From GlobeNewswire: 2024-05-13 08:00:00

Annexon, Inc. is making significant progress across its portfolio in 2024. Phase 3 data for ANX005 in Guillain-Barré Syndrome expected in Q2 could lead to the first targeted treatment for GBS. New Phase 2 data for ANX007 in Geographic Atrophy shows neuroprotection of vision, with Phase 3 trial initiation in mid-2024. Clinical proof of concept data for ANX1502 expected in the second half of 2024. The company had a robust balance sheet with approximately $264.9 million as of March 31, 2024, providing funding into mid-2026. Annexon is focusing on developing therapies for classical complement-mediated neuroinflammatory diseases affecting the body, brain, and eye. President and CEO Douglas Love highlighted the potential value of ANX005, ANX007, and ANX1502 in treating these conditions in 2024. Flagship programs include ANX005 for GBS, ANX007 for GA, and ANX1502 for autoimmune conditions. Key anticipated milestones for 2024 include Phase 3 data for ANX005 and ARCHER II trial initiation for ANX007. Financially, Annexon had cash and short-term investments of $264.9 million as of March 31, 2024, with sufficient funds to support operations until mid-2026. Research and development expenses were $21.0 million for the first quarter of 2024, down from $32.3 million in the same period the previous year. General and administrative expenses were $7.6 million, compared to $8.9 million in Q1 2023. Net loss was $25.2 million for Q1 2024, or $0.21 per share, an improvement from $38.7 million or $0.52 per share in Q1 2023. Annexon Biosciences is dedicated to advancing innovative therapies targeting classical complement-mediated neuroinflammatory diseases to provide meaningful benefits to patients. With promising data in various diseases, Annexon aims to accelerate the development of potential treatments for those in need.



Read more at GlobeNewswire:: Annexon Reports First Quarter 2024 Financial Results and