Annexon, Inc. Stock Price, News & Analysis

Annexon announced a proposed public offering of $125 million in common stock. The company may also grant underwriters an option to purchase an additional $18.75 million in shares. The offering's completion is uncertain and subject to market conditions. J.P. Morgan, Jefferies, TD Cowen, BofA Securities, and Wells Fargo Securities will act as joint book-running managers. Shares will be offered under a shelf registration statement filed with the SEC. The final terms will be disclosed in a forthcoming final prospectus supplement.

Annexon announced positive results from its Phase 3 trial of ANX005 in Guillain-Barré syndrome (GBS). The trial showed a significant 2.4-fold improvement in the GBS-disability scale at week 8 with a 30 mg/kg dose (p=0.0058). Secondary endpoints, including muscle strength and nerve damage, also improved. ANX005 was well-tolerated with mild side effects. A real-world evidence study and regulatory submissions are expected by 2025. The company plans to present detailed data at an upcoming conference.

Annexon Biosciences, a clinical-stage biopharmaceutical company focused on complement-based medicines, will host a conference call and webcast on Tuesday, June 4, 2024, at 8:30 a.m. ET. The event will discuss the results of their Phase 3 clinical trial for a treatment targeting Guillain-Barré Syndrome (GBS). Interested parties in the U.S. and Canada can dial 1-877-407-0784, while international participants can use 1-201-689-8560. The conference ID is 13747058, and a live webcast and replay will be available on Annexon's website.

Annexon, a clinical-stage biopharmaceutical company, announced inducement grants for two new non-executive employees under its 2022 Employment Inducement Award Plan. Approved on May 11, 2024, in line with Nasdaq Listing Rule 5635(c)(4), these equity awards include options to purchase 52,590 shares of Annexon’s common stock. These options have a ten-year term, an exercise price of $4.50 per share (the closing price on May 15, 2024), and vest over four years. Specifically, 25% of the shares vest on the first anniversary of the grant date, with an additional 1/48th vesting monthly thereafter, provided the employees continue their service through the vesting dates.

Annexon, Inc. reported its first quarter 2024 financial results, highlighting multiple value-creating catalysts in their portfolio. Key anticipated milestones include Phase 3 data for ANX005 in Guillain-Barré Syndrome, Phase 3 trial initiation for ANX007 in Geographic Atrophy, and proof-of-concept data for ANX1502 in Chronic Autoimmune Conditions. The company boasts a strong balance sheet with cash of $264.9 million as of March 31, 2024.

Annexon, a biopharmaceutical company, will present at the Bank of America Health Care Conference. President and CEO, Douglas Love, will discuss the company's late-stage clinical platform for neuroinflammatory diseases. The event will be live-streamed on May 14, 2024, at 8:40 a.m. PT.

Annexon presented new data at the ARVO 2024 Annual Meeting showcasing ANX007's significant protection against vision loss in patients with geographic atrophy. The drug demonstrated preservation of key retinal structures, reduction of photoreceptor and RPE loss, and promising preclinical results supporting its mechanism of action. Plans for Phase 3 trials in 2024 were announced, highlighting the drug's potential to deliver functional benefits to patients.

Annexon, Inc. (Nasdaq: ANNX) will present data at the ARVO 2024 Annual Meeting showcasing the neuroprotective effects of ANX007 and C1q inhibition in Geographic Atrophy. The Phase 2 ARCHER trial results will be discussed, highlighting the protection of visual acuity and anatomical structure with ANX007 treatment. New preclinical data on the role of C1q in photoreceptor synapse elimination and the protective effects of C1q blockade in GA will also be presented.