Annexon slumps as eye disease therapy fails in mid-stage study

Annexon

24/05/2023 23:28

** Shares of drug developer Annexon Inc  ANNX.O  fall ~20%
to $4.18 after the bell 
    ** Company says its experimental therapy to treat a type of
eye disease that affects central vision failed to reduce growth
of lesions in a mid-stage study    
    ** The drug candidate, ANX007, is being developed as a
complementary therapy to treat geographic atrophy, an eye
condition that affects the retina    
    ** ANX007, however, achieved statistically significant
protection against vision loss -ANNX 
    ** Company plans to engage with regulatory agencies to
determine optimal path forward for ANX007
    ** Up to last close, shares remained flat YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))