Annexon, Inc. Files 2023 Annual Report on Form 10-K

Ticker: ANNX · Form: 10-K · Filed: Mar 26, 2024 · CIK: 1528115

Sentiment: neutral

Topics: 10-K, Annexon, ANNX, Biotech, Financials

TL;DR

<b>Annexon, Inc. has filed its 2023 annual report (10-K) detailing its financial status and corporate structure.</b>

AI Summary

Annexon, Inc. (ANNX) filed a Annual Report (10-K) with the SEC on March 26, 2024. Annexon, Inc. filed its 2023 Form 10-K on March 26, 2024. The company is incorporated in Delaware and its fiscal year ends on December 31. Annexon's principal business address is in Brisbane, California. The filing includes data related to stock options, restricted stock units, and pre-funded warrants. The report details various financial instruments and equity-based compensation plans.

Why It Matters

For investors and stakeholders tracking Annexon, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Annexon's financial performance and operational details for the fiscal year ending December 31, 2023, which is crucial for investors to assess the company's health and future prospects. The detailed breakdown of equity awards, such as stock options and RSUs, offers insight into the company's compensation strategy and potential dilution for shareholders.

Risk Assessment

Risk Level: medium — Annexon, Inc. shows moderate risk based on this filing. The company's financial health and ability to fund ongoing research and development are critical, as indicated by the numerous equity-based compensation plans and the nature of a pharmaceutical preparations company.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Annexon's operational status and funding needs.

Key Numbers

Key Players & Entities

FAQ

When did Annexon, Inc. file this 10-K?

Annexon, Inc. filed this Annual Report (10-K) with the SEC on March 26, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Annexon, Inc. (ANNX).

Where can I read the original 10-K filing from Annexon, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Annexon, Inc..

What are the key takeaways from Annexon, Inc.'s 10-K?

Annexon, Inc. filed this 10-K on March 26, 2024. Key takeaways: Annexon, Inc. filed its 2023 Form 10-K on March 26, 2024.. The company is incorporated in Delaware and its fiscal year ends on December 31.. Annexon's principal business address is in Brisbane, California..

Is Annexon, Inc. a risky investment based on this filing?

Based on this 10-K, Annexon, Inc. presents a moderate-risk profile. The company's financial health and ability to fund ongoing research and development are critical, as indicated by the numerous equity-based compensation plans and the nature of a pharmaceutical preparations company.

What should investors do after reading Annexon, Inc.'s 10-K?

Investors should review the detailed financial statements and risk factors in the 10-K to understand Annexon's operational status and funding needs. The overall sentiment from this filing is neutral.

Key Dates

Glossary

10-K
An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document filed by Annexon, Inc. to report its annual financial results and business overview.)
Restricted Stock Units (RSUs)
A form of equity compensation awarded to employees, which vests over time or upon meeting certain performance conditions. (Indicates a component of Annexon's executive and employee compensation strategy, potentially impacting future share count.)
At-The-Market (ATM) Program
A method for public companies to sell shares of stock over time at prevailing market prices. (Annexon has utilized ATM programs, suggesting potential future equity issuance and capital raising activities.)

Filing Stats: 4,375 words · 18 min read · ~15 pages · Grade level 16.9 · Accepted 2024-03-26 16:10:36

Key Financial Figures

Filing Documents

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 29 Item 1B. Unresolved Staff Comments 78 Item 1C. Cybersecurity 78 Item 2.

Properties

Properties 79 Item 3.

Legal Proceedings

Legal Proceedings 79 Item 4. Mine Safety Disclosures 79 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 80 Item 6. [Reserved] 80 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 81 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 89 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 90 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 113 Item 9A.

Controls and Procedures

Controls and Procedures 113 Item 9B. Other Information 114 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 114 PART III Item 10. Directors, Executive Officers and Corporate Governance 115 Item 11.

Executive Compensation

Executive Compensation 120 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 126 Item 13. Certain Relationships and Related Transactions, and Director Independence 129 Item 14. Principal Accountant Fees and Services 132 PART IV Item 15. Exhibits, Financial Statement Schedules 133 Item 16. Form 10-K Summary 135 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Annual Report on Form 10-K, including statements regarding our strategy, future financial condition, future operations, projected costs, prospects, plans, objectives of management and expected market growth, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "aim," "anticipate," "assume," "believe," "contemplate," "continue," "could," "design," "due," "estimate," "expect," "goal," "intend," "may," "objective," "plan," "positioned," "potential," "predict," "seek," "should," "target," "will," "would" and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. These forward-looking statements include, but are not limited to, statements about: our expectations regarding the potential market size and size of the potential patient populations for our product candidates and any future product candidates, if approved for commercial use; our clinical and regulatory development plans; our expectations with regard to the results of our clinical studies, preclinical studies and research and development programs, including the timing and availability of data from such studies; the timing of commencement of future nonclinical studies and clinical trials and research and development programs

Bu siness

Item 1. Bu siness. In this Annual Report on Form 10-K, "we," "our," "us," "Annexon" and the "Company" refer to Annexon, Inc. and its consolidated subsidiary. Annexon, Annexon, Inc., the Annexon logo and other trade names, trademarks or service marks of Annexon are the property of Annexon, Inc. This report contains references to our trademarks and to trademarks belonging to other entities. Trade names, trademarks and service marks of other companies appearing in this report are the property of their respective holders. We do not intend our use or display of other companies' trade names or trademarks to imply a relationship with, or endorsement or sponsorship of us by, any other companies. Overview We are a clinical-stage biopharmaceutical company pioneering a new class of complement medicines for people living with devastating inflammatory-related diseases. The classical complement pathway is a core component to the body's immune system that activates a powerful inflammatory cascade. We believe that by stopping the classical complement pathway at its start by targeting C1q, the initiating molecule of the classical complement pathway, our approach may have the potential to provide more complete protection against complement-mediated disorders of the body, brain and eye. Using our proprietary platform, we are identifying and characterizing the role of the classical complement pathway in three therapeutic areas—autoimmune, neurodegeneration and ophthalmology. In so doing, we are advancing a pipeline of product candidates designed to block the early classical cascade and all downstream pathway components and their tissue-damaging functions. Our goal is to suppress excessive or aberrant classical complement activity that contributes to chronic inflammation and tissue damage to slow or even halt disease progression, while preserving the beneficial immune functions of the lectin and alternative complement pathways involved in the clearance of pathogens and damaged c

View Full Filing

View this 10-K filing on SEC EDGAR

View on Read The Filing