Annexon Reports Q2 2026 Financials and Clinical Trial Updates
Annexon (ANNX) reported second-quarter financial results for 2026, showing a net loss of $55.3 million compared to $49.2 million in the prior year period. The increase was driven by higher R&D expenses due to Phase III trial costs and contract manufacturing. Management also announced a new $200 million credit facility with Oxford Finance, which will help extend its cash runway into 2028. The company is advancing late-stage clinical programs for geographic atrophy (GA) and Guillain-Barré syndrome (GBS). The Phase III ARCHER II trial exceeded enrollment targets by enrolling 659 patients. Tanruprubart, Annexon's GBS therapy, showed rapid improvement in mobility within four days of treatment across a diverse patient cohort. A Biologics License Application is expected to be submitted in Q4 2026. The GA program includes an expanded month-24 primary endpoint analysis and demonstrated strong trial compliance and retention rates.
Tickers: $ANNX
Topics: cash balance clinical trial progress credit facility G&A expenses net loss R&D expenses