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Sep 30, 2024
Annexon Q3 2024 Earnings Report
Annexon reported third quarter 2024 financial results and highlighted portfolio progress.
Key Takeaways
Annexon's third quarter 2024 results highlighted the company's progress in its clinical programs, including ANX005, ANX007, and ANX1502. The company's cash, cash equivalents, and short-term investments totaled $340.1 million as of September 30, 2024, which is expected to fund operations into the second half of 2026.
Topline RWE data for ANX005 in GBS is expected by year-end 2024, with a BLA submission targeted for the first half of 2025.
Enrollment is ongoing in the Phase 3 ARCHER II trial for ANX007 in GA, with topline data expected in the second half of 2026.
A proof-of-concept study with the oral C1s inhibitor ANX1502 transitioned to an enhanced tablet formulation, with data in CAD expected in the first quarter of 2025.
The company's balance sheet is robust, with cash, cash equivalents, and short-term investments of approximately $340 million as of September 30, 2024, anticipated to provide runway into the second half of 2026.
Forward Guidance
Annexon anticipates several key milestones for its flagship programs.
Positive Outlook
- ANX005 in GBS: Initial topline data from RWE comparability protocol with IGOS expected by year-end 2024 to support a planned BLA submission in the first half of 2025
- ANX007 in GA: Phase 3 ARCHER II trial topline data expected in the second half of 2026.
- ANX1502 in CAD: Initial data from POC trial evaluating the pharmacodynamics of an oral tablet formulation in CAD expected in the first quarter of 2025
Historical Earnings Impact
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