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Annexon — Third Quarter 2026 Earnings Summary

  • Net loss narrowed to $51.2 million ($0.25/share) from $54.9 million ($0.37/share) in Q3 2025, driven by a 8.4% reduction in total operating expenses to $52.2 million, while cash and investments stood at $213.4 million providing a runway into 2028.
  • Announced a strategic credit facility with Oxford Finance LLC totaling up to $200 million, with an initial $50 million drawn and an additional $100 million available upon achieving specific milestones for tanruprubart and vonaprument.
  • Tanruprubart U.S. BLA submission is anticipated in Q4 2026, while the ARCHER II Phase 3 trial for vonaprument is expected to assess its Month 15 primary endpoint in Q4 2026, with full trial completion projected for Q3 2027.
  • Balance sheet liabilities increased to $107.6 million from $65.9 million as of year-end 2025, primarily due to the inclusion of the new term loan, reducing stockholders' equity to $142.8 million.
Company
ANNEXON INC
Sector
Healthcare
Industry
Biotechnology