Annexon, Inc. (NASDAQ:ANNX) Stock Update and Financial Highlights

• Piper Sandler updated its rating for NASDAQ:ANNX to Neutral, with the stock price slightly decreasing by approximately 1.98%.
• Annexon is making significant progress in its portfolio, including a key FDA meeting for Tanruprubart and the initiation of the FORWARD study.
• The company reported $263.7 million in cash, cash equivalents, and short-term investments, providing a financial runway into the second half of 2026.

Annexon, Inc. (NASDAQ:ANNX) is a biopharmaceutical company focused on developing therapies for autoimmune and neurodegenerative diseases. The company is working on several promising treatments, including Tanruprubart for Guillain-Barré Syndrome and ANX007 for Dry Age-related Macular Degeneration. Annexon competes with other biotech firms in the race to develop innovative treatments for these conditions.

On May 13, 2025, Piper Sandler updated its rating for NASDAQ:ANNX to Neutral, maintaining a hold action. At that time, the stock price was $1.74. Currently, the stock price is $1.735, reflecting a slight decrease of approximately 1.98%. The stock has traded between $1.71 and $1.84 today, with a market capitalization of around $190.35 million.

Annexon has made significant progress in its portfolio, as highlighted by its recent financial results for the first quarter of 2025. A key FDA meeting is scheduled for the second quarter of 2025 regarding Tanruprubart, the first potential targeted therapy for Guillain-Barré Syndrome. This meeting is a precursor to the planned Biologics License Application submission.

The company is also initiating the open-label Tanruprubart FORWARD study in North America and Europe in the second quarter of 2025. This study aims to broaden the experience of patients and the healthcare community. Additionally, the accelerated enrollment in the Phase 3 ARCHER II trial for ANX007 is on track for completion in the third quarter of 2025.

Financially, Annexon reported $263.7 million in cash, cash equivalents, and short-term investments as of March 31, 2025. This financial position is expected to support the company's late-stage milestones for its lead programs and provide a financial runway into the second half of 2026. The trading volume for NASDAQ:ANNX is 487,976 shares on the NASDAQ exchange.