small molecule administered orally that attacks neurodegeneration by entering the brain and inhibiting the translation
of neurotoxic proteins&#8201;&#8212;&#8201;amyloid precursor protein APP/A&#946; (&#8220;APP&#8221;), tau/phospho-tau (&#8220;tau&#8221;)
and &#945;-Synuclein (&#8220;&#945;SYN&#8221;)&#8201;&#8212;&#8201;thereby improving axonal transport. Human studies in four mildly cognitive
impaired (&#8220;MCI&#8221;) patients have shown that ANVS401 lowered the levels of neurotoxic proteins and inflammatory factors. In
preclinical studies, lower neurotoxic protein levels led to improved axonal transport, reduced inflammation, lower nerve cell death and
improved function.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We believe that ANVS401 has the potential to be
the first drug to interfere with the underlying mechanism of neurodegeneration. ANVS401 is a small, once a day, orally administered, brain
penetrant inhibitor of neurotoxic proteins. The biological activity of ANVS401 has been evaluated in 20 animal studies conducted in leading
institutions such as the Karolinska Institute, Columbia University and Harvard University. 18 of the studies are published and two are
presently manuscripts in preparation. We also conducted three clinical trials with 125 humans including two safety studies in 120 healthy
volunteers and a proof-of-concept study in four MCI patients with Parexel, an international clinical research organization. In these studies,
we showed that ANVS401 was well tolerated and we saw promising clinical signals: in all four patients, ANVS401 reduced the levels of APP,
tau and &#945;SYN (&#945;SYN is an unpublished, not statistically significant observation) and lowered inflammatory factors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We are presently conducting a Phase&nbsp;2a clinical
trial in 24 AD patients in collaboration with the Alzheimer&#8217;s Disease Cooperative Study (&#8220;ADCS&#8221;) and a second Phase&nbsp;2a
clinical trial of ANVS401 with 14 AD patients and 54 PD patients (the &#8220;AD/PD Trial&#8221;), which began treating patients in August&nbsp;2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We were incorporated under the laws of the State
of Delaware in 2008. Our principal executive offices are located at 1055 Westlakes Drive, Suite 300, Berwyn, PA 19312. Our telephone number
is 610-727-3913. Our website address is www.annovisbio.com. The information contained in, or accessible through, our website does not
constitute a part of this prospectus.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><A NAME="A16"></A><B>RISK
FACTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Investing in any securities offered pursuant to
this prospectus and the applicable prospectus supplement involves risk. The prospectus supplement applicable to each offering of our securities
will contain a discussion of the risks applicable to an investment in any such securities. Prior to making a decision about investing
in any securities offered, you should carefully consider the specific factors discussed under the heading &#8220;Risk Factors&#8221; in
the applicable prospectus supplement, together with all of the other information contained or incorporated by reference in the prospectus
supplement or appearing or incorporated by reference in this prospectus. You should also consider the risks, uncertainties and assumptions
discussed under the heading &#8220;Risk Factors&#8221; in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports
on Form 10-Q and other documents that we file with the SEC, which are incorporated herein by reference as described in this prospectus
under the heading &#8220;Where You Can Find Additional Information&#8221;. The risks and uncertainties we have described in such documents
are not the only risks that we face. Additional risks and uncertainties not presently known to us may also affect our operations.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><A NAME="A17"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT><B>USE
OF PROCEEDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Except as otherwise provided in the applicable prospectus
supplement relating to a specific offering, we&nbsp;intend to use the net proceeds from the sale of securities by us under this prospectus
and any applicable prospectus supplement for general corporate purposes, which may include working capital, capital expenditures, research
and development expenditures, clinical trial expenditures, acquisitions of new technologies, products or businesses, and investments.
Pending these uses, we expect to invest the net proceeds in short-term, investment-grade securities.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&#8203;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="A18"></A>GENERAL DESCRIPTION OF OUR SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 20pt">We may offer and sell, at any time and from time to time:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8226;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">shares of our common stock;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.25in">&#8226;</TD>
  <TD>shares of our preferred stock;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.25in">&#8226;</TD>
  <TD>warrants to purchase common shares;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.25in">&#8226;</TD>
  <TD>units consisting of a combination of the foregoing securities; or</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.25in">&#8226;</TD>
  <TD>any combination of these securities.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">This prospectus contains summary descriptions of
the common stock, preferred stock, warrants, and&nbsp;units that we may offer and sell from time to time. When particular securities are
offered by us, a supplement to this prospectus will describe the terms of the securities and the extent to which these general descriptions
may apply. These summary descriptions and any summary descriptions in the applicable prospectus supplement are not complete descriptions
of the terms and conditions of each security and are qualified in their entirety by reference to our amended and restated certificate
of incorporation and our amended and restated bylaws which are incorporated by reference in the registration statement of which this prospectus
is a part. Please refer to &#8220;Where You Can Find Additional Information&#8221; below for directions on obtaining these documents.
