Annexon Reports Third Quarter 2024 Portfolio and Financial Results, and Key Anticipated Milestones

Core Insights - Annexon, Inc. is advancing its late-stage clinical platform for neuroinflammatory diseases, with key data expected for ANX005 in Guillain-Barré Syndrome (GBS) by year-end 2024 and a Biologics License Application (BLA) submission targeted for the first half of 2025 [1][2][9] Clinical Program Updates - ANX005 in GBS: The program is expected to provide significant data supporting its potential as the first targeted therapy for GBS, with positive topline Phase 3 data showing statistically significant effects on the GBS-disability scale [4][5] - ANX007 in Geographic Atrophy (GA): The ongoing Phase 3 ARCHER II trial is designed to assess vision protection, with topline data expected in the second half of 2026 [1][7] - ANX1502 for Cold Agglutinin Disease (CAD): Transitioned to an enhanced tablet formulation, with data expected in the first quarter of 2025 [1][8] Financial Overview - As of September 30, 2024, the company reported cash, cash equivalents, and short-term investments of approximately $340 million, providing a financial runway into the second half of 2026 [1][10] - Research and development expenses for Q3 2024 were $30.1 million, an increase from $27.9 million in Q3 2023, reflecting ongoing advancements in priority programs [10] - The net loss for Q3 2024 was $34.8 million, or $0.25 per share, compared to a net loss of $32.5 million, or $0.43 per share, in Q3 2023 [10][14] Leadership and Strategic Focus - The company has strengthened its senior leadership team in commercial, medical affairs, and health economics to support its global late-stage neuroinflammatory-targeted portfolio [3] - The focus remains on delivering therapies that target C1q, a key driver of neuroinflammatory diseases, with a commitment to helping patients live their best lives [3][11]