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Jun 30, 2022
Annexon Q2 2022 Earnings Report
Annexon reported second quarter 2022 financial results and outlined progress across its broad pipeline.
Key Takeaways
Annexon reported a net loss of $37.1 million, or $0.96 per share, for the quarter ended June 30, 2022. The company's cash and cash equivalents were $177.6 million as of June 30, 2022, and with the proceeds from a recent financing, they expect to fund operations into the second half of 2025.
Phase 1 clinical trials initiated for ANX1502 and ANX105.
FDA granted Fast Track designation to ANX007 for geographic atrophy (GA).
Final data from Phase 2 clinical trial of ANX005 demonstrated upstream classical complement inhibition associated with clinical benefit in Huntington’s Disease.
Operating runway extended into the second half of 2025 following $130 million private placement.
Annexon
Annexon
Forward Guidance
Annexon anticipates several potential catalysts across its pipeline throughout 2022 and 2023.
Positive Outlook
- Initial data from its ongoing Phase 2 trial in patients with wAIHA in the second half of 2022
- Data from its ongoing Phase 2/3 trial in patients with GBS in 2023
- Data from its ongoing Phase 2 trial in patients with ALS in 2023
- Initial data from its ongoing Phase 2 trial in patients with GA in the first half of 2023, with additional data after the conclusion of the six-month off-treatment period in the second half of 2023
- Initial data from its Phase 1b trial in patients with lupus nephritis in the second half of 2022, with full data in 2023
Challenges Ahead
- First-in-human data from its ongoing Phase 1 trial of ANX1502 in 2023
- First-in-human data from its ongoing Phase 1 trial of ANX105 in 2023