Annexon Biosciences Q2 net loss widens, cash runway extended

Annexon

12/08/2026 11:12

Overview
U.S. neuroinflammatory drug developer's Q2 net loss widened yr/yr, loss per share rose
Cash and investments totaled $209.2 mln, runway extended into 2028 with new credit facility
Company increased R&D and G&A expenses due to clinical trials and consulting costs

Outlook
Annexon expects BLA submission for tanruprubart in GBS in Q4 2026
Company sees Month 15 primary endpoint data for vonaprument in GA in Q4 2026
Annexon anticipates proof-of-concept data for ANX1502 in CAD in Fall 2026

Result Drivers
R&D SPENDING - Higher R&D expenses mainly due to Phase 3 ARCHER II trial of vonaprument in GA and contract manufacturing costs for product candidates
G&A COSTS - Increased general and administrative expenses driven by consulting and professional services for registrational programs

Company press release: ID:nGNX70PCZy

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Loss Per Share
 
$0.28
 
Q2 Net Loss
 
$55.35 mln
 
Q2 Cash & Investments
 
$209.20 mln
 
Q2 Income From Operations
 
-$57.23 mln
 
Q2 Loss Per Basic Share
 
$0.28
 
Q2 Operating Expenses
 
$57.23 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 1 "hold" and 1 "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 $13.00, about 143.4% above its August 11 closing price of $5.34

Reuters Recommended Reads
Aug 11 - Coya Therapeutics Q2 net loss widens as R&D costs rise
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Aug 11 - Neurogene Q2 adjusted loss per share misses estimates on employee costs

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(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.)