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Mar 31, 2022
Annexon Q1 2022 Earnings Report
Annexon reported first quarter 2022 financial results and highlighted portfolio progress.
Key Takeaways
Annexon reported a net loss of $35.4 million for the quarter ended March 31, 2022. The company's cash and cash equivalents were $206.7 million as of March 31, 2022, which is expected to fund operating plans into 2024. The company anticipates eight clinical catalysts across its pipeline throughout 2022 and 2023.
Advanced five drug candidates with distinct routes of administration and dosing schedules.
Phase 2 trial in Huntington's disease has completed the six-month treatment period and three-month follow-up period, with data anticipated in the second quarter of 2022.
Phase 2 ARCHER trial for ANX007 fully enrolled with initial data anticipated in the first half of 2023.
Initiated first-in-human trial of ANX105 in the second quarter of 2022, with data expected in 2023.
Annexon
Annexon
Forward Guidance
Annexon expects its current cash position to fund its operating plans into 2024 and anticipates multiple clinical data readouts throughout 2022 and 2023.
Positive Outlook
- Phase 2 trial in patients with HD has completed the six-month treatment period and three-month follow-up period, with data anticipated in the second quarter of 2022
- Phase 2 trial in patients with wAIHA was initiated, with initial data anticipated in the second half of 2022
- Phase 2/3 trial in patients with GBS is underway, with data anticipated in 2023
- Phase 2 trial in patients with ALS is underway, with data anticipated in 2023
- Initial data from Phase 1b trial in patients with LN is anticipated in the second half of 2022
Challenges Ahead
- The company has a history of net operating losses
- The company's product candidates are in early stages of clinical development
- The company relies on third-party suppliers and manufacturers
- The company needs to obtain necessary capital to fund its clinical programs
- The company's ability to obtain regulatory approval of and successfully commercialize its product candidates