If any particular terms of a security described in the applicable prospectus supplement differ from any of the terms described in this
prospectus, then the terms described in this prospectus will be deemed superseded by the terms set forth in that prospectus supplement.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><A NAME="A19"></A><B>DESCRIPTION
OF OUR CAPITAL STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Authorized and Outstanding Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Our authorized share capital consists of 37,000,000
shares of capital stock, each with a par value of $0.0001 per share. Of these shares, 35,000,000 shall be common stock and 2,000,000 shall
be preferred stock. As of January&nbsp;29, 2021, there were 6,906,137 shares of common stock outstanding and no shares of preferred stock
outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Voting</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">The holders of our common stock are entitled to
one vote for each share of common stock held on all matters submitted to a vote of stockholders. There is no cumulative voting. An election
of directors by our stockholders shall be determined by a plurality of the votes cast by stockholders entitled to vote in the election.
Subject to the supermajority votes for some matters, other matters shall be decided by the affirmative vote of our stockholders having
a majority in voting power of the votes cast by the stockholders present or represented and voting on such matter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Dividends</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Subject to the rights of holders of all classes
of our stock outstanding having rights that are senior to or equivalent to holders of common stock, the holders of the common stock are
entitled to receive proportionately any dividends when and as declared by our board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Liquidation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">In the event of our liquidation, dissolution or
winding up, the holders of common stock are entitled to receive on a pro&nbsp;rata basis our net assets available for distribution to
stockholders after the payment of all debts and other liabilities, subject to the rights of holders of all classes of our stock outstanding
having rights that are senior to or equivalent to holders of common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Other</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Holders of common stock have no preemptive, subscription, redemption
or conversion rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">All of our outstanding shares of common stock are
fully paid and nonassessable, and any shares of common stock to be issued upon an offering pursuant to this prospectus and the related
prospectus supplement will be fully paid and nonassessable upon issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Under the terms of our amended and restated certificate
of incorporation, our board of directors is authorized to direct us to issue shares of preferred stock in one or more series without stockholder
approval. Our board of directors has the discretion to determine the rights, preferences, privileges and restrictions, including voting
rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, of each series of preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 20pt">We will fix the designations, powers, preferences
and rights of the preferred stock of each series, as well as the qualifications, limitations or restrictions thereon, in the certificate
of designation relating to that series. The applicable prospectus supplement will contain the terms of and other information relating
to the preferred stock which will include, as applicable:</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8226;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the title and stated value;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.25in">&#8226;</TD>
  <TD>the number of shares we are offering;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.25in">&#8226;</TD>
  <TD>the liquidation preference per share;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.25in">&#8226;</TD>
  <TD>the purchase price;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8226;</FONT></TD>
  <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the dividend rate, period and payment date and method of calculation for dividends;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">whether dividends will be cumulative or non-cumulative and, if cumulative, the date from which dividends will accumulate;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the procedures for any auction and remarketing, if any;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the provisions for a sinking fund, if any;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the provisions for redemption or repurchase, if applicable, and any restrictions on our ability to exercise those redemption and repurchase
rights;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">any listing of the preferred stock on any securities exchange or market;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">whether the preferred stock will be convertible into our common stock, and, if applicable, the conversion price, or how it will be calculated,
and the conversion period;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">voting rights, if any, of the preferred stock;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">preemptive rights, if any;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">restrictions on transfer, sale or other assignment, if any;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">whether interests in the preferred stock will be represented by depositary shares;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">a discussion of any material United States federal income tax considerations applicable to the preferred stock;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the relative ranking and preferences of the preferred stock as to dividend rights and rights if we liquidate, dissolve or wind up our
affairs;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">any limitations on the issuance of any class or series of preferred stock ranking senior to or on a parity with the series of preferred
stock as to dividend rights and rights if we liquidate, dissolve or wind up our affairs; and</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">any other specific terms, preferences, rights or limitations of, or restrictions on, the preferred stock.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Our board of directors may authorize the issuance
of preferred stock with voting, conversion or other rights that could adversely affect the voting power or other rights of the holders
of our common stock. Preferred stock could be issued quickly with terms designed to delay or prevent a change in control of our company
or make removal of management more difficult. Additionally, the issuance of preferred stock may have the effect of decreasing the market
price of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B>Registration Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Under our registration rights agreement dated as
of December&nbsp;19, 2014, the holders of approximately 2,273,847 shares of common stock, or their transferees, have the right to require
us to register their shares under the Securities Act so that those shares may be publicly resold, or to include their shares in any registration
statement we file, in each case as further described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B><I>Demand Registration Rights</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Commencing on July&nbsp;29, 2020, if holders of
more than 50% of the securities registerable under the registration rights agreement request us to file a registration statement under
the Securities Act for a public offering of such shares of registrable securities having an aggregate offering price of at least $10,000,000,
we must, within ten days after the receipt of such notice, notify all holders of registrable securities of such request and shall use
its reasonably diligent efforts to register under the Securities Act the registrable securities of all holders who so request within 90&nbsp;days
after the date of our notice; provided, however, that we are obligated to register only shares of common stock pursuant to the agreement.
