Annexon Reports Fourth Quarter and Year-End 2024 Financial Results, Portfolio Progress and Key Anticipated Milestones

Core Insights - Annexon, Inc. is advancing its late-stage clinical platform with promising therapies for neuroinflammatory diseases, focusing on three flagship programs: ANX005 for Guillain-Barré Syndrome (GBS), ANX007 for dry age-related macular degeneration (AMD) with geographic atrophy (GA), and ANX1502 for autoimmune conditions [2][3][9] Group 1: Clinical Programs - ANX005 is a first-in-kind monoclonal antibody designed to block C1q, showing early and durable functional improvements in GBS patients, with a pre-BLA meeting targeted for the first half of 2025 [2][3][8] - ANX007 has established a groundbreaking global registration path to potentially be the first approved treatment for dry AMD with GA in Europe and the U.S., with Phase 3 ARCHER II data expected in the second half of 2026 [2][8] - ANX1502 is an oral small molecule currently in a proof-of-concept trial for cold agglutinin disease, with data from an expanded dataset of up to seven patients expected by mid-2025 [2][3][8] Group 2: Financial Performance - As of December 31, 2024, the company reported cash, cash equivalents, and short-term investments of approximately $312 million, providing a runway into the second half of 2026 [7][11] - Research and development expenses for Q4 2024 were$43.4 million, up from $23.3 million in Q4 2023, reflecting the advancement of priority programs [11][13] - The net loss for the year ended December 31, 2024, was$138.2 million, compared to $134.2 million in 2023, indicating ongoing investment in clinical development [11][13] Group 3: Market Context - GBS affects at least 150,000 people worldwide annually, with no FDA-approved therapies currently available, highlighting a significant unmet medical need [8] - Dry AMD with GA is a leading cause of blindness, affecting over 8 million patients globally, with no approved therapies targeting vision preservation [8]