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Dec 31, 2020
Annexon Q4 2020 Earnings Report
Annexon reported fourth quarter and full-year 2020 financial results and business highlights.
Key Takeaways
Annexon reported a net loss of $23.2 million for the quarter ended December 31, 2020, compared to a net loss of $8.9 million for the quarter ended December 31, 2019. The company's cash and cash equivalents and short-term investments were $351.2 million as of December 31, 2020.
Completed evaluation of drug-drug interaction study of ANX005 co-administered with Intravenous Immunoglobulin (IVIg) in 14 patients with GBS.
Initiated a Phase 2 trial evaluating the efficacy of ANX007 in reducing the area of GA in patients with GA.
Appointed William H. Carson, M.D. to the Board of Directors.
Thomas G. Wiggans was appointed as Annexon’s chairman.
Annexon
Annexon
Forward Guidance
Annexon is rapidly advancing multiple Phase 2 clinical programs across a diverse set of potential indications, and accelerating development of a number of innovative, next generation product candidates. This clinical momentum coupled with our strong capital position positions us well to drive value in 2021 and beyond.
Positive Outlook
- Advancement of the company’s clinical and preclinical programs
- Timing of data from clinical trials and submission of data to peer-reviewed forums
- Confidence in the company’s product candidates
- The company’s ability to drive value in 2021 and beyond
- Implementation of the company’s business model and strategic plans for its business and product candidates, including potential treatment indications and additional indications that the company may pursue
Challenges Ahead
- The company’s history of net operating losses
- The company’s ability to obtain necessary capital to fund its clinical programs
- The early stages of clinical development of the company’s product candidates
- The effects of COVID-19 or other public health crises on the company’s clinical programs and business operations
- The company’s ability to obtain regulatory approval of and successfully commercialize its product candidates