We are obligated to effect a maximum of two such demand registrations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Piggyback/Incidental
Registration Rights</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Whenever we propose to register any common stock
for our own or others&#8217; account under the Securities Act for a public offering for cash, other than a registration relating to employee
benefit plans, we must give each holder of registrable securities prompt written notice of its intent to do so. Upon the written request
of any such holder given within 10&nbsp;days after receipt of such notice, we will cause to be included in such registration all of the
registrable securities that such holder requests; provided, however, that we are obligated to register only shares of our common stock
pursuant to the agreement. If we are advised in writing by any managing underwriter of the securities being offered pursuant to any registration
statement that the number of shares to be sold by persons other than us is greater than the number of such shares that can be offered
without adversely affecting the offering, we may reduce pro&nbsp;rata the number of shares of registrable securities offered for the accounts
of such persons to a number deemed satisfactory by such managing underwriter; and a managing underwriter will have the right to exclude
registrable securities entirely pursuant to the preceding clause.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B><I>Form S-3 Registration Rights</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">If, at a time when Form S-3 (or any successor thereto)
is available for such registration, we receive from holders of more than 15% of the registrable securities a written request or requests
that we effect a registration on Form S-3 of registrable securities having an aggregate offering price of at least $5,000,000 (based on
the then current public market price), we will promptly give written notice of the proposed registration to all other holders of registrable
securities and, as soon as reasonably practicable, effect such registration and all such related qualifications and compliances as may
be requested and as would permit the sale and distribution of all registrable securities as are specified in such request and any written
requests of other holders given within 10&nbsp;days after receipt of such notice; provided, however, that the Company shall not be obligated
to effect any such registration pursuant to the agreement: (i)&nbsp;if Form S-3 is not available for such offering by the applicable holders;
or (ii)&nbsp;if we furnish to the applicable holders a certificate signed by the chief executive officer stating that in the good faith
judgment of the board of directors, it would be seriously detrimental to us and our stockholders for such Form S-3 registration to be
effected at such time, in which event we will have the right to defer the filing of the Form S-3 registration statement for a period of
not more than 120&nbsp;days after receipt of the request of the holder or holders; provided, however, that we may not utilize this right
more than twice in any 12-month period. We are not obligated to file more than two registrations under this provision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B><I>Other Provisions and Expenses</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">A registrable security will cease to be a registrable
security when (i)&nbsp;a registration statement covering such registrable security has been declared effective by the SEC and it has been
disposed of pursuant to such effective registration statement; or (ii)&nbsp;such registrable security could be sold pursuant to Rule&nbsp;144
(or any successor or comparable provision) without any volume restriction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Other than underwriting discounts and commissions
and certain other expenses, we will be required to pay all expenses incurred by us related to any registration effected pursuant to the
exercise of these registration rights. These expenses may include all registration and filing fees, printing expenses, fees and disbursements
of our counsel, reasonable fees and disbursements of a counsel for the selling securityholders and blue-sky fees and expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B>Anti-Takeover Effects of Delaware Law and Our Certificate of Incorporation
and Bylaws</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Some provisions of Delaware law, our amended
and restated certificate of incorporation and our amended and restated bylaws could make the following transactions more difficult:
an acquisition of us by means of a tender offer; an acquisition of us by means of a proxy contest or otherwise; or the removal of
our incumbent officers and directors. It is possible that these provisions could make it more difficult to accomplish or could deter
transactions that stockholders may otherwise consider to be in their best interest or in our best interests, including transactions
which provide for payment of a premium over the market price for our shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">These provisions, summarized below, are intended
to discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed to encourage persons seeking
to acquire control of us to first negotiate with our board of directors. We believe that the benefits of the increased protection of our
potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us outweigh the disadvantages
of discouraging these proposals because negotiation of these proposals could result in an improvement of their terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B><I>Authorized but Unissued Shares</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Our authorized but unissued shares of common stock
and preferred stock are available for future issuance without stockholder approval. These additional shares may be utilized for a variety
of corporate purposes, including future public offerings to raise additional capital and corporate acquisitions. The existence of authorized
but unissued shares of common stock and preferred stock could render more difficult or discourage an attempt to obtain control of a majority
of our common stock by means of a proxy contest, tender offer, merger or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B><I>Stockholder Meetings</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Any action to be taken by our stockholders must
be effected at a duly called annual or special meeting of stockholders and not be taken by written consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B><I>Requirements for Advance Notification of Stockholder Nominations
