Drug developer Annexon slips after $75 million capital raise

Annexon

13/11/2025 17:31

** Drug developer Annexon's ANNX.O shares fall as much as 10.6%; last down 6.2% at $2.67

** Late Wednesday, ANNX announced pricing of a $75 million public offering of its common stock and pre-funded warrants

** ANNX sold ~25.1 million shares and pre-funded warrants to purchase 3.75 million shares of common stock at a purchase price of $2.60 apiece

** Offering priced at 8.5% discount to stock's last close

** ANNX had 115.1 million outstanding shares as of September 30, according to offering prospectus

** Goldman Sachs, TD Cowen and Wells Fargo Securities were joint book-running managers for offering

** As of last close, ANNX stock down 44.6% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))