Annexon reports Q2 EPS (47c), consensus (54c)

Cash and cash equivalents and short-term investments were $192.9M as of June 30. Based on the current operating plan, Annexon continues to expect this resources to be sufficient to fund the company’s planned operating expenses into 2025. “This quarter, we made meaningful progress across our clinical-stage portfolio of medicines, which are squarely focused on stopping classical complement’s aggressive inflammatory cascade where it starts on diseased tissue to provide the most complete protection against this harmful inflammation and its resulting damage,” said Douglas Love, president and CEO of Annexon. “Following our recent ARCHER data, we now have clinical proof-of-concept in three difficult-to-treat diseases: Guillain-Barre Syndrome, Huntington’s disease and geographic atrophy. Together, these data demonstrate the differentiated mechanism of inhibiting C1q to provide functional benefits for patients living with complement-mediated diseases. As we look ahead, we remain focused on executing toward important near-term milestones, including for our pivotal GBS program and oral small molecule program, in the second half of 2023. We look forward to providing additional updates on our progress and plans at our R&D Day later this year.”