and Proposals</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Stockholders seeking to present proposals before
a meeting of stockholders or to nominate candidates for election as directors at a meeting of stockholders must provide advance notice
in writing, and also specify requirements as to the form and content of a stockholder&#8217;s notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B><I>Delaware Anti-Takeover Statute</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We are subject to Section&nbsp;203 of the General
Corporation Law of the State of Delaware, which prohibits persons deemed to be &#8220;interested stockholders&#8221; from engaging in
a &#8220;business combination&#8221; with a publicly held Delaware corporation for three&nbsp;years following the date these persons become
interested stockholders unless the business combination is, or the transaction in which the person became an interested stockholder was,
approved in a prescribed manner or another prescribed exception applies. Generally, an &#8220;interested stockholder&#8221; is a person
who, together with affiliates and associates, owns, or within three&nbsp;years prior to the determination of interested stockholder status
did own, 15% or more of a corporation&#8217;s voting stock. Generally, a &#8220;business combination&#8221; includes a merger, asset or
stock sale, or other transaction resulting in a financial benefit to the interested stockholder. The existence of this provision may have
an anti-takeover effect with respect to transactions not approved in advance by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B><I>Choice of Forum</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">The Court of Chancery of the State of Delaware is
the exclusive forum in which we and our directors may be sued by our stockholders, to the fullest extent permitted by law, for:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8226;</FONT></TD>
  <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">any derivative action or proceeding brought on our behalf;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">any action asserting a breach of fiduciary duty;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">any action asserting a claim against us arising pursuant to the Delaware General Corporation Law, our amended and restated certificate
of incorporation, or our amended and restated bylaws; or</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">or any action asserting a claim against us that is governed by the internal affairs doctrine.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Our amended and restated bylaws will not apply to suits brought
to enforce a duty or liability created by the Securities Act or the Exchange Act, or any other claim for which federal courts have exclusive
jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">These choice of forum provisions may limit a
stockholder&#8217;s ability to bring a claim in a judicial forum that it finds favorable for disputes with us or any of our
directors, officers, or other employees, which may discourage lawsuits with respect to such claims. Alternatively, if a court were
to find either choice of forum provision contained in our amended and restated bylaws to be inapplicable or unenforceable in an
action, we may incur additional costs associated with resolving such action in other jurisdictions, which could harm our business,
results of operations, and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B><I>Advance Notice Requirements</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Our bylaws establish an advance notice procedure
for stockholder proposals to be brought before an annual meeting of our stockholders, including proposed nominations of persons for election
to the board of directors. Stockholders at an annual meeting will only be able to consider proposals or nominations specified in the notice
of meeting or brought before the meeting by or at the direction of the board of directors or by a stockholder who was a stockholder of
record on the record date for the meeting, who is entitled to vote at the meeting and who has given our Secretary timely written notice,
in proper form, of the stockholder&#8217;s intention to bring that business before the meeting. Although our bylaws do not give the board
of directors the power to approve or disapprove stockholder nominations of candidates or proposals regarding other business to be conducted
at a special or annual meeting, our bylaws may have the effect of precluding the conduct of certain business at a meeting if the proper
procedures are not followed or may discourage or deter a potential acquirer from conducting a solicitation of proxies to elect its own
slate of directors or otherwise attempting to obtain control of us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B>The NYSE American</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 20pt">Our common stock is listed on the NYSE American under the symbol &#8220;ANVS.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B>Transfer Agent and Registrar</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">The transfer agent and registrar for our common
stock is American Stock Transfer &amp; Trust Company,&nbsp;LLC.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><A NAME="A20"></A><B>DESCRIPTION
OF OUR WARRANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We may issue warrants to purchase our common stock
and/or preferred stock in one or more series. We may issue warrants independently or together with common stock and/or preferred stock,
and the warrants may be attached to or separate from these securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">The terms of each series of warrants will be contained
in the applicable warrant agreements. The applicable prospectus supplement for the warrants will contain the terms of and other information
relating to the warrants which will include, as applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8226;</FONT></TD>
  <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the offering price and aggregate number of warrants offered;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the currency in which the offering price, if any, and the exercise price are payable;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the designation and terms of the securities with which the warrants are issued and the number of warrants issued with each such security
or each principal amount of such security;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the date on and after which the warrants and the related securities will be separately transferable;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">in the case of warrants to purchase common stock or preferred stock, the exercise price and the number of shares of common stock or preferred
