Annexon Biosciences Q1 net loss narrows as expenses decline

Annexon

07/05/2026 21:34

Overview

US biopharma firm's Q1 net loss narrowed yr/yr as operating expenses declined

Cash and investments totaled $225 mln at March 31, with runway into second half 2027

Company expects ARCHER II Phase 3 trial data and proof-of-concept data for ANX1502 in 2026

Outlook

Annexon expects topline Phase 3 vonaprument data for GA in Q4 2026

Company anticipates BLA submission for tanruprubart in GBS with FORWARD data in 2026

Annexon expects proof-of-concept data for ANX1502 in autoimmune disease in 2026

Result Drivers

R&D SPENDING - Lower research and development expenses attributed to Phase 3 ARCHER II trial progress, global regulatory filings for tanruprubart, and contract manufacturing costs

G&A COSTS - Higher general and administrative expenses due to ongoing corporate consulting and professional services

Company press release: ID:nGNX22kGk

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
-$44.14 mln
Q1 Basic EPS
-$0.23
Q1 Cash & Investments
$225 mln
Q1 Income From Operations
-$46.05 mln
Q1 Operating Expenses
$46.05 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for Annexon Inc is $14.00, about 145.6% above its May 6 closing price of $5.70

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)