Annexon Secures $225M Runway, Q4 2026 Topline Phase 3 Data Expected
ANNX•Annexon ended Q1 2026 with $225 million in cash, cash equivalents and short-term investments, expecting funding into the second half of 2027. The company anticipates topline ARCHER II Phase 3 vonaprument data in Q4 2026, BLA submission for tanruprubart in 2026 and POC results for ANX1502.
1. First Quarter 2026 Financial Highlights
Annexon reported $225.0 million in cash, cash equivalents and short-term investments as of March 31, 2026, and expects this funding to support operations into the second half of 2027. Research and development expenses declined to $35.8 million from $48.2 million a year earlier, reflecting focused investment in late-stage programs.
2. Vonaprument Phase 3 ARCHER II Progress
The global ARCHER II trial, which enrolled 659 geographic atrophy patients by July 2025, is evaluating the proportion of patients with confirmed 15-letter visual acuity loss at month 15. Topline data are anticipated in Q4 2026, and vonaprument holds both EMA PRIME and FDA Fast Track designations for vision preservation.
3. Tanruprubart GBS Therapy Development
European marketing authorization application for tanruprubart is under review as a potential first targeted therapy for Guillain-Barré syndrome, impacting some 150,000 patients annually. The ongoing U.S./EU FORWARD study is enrolling Western and pediatric patients to assess pharmacokinetics, pharmacodynamics, functional outcomes and safety ahead of a planned BLA submission in 2026.
4. ANX1502 Oral C1 Inhibitor Proof-of-Concept
ANX1502, a first-in-kind oral C1s inhibitor targeting autoimmune diseases, is in a proof-of-concept trial assessing pharmacokinetics, pharmacodynamics and markers of hemolysis in cold agglutinin disease patients. Initial POC data are expected during 2026 to support further development decisions.