stock, as applicable, to be received upon exercise of the warrants;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the date on which the right to exercise the warrants will begin and the date on which that right will expire or, if the warrants may
not be continuously exercised throughout that period, the specific date or dates on which the warrants may be exercised;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">a discussion of any material United States federal income tax considerations related to the holding or exercise of the warrants;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the identity of the warrant agent for the warrants, if any, and of any other depositaries, execution or paying agents, transfer agents,
registrars or other agents;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">any provisions for changes to or adjustments in the exercise price or number of securities issuable upon exercise of the warrants;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the designation and terms of the securities issuable upon exercise of the warrants;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the minimum or maximum amount of the warrants that may be exercised at any one time;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the anti-dilution provisions of the warrants, if any;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the rights to redeem or call the warrants, if any;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the effect of any merger, consolidation, sale or other disposition of our business on the warrant agreement and the warrants; and</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">any other specific terms, preferences, rights and limitations of or restrictions on the warrants.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Before the exercise of their warrants, holders of
warrants will not have any of the rights of holders of the securities issuable upon exercise. Holders of warrants to purchase common stock
or preferred stock will not be entitled to vote, consent, receive dividends, receive notice as stockholders with respect to any meeting
of stockholders for the election of our directors, receive payments upon our liquidation, dissolution or winding up, or to exercise any
rights whatsoever as our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B>Transfer Agent and Registrar</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">The transfer agent and registrar for any warrants
will be set forth in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><A NAME="A21"></A>DESCRIPTION
OF OUR UNITS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">The following description, together with the
additional information we include in any applicable prospectus supplement, summarizes the material terms and provisions of
the&nbsp;units that we may offer under this prospectus. Units may be offered independently or together with common stock, preferred
stock or warrants offered by any prospectus supplement, and may be attached to or separate from those securities. While the terms we
have summarized below will generally apply to any future&nbsp;units that we may offer under this prospectus, we will describe the
particular terms of any series of&nbsp;units that we may offer in more detail in the applicable prospectus supplement. The terms of
any&nbsp;units offered under an applicable prospectus supplement may differ from the terms described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We will incorporate by reference into the
registration statement of which this prospectus forms a part the form of unit agreement, including a form of unit certificate, if
any, that describes the terms of the series of&nbsp;units we are offering before the issuance of the related series of&nbsp;units.
The following summaries of material provisions of the&nbsp;units, and the unit agreements, are subject to, and qualified in their
entirety by reference to, all the provisions of the unit agreement applicable to a particular series of&nbsp;units. We urge you to
read the applicable prospectus supplements related to the&nbsp;units that we sell under this prospectus, as well as the complete
unit agreements that contain the terms of the&nbsp;units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We may issue&nbsp;units comprised of one or more
of the securities described in this prospectus in any combination. Each unit will be issued so that the holder of the unit is also the
holder of each security included in the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each included
security. The unit agreement, if any, under which a unit is issued may provide that the securities comprising the unit may not be held
or transferred separately, at any time or at any time before a specified date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">The particular terms and provisions of&nbsp;units
offered by an applicable prospectus supplement, and the extent to which the general terms and provisions described below may apply thereto,
will be described in the applicable prospectus supplement filed in respect of such&nbsp;units. This description will include, where applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8226;</FONT></TD>
  <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the designation and aggregate number of&nbsp;units offered;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the price at which the&nbsp;units will be offered;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the rights and obligations of the unit agent, if any;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the currency or currencies in which the&nbsp;units are denominated;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">any provisions of the governing unit agreement that differ from those described below;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the terms of the&nbsp;units and of the securities comprising the&nbsp;units, including whether and under what circumstances those securities
may be held or transferred separately;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the number of securities that may be purchased upon exercise of each unit and the price at which the currency or currencies in which
that amount of securities may be purchased upon exercise of each unit;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">any provisions for the issuance, payment, settlement, transfer, adjustment or exchange of the&nbsp;units or of the securities comprising
the&nbsp;units; and</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">any other material terms of the&nbsp;units.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We reserve the right to set forth in an applicable prospectus
