Loading...
•
Sep 30, 2022
Annexon Q3 2022 Earnings Report
Reported third quarter financial results and plans to provide updates on complement therapeutic portfolio in January 2023.
Key Takeaways
Annexon reported a net loss of $35.1 million, or $0.51 per share, for the third quarter of 2022. The company's cash and cash equivalents were $269.5 million as of September 30, 2022, which is expected to fund operations into the second half of 2025.
Company to provide portfolio updates across autoimmune, neurodegeneration and ophthalmology therapeutic franchises in early January.
Presentations at upcoming scientific conferences highlight company’s novel approach to treating complement-mediated diseases of the body, brain and eye.
Company well-funded with operating runway into the second half of 2025.
Phase 2 data support the continued advancement of ANX005 for the treatment of HD, and the company plans to engage with regulators on next steps for the program by year-end.
Forward Guidance
Annexon plans to provide updates and outline anticipated milestones across its business and portfolio of complement-targeted therapies in January 2023. Initial data from the ARCHER trial are anticipated in the first half of 2023, with full data after the conclusion of the six-month off-treatment period in the second half of 2023.
Positive Outlook
- With compelling clinical and biomarker data from ANX005 in both Guillain-Barré Syndrome (GBS) and Huntington’s disease (HD), the company is enthusiastic about its future as it advance a late-stage GBS trial and prepare to initiate a late-stage HD trial.
- The company is on-track to evaluate data in December from multiple signal-finding studies in autoimmune franchise, as well as safety and target engagement data with ANX1502, which is progressing well through Phase 1 dose-escalation.
- ANX007 has demonstrated target engagement and tissue penetration preclinically and in patients.
- The Phase 2 ARCHER trial of ANX007 for geographic atrophy (GA) is underway, which enrolled patients with baseline characteristics consistent with those who have benefited from other complement therapies.
- The company plans to engage with regulators on next steps for ANX005 program by year-end.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...