Annexon Biosciences Q3 net loss narrows as cash runway extends to 2028
ANNX•Annexon Biosciences reported a third-quarter net loss of $51.22 million and $213 million in cash and investments, with its cash runway expected to extend into 2028. Research and development expenses fell, while general and administrative costs increased.
1. Quarterly results
Annexon Biosciences’ third-quarter net loss narrowed from a year earlier. The company reported a loss of $51.22 million, or $0.25 per basic share, and operating expenses of $52.24 million.
2. Expenses and cash
Research and development expenses declined mainly because contract manufacturing costs for tanruprubart regulatory filings had been completed, partly offset by continued development of vonaprument in GA. General and administrative expenses increased with higher consulting, professional services, compensation and personnel-related costs. Annexon ended the quarter with $213 million in cash and investments and expects its runway to fund operations and milestones into 2028.
3. Program milestones
The company expects to submit a biologics license application for tanruprubart in Guillain-Barré syndrome in the fourth quarter of 2026. It also expects the ARCHER II Phase 3 Month 15 primary endpoint assessment for vonaprument in the fourth quarter of 2026.