supplement specific terms of the&nbsp;units that are not within the options and parameters set forth in this prospectus. In addition,
to the extent that any particular terms of the&nbsp;units described in an applicable prospectus supplement differ from any of the terms
described in this prospectus, the description of such terms set forth in this prospectus shall be deemed to have been superseded by the
description of the differing terms set forth in such prospectus supplement with respect to such&nbsp;units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><A NAME="A22"></A><B>PLAN
OF DISTRIBUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We may sell the securities, from time to time, to
or through underwriters or dealers, through agents or remarketing firms, or directly to one or more purchasers pursuant to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8226;</FONT></TD>
  <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">underwritten public offerings;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT>&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">negotiated transactions;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">block trades;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">&#8220;At the Market Offerings,&#8221; within the meaning of Rule&nbsp;415(a)(4) of the Securities Act of 1933, as amended, or the Securities
Act, into an existing trading market, at prevailing market prices; or</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">through a combination of these methods.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We may sell the securities to or through one or
more underwriters or dealers (acting as principal or agent), through agents, or directly to one or more purchasers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 20pt">We may distribute securities from time to time in one or more transactions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">at a fixed price or prices, which may be changed;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">at market prices prevailing at the time of sale;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">at prices related to such prevailing market prices; or</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">at negotiated prices.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">A prospectus supplement or supplements (and any
related free writing prospectus that we may authorize to be provided to you) will describe the terms of the offering of the securities,
including, to the extent applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the name or names of the underwriters, dealers or agents, if any;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">if the securities are to be offered through the selling efforts of brokers or dealers, the plan of distribution and the terms of any
agreement, arrangement, or understanding entered into with broker(s) or dealer(s) prior to the effective date of the registration statement,
and, if known, the identity of any broker(s) or dealer(s) who will participate in the offering and the amount to be offered through each;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the purchase price of the securities or other consideration therefor, and the proceeds, if any, we will receive from the sale;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">if any of the securities being registered are to be offered otherwise than for cash, the general purposes of the distribution, the basis
upon which the securities are to be offered, the amount of compensation and other expenses of distribution, and by whom they are to be
borne;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">any delayed delivery arrangements;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">any over-allotment or other options under which underwriters may purchase additional securities from us;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">any agency fees or underwriting discounts and other items constituting agents&#8217; or underwriters&#8217; compensation;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">any public offering price;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">any discounts, commissions or concessions allowed or reallowed or paid to dealers;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">the identity and relationships of any finders, if applicable; and</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify">any securities exchange or market on which the securities may be listed.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">In compliance with the guidelines of FINRA, the
maximum compensation to the underwriters or dealers in connection with the sale by the Company of its securities pursuant to this prospectus
and the accompanying supplement to this prospectus may not exceed 8% of the aggregate offering price of the securities as set forth on
the cover page of any prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Only underwriters named in the prospectus supplement
will be underwriters of the securities offered by the prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">If underwriters are used in the sale, they will
acquire the securities for their own account and may resell the securities from time to time in one or more transactions at a fixed public
offering price or at varying prices determined at the time of sale. The obligations of the underwriters to purchase the securities will
be subject to the conditions set forth in the applicable underwriting agreement. We may offer the securities to the public through underwriting
syndicates represented by managing underwriters or by underwriters without a syndicate. Unless otherwise indicated in the prospectus supplement,
subject to certain conditions, the underwriters will be obligated to purchase all of the securities offered by the prospectus supplement,
other than securities covered by any underwriter&#8217;s option. Any public offering price and any discounts or concessions allowed or
reallowed or paid to dealers may change from time to time. We may use underwriters, dealers or agents with whom we have a material relationship.
We will describe in the prospectus supplement, naming the underwriter, dealer or agent, the nature of any such relationship.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We may use a remarketing firm to offer the securities
in connection with a remarketing arrangement upon their purchase. Remarketing firms will act as principals for their own account or as
agents for us. These remarketing firms will offer or sell the securities pursuant to the terms of the securities. A prospectus supplement
will identify any remarketing firm and the terms of its agreement, if any, with us and will describe the remarketing firm&#8217;s compensation.
