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Dec 31, 2021
Annexon Q4 2021 Earnings Report
Annexon reported fourth quarter and full year 2021 financial results, highlighting multiple value-creating catalysts across its complement-targeted portfolio anticipated through 2023 and encouraging interim data from a Phase 2 study of ANX005 for Huntington’s Disease.
Key Takeaways
Annexon reported a net loss of $37.4 million for the fourth quarter of 2021. The company's cash and cash equivalents and short-term investments were $242.7 million as of December 31, 2021, expected to fund operating plans into the first quarter of 2024. The company is advancing its pipeline across three therapeutic franchises, with numerous clinical data readouts and new study initiations anticipated over the course of 2022 and 2023.
Reported encouraging interim data from Phase 2 study of ANX005 for Huntington’s Disease, with full data expected in the second quarter of 2022.
Announced safety and dose-response data from Phase 1 clinical trial of ANX009 at the ASH Annual meeting in December 2021.
Appointed Dr. Bettina Cockroft to the Annexon board of directors in February 2022.
Cash and investments totaled $243 million at the end of 2021, providing an operating runway into the first quarter of 2024.
Forward Guidance
Annexon anticipates several milestones across its autoimmune, neurodegeneration, and ophthalmology programs.
Positive Outlook
- Report data from Phase 2 trial of ANX005 in patients with warm autoimmune hemolytic anemia (wAIHA) in the second half of 2022
- Report initial data from Phase 1b trial of ANX009 in patients with lupus nephritis in the second half of 2022
- Initiate first-in-human trial of ANX1502 in the second half of 2022, with data expected in 2023
- Report data from Phase 2/3 trial of ANX005 in patients with Guillain-Barré Syndrome (GBS) in 2023
- Report data from Phase 2 trial of ANX005 in patients with HD in the second quarter of 2022
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