Annexon, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Annexon, Inc. submitted its Q1 2024 10-Q report, outlining financial standing and operational details.</b>

AI Summary

Annexon, Inc. (ANNX) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. Annexon, Inc. filed its 10-Q report for the period ending March 31, 2024. The filing details financial information and business operations for the first quarter of 2024. Key financial items include cash and cash equivalents, retained earnings, and additional paid-in capital. The company's business address is located at 1400 Sierra Point Parkway, Brisbane, CA. The filing references various stock and warrant programs, including the 2021 At-The-Market Program and Prefunded Warrants.

Why It Matters

For investors and stakeholders tracking Annexon, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and disclosures for Annexon, Inc., crucial for assessing the company's current health and future prospects. Understanding the details within this report, such as cash reserves and equity structure, is vital for stakeholders evaluating investment decisions in the biotechnology sector.

Risk Assessment

Risk Level: — Annexon, Inc. shows moderate risk based on this filing. The company is in the pharmaceutical preparations industry, which is subject to significant regulatory hurdles, lengthy development cycles, and high R&D costs, posing inherent risks to financial performance and market valuation.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-Q to assess Annexon's cash burn rate, R&D progress, and potential for future revenue generation.

Key Numbers

• 2024-03-31 — Period End Date (10-Q filing period)
• 2024-05-13 — Filing Date (Date the 10-Q was filed)

Key Players & Entities

• Annexon, Inc. (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-05-13 (date) — Filing date
• 1400 Sierra Point Parkway (address) — Business address
• Brisbane, CA (location) — Business address city and state
• Cowen and Company, LLC (company) — Sales agreement partner

FAQ

Risk Factors

• Regulatory Risks [high — regulatory]: The pharmaceutical industry is subject to extensive regulation by government agencies, which can impact product development, approval, and marketing.
• Need for Additional Financing [high — financial]: The company anticipates requiring significant capital to fund its ongoing operations and research and development activities.
• Research and Development Risks [high — operational]: The success of Annexon's business depends heavily on the successful development and commercialization of its product candidates, which involves inherent uncertainties.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-13: Filing Date — Date Annexon, Inc. filed its 10-Q report.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a comprehensive update on the company's financial performance and operations during the quarter.)

At-The-Market Program

A method for a company to sell its shares into the existing market at prevailing market prices. (Indicates potential for equity financing and dilution, impacting shareholder value.)

Prefunded Warrant

A warrant that is exercisable immediately upon issuance and is typically issued in connection with a private placement or other financing. (Represents potential future issuance of common stock, affecting share count and dilution.)

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share ANNX The Nasdaq Stock Mar

Filing Documents

• annx-20240331.htm (10-Q) — 1723KB
• annx-ex31_1.htm (EX-31.1) — 15KB
• annx-ex31_2.htm (EX-31.2) — 15KB
• annx-ex32_1.htm (EX-32.1) — 13KB
• 0000950170-24-058659.txt (&nbsp;) — 6178KB
• annx-20240331.xsd (EX-101.SCH) — 863KB
• annx-20240331_htm.xml (XML) — 943KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Statements of Comprehensive Loss 3 Condensed Consolidated Statements of Stockholders' Equity 4 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 23 Item 4.

Controls and Procedures

Controls and Procedures 23

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 24 Item 1A.

Risk Factors

Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 67 Item 3. Defaults Upon Senior Securities 67 Item 4. Mine Safety Disclosures 67 Item 5. Other Information 67 Item 6. Exhibits 68

SIGNATURES

SIGNATURES 69 In this Quarterly Report on Form 10-Q, "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. ANNEXON, INC. Condensed Consolidated Balance Sheets (in thousands) March 31, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 151,941 $ 225,110 Short-term investments 113,007 34,606 Prepaid expenses and other current assets 5,792 4,144 Total current assets 270,740 263,860 Restricted cash 1,032 1,032 Property and equipment, net 14,235 14,773 Operating lease right-of-use assets 17,701 18,009 Other non-current assets 361 — Total assets $ 304,069 $ 297,674 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 3,972 $ 5,487 Accrued liabilities 6,857 10,235 Operating lease liabilities, current 2,254 2,165 Other current liabilities 50 41 Total current liabilities 13,133 17,928 Operating lease liabilities, non-current 28,531 29,190 Total liabilities 41,664 47,118 Commitments and contingencies (Note 5) Stockholders' equity: Common stock 90 78 Additional paid-in capital 860,092 823,029 Accumulated other comprehensive loss ( 102 ) ( 52 ) Accumulated deficit ( 597,675 ) ( 572,499 ) Total stockholders' equity 262,405 250,556 Total liabilities and stockholders' equit

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View this 10-Q filing on SEC EDGAR