Remarketing firms may be deemed to be underwriters in connection the securities they remarket.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">If we offer and sell securities through a dealer,
we or an underwriter will sell the securities to the dealer, as principal. The dealer may then resell the securities to the public at
varying prices to be determined by the dealer at the time of resale. The name of the dealer and the terms of the transaction will be set
forth in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We may sell securities directly or through agents
we designate from time to time. We will name any agent involved in the offering and sale of securities and we will describe any commissions
payable to the agent in the prospectus supplement. Unless the prospectus supplement states otherwise, the agent will act on a best-efforts
basis for the period of its appointment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Dealers and agents participating in the distribution
of the securities may be deemed to be underwriters, and compensation received by them on resale of the securities may be deemed to be
underwriting discounts. If such dealers or agents were deemed to be underwriters, they may be subject to statutory liabilities under the
Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We may sell securities directly to one or more purchasers
without using underwriters or agents. Underwriters, dealers and agents that participate in the distribution of the securities may be underwriters
as defined in the Securities Act, and any discounts or commissions they receive from us and any profit on their resale of the securities
may be treated as underwriting discounts and commissions under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We may authorize agents or underwriters to solicit
offers by certain types of institutional investors to purchase securities from us at the public offering price set forth in the prospectus
supplement pursuant to delayed delivery contracts providing for payment and delivery on a specified date in the future. We will describe
the conditions to these contracts and the commissions we must pay for solicitation of these contracts in the prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We may provide agents, underwriters and dealers
with indemnification against civil liabilities, including liabilities under the Securities Act, or contribution with respect to payments
that the agents, underwriters or dealers may make with respect to these liabilities. Agents, underwriters and dealers, or their respective
affiliates, may engage in transactions with, or perform services for, us in the ordinary course of business.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">The securities we offer may be new issues of securities
and may have no established trading market. The securities may or may not be listed on a securities exchange. Underwriters may make a
market in these securities but will not be obligated to do so and may discontinue any market making at any time without notice. We can
make no assurance as to the liquidity of, or the existence of trading markets for, any of the securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT>&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Any underwriter may engage in over-allotment, stabilizing
transactions, short-covering transactions and penalty bids in accordance with Regulation&nbsp;M under the Securities Exchange Act of 1934,
as amended, or the Exchange Act. Over-allotment involves sales in excess of the offering size, which create a short position. Stabilizing
transactions permit bids to purchase the underlying security so long as the stabilizing bids do not exceed a specified maximum price.
Syndicate-covering or other short-covering transactions involve purchases of the securities, either through exercise of the over-allotment
option or in the open market after the distribution is completed, to cover short positions. Penalty bids permit the underwriters to reclaim
a selling concession from a dealer when the securities originally sold by the dealer are purchased in a stabilizing or covering transaction
to cover short positions. Those activities may cause the price of the securities to be higher than it would otherwise be. If commenced,
the underwriters may discontinue any of the activities at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Any underwriters that are qualified market makers
on the NYSE American may engage in passive market making transactions in the common stock on the NYSE American in accordance with Regulation&nbsp;M
under the Exchange Act, during the business day prior to the pricing of the offering, before the commencement of offers or sales of the
common stock. Passive market makers must comply with applicable volume and price limitations and must be identified as passive market
makers. In general, a passive market maker must display its bid at a price not in excess of the highest independent bid for such security;
if all independent bids are lowered below the passive market maker&#8217;s bid, however, the passive market maker&#8217;s bid must then
be lowered when certain purchase limits are exceeded. Passive market making may stabilize the market price of the securities at a level
above that which might otherwise prevail in the open market and, if commenced, may be discontinued at any time.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="A23"></A><B>LEGAL MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">Unless otherwise specified in a prospectus supplement,
certain legal matters relating to the securities will be passed upon for us by Duane Morris LLP. As appropriate, legal counsel representing
the underwriters, dealers or agents will be named in the accompanying prospectus supplement and may opine to certain legal matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="A24"></A><B>EXPERTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">The financial statements of Annovis Bio, Inc. as
of December&nbsp;31, 2019 and 2018 and for the&nbsp;years then ended have been incorporated by reference herein in reliance upon the report
of WithumSmith+Brown, PC, independent registered public accounting firm, incorporated by reference herein, upon the authority of said
firm as experts in accounting and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="A25"></A><B>WHERE YOU CAN FIND ADDITIONAL INFORMATION;<BR STYLE="clear: both">
INCORPORATION BY REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Available Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We file annual, quarterly and current reports, proxy
statements and other information with the SEC. The SEC maintains an Internet website at http://www.sec.gov that contains reports, proxy
and information statements, and other information regarding issuers that file electronically with the SEC. Our reports on Forms 10-K,
10-Q and 8-K, and amendments to those reports, are also available for download, free of charge, as soon as reasonably practicable after
these reports are filed with, or furnished to, the SEC, at our website at www.annovisbio.com. Information contained on or accessible through
our website is not a part of this prospectus or any prospectus supplement, and the inclusion of our website address in this prospectus
is an inactive textual reference only.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Incorporation by Reference</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">The SEC allows us to &#8220;incorporate by reference&#8221;
into this prospectus the information in other documents that we file with it. This means that we can disclose important information to
you by referring you to those documents. The information incorporated by reference is considered to be a part of this prospectus, and
information in documents that we file later with the SEC will automatically update and supersede information contained in documents filed
earlier with the SEC or contained in this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">We incorporate by reference in this prospectus the
documents listed below and any future filings that we may make with the SEC under Sections&nbsp;13(a), 13(c), 14, or 15(d) of the Exchange
Act in this prospectus, between the date of this prospectus and the termination of the offering of the securities described in this prospectus.
We are not, however, incorporating by reference any documents, information or portions thereof deemed to have been furnished and not filed,
including any information that we disclose under Items&nbsp;2.02 or 7.01 of any Current Report on Form 8-K or related exhibits furnished
pursuant to Item&nbsp;9.01 of Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">This prospectus and any accompanying prospectus
supplement incorporate by reference the documents set forth below that have previously been filed with the SEC:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8226;</FONT></TD>
  <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1477845/000110465920038326/tm2013055d1_10k.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif">our Annual Report on Form 10-K for the year ended December&nbsp;31, 2019, filed
with the SEC on March&nbsp;25, 2020;</FONT></A></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.25in">&#8226;</TD>
  <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">our Quarterly Reports on Form 10-Q for the quarters ended March&nbsp;31, 2020,
June&nbsp;30, 2020 and September&nbsp;30, 2020, filed with the SEC on </FONT><A HREF="http://www.sec.gov/Archives/edgar/data/1477845/000110465920056617/tm2016851-1_10q.htm" STYLE="-sec-extract: exhibit">May&nbsp;5, 2020</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1477845/000155837020008577/anvs-20200630x10q.htm" STYLE="-sec-extract: exhibit">July&nbsp;29, 2020</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/1477845/000155837020012511/anvs-20200930x10q.htm" STYLE="-sec-extract: exhibit">November&nbsp;4, 2020</A>, respectively;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.25in">&#8226;</TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">our Current Reports on Form 8-K as filed with the SEC on </FONT><A HREF="http://www.sec.gov/Archives/edgar/data/1477845/000110465920011925/tm206971d1_8k.htm" STYLE="-sec-extract: exhibit">February&nbsp;6, 2020</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1477845/000110465920042855/tm2014902-1_8k.htm" STYLE="-sec-extract: exhibit">April&nbsp;3, 2020</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1477845/000110465920070148/tm2021835-1_8k.htm" STYLE="-sec-extract: exhibit">June&nbsp;5, 2020</A>, and <A HREF="http://www.sec.gov/Archives/edgar/data/1477845/000110465920071084/tm2022100-1_8k.htm" STYLE="-sec-extract: exhibit">June&nbsp;9, 2020</A> (except information included pursuant to Items&nbsp;2.02 or 7.01 and
exhibits related to such items);</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.25in">&#8226;</TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the information specifically incorporated by reference into our Annual Report
on Form 10-K for the year ended December&nbsp;31, 2019 from our </FONT><A HREF="http://www.sec.gov/Archives/edgar/data/1477845/000110465920050820/tm2016103d2_def14a.htm" STYLE="-sec-extract: exhibit">Definitive Proxy Statement on Schedule&nbsp;14A, filed with the SEC on April&nbsp;24, 2020</A> (other than the portions thereof that are furnished and not filed); and</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 40; Value: 1 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 97%; margin-left: 20pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226; </FONT></TD>
  <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1477845/000110465920007323/tm199635-12_8a12b.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif">the description of our capital stock contained in our registration statement
on Form 8-A filed with the SEC on January&nbsp;28, 2020, including any amendment or report filed for purposes of updating such description.</FONT></A></TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 20pt">You may request, orally or in writing,
a copy of any or all of the documents incorporated herein by reference. These documents will be provided to you at no cost, by contacting:
Annovis Bio, Inc., 1055 Westlakes Drive, Suite 300, Berwyn, Pennsylvania 19312. In addition, copies of any or all of the documents incorporated
herein by reference may be accessed at our website at www.annovisbio.com. The information on such website is not incorporated by reference
and is not a part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 69.65pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 69.65pt; text-indent: 20pt"></P>

<!-- Field: Page; Sequence: 41; Value: 1 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 69.65pt; text-indent: 20pt"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Up to $50,000,000</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2310905d1_424b5img001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 26%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; white-space: nowrap"><P STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>P
                                            R O S P E C T U S &#8239;&#8239;S U P P L E M E N T</B></FONT></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>BofA Securities</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>ThinkEquity</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>March&nbsp;31,
2023</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<HTML>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 107</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The prospectus supplement to which this Exhibit is attached is a final
prospectus for the related offering of equity securities. The maximum aggregate offering price  is $50,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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