Annexon, Inc. Files 10-Q, Details R&D and ATM Program
Ticker: ANNX · Form: 10-Q · Filed: Aug 12, 2024 · CIK: 1528115
Sentiment: neutral
Topics: 10-Q, R&D, ATM Program, Biotech
TL;DR
Annexon 10-Q shows R&D spend and ATM program activity for Q2 2024.
AI Summary
Annexon, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported research and development expenses for the second quarter of 2024 and the first half of 2024. It also disclosed details about its "TwoZeroTwoOneAtTheMarketProgram" and a sales agreement with Cowen and Company, LLC, which were active during the first half of 2024.
Why It Matters
This filing provides investors with an update on Annexon's financial performance, particularly its investment in research and development, and its capital-raising activities through its at-the-market program.
Risk Assessment
Risk Level: medium — Biotech companies like Annexon often carry medium risk due to the inherent uncertainties in drug development and regulatory approval processes.
Key Numbers
- 2024-06-30 — Period End Date (The 10-Q covers financial activities up to this date.)
- 2024-04-01 — Q2 Start Date (Research and development expenses for this quarter are detailed.)
- 2024-01-01 — H1 Start Date (Sales agreement and ATM program activity for the first half of the year are reported.)
Key Players & Entities
- Annexon, Inc. (company) — Filer of the 10-Q
- 2024-06-30 (date) — End of reporting period
- Cowen and Company, LLC (company) — Sales agreement partner
- 2024-04-01 (date) — Start of Q2 2024 reporting period
- 2024-01-01 (date) — Start of H1 2024 reporting period
FAQ
What were Annexon's research and development expenses for the second quarter of 2024?
The filing indicates research and development expenses for the period of April 1, 2024, to June 30, 2024.
What is the 'TwoZeroTwoOneAtTheMarketProgram' mentioned in the filing?
This program, along with a sales agreement with Cowen and Company, LLC, was active during the period from January 1, 2024, to June 30, 2024.
What is the fiscal year end for Annexon, Inc.?
Annexon, Inc.'s fiscal year ends on December 31.
What is the primary business of Annexon, Inc.?
Annexon, Inc. operates in the Pharmaceutical Preparations industry, SIC code 2834.
When was this 10-Q filing submitted?
This 10-Q filing was submitted on August 12, 2024.
Filing Stats: 4,409 words · 18 min read · ~15 pages · Grade level 15.9 · Accepted 2024-08-12 16:05:21
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share ANNX The Nasdaq Stock Mar
Filing Documents
- annx-20240630.htm (10-Q) — 2150KB
- annx-ex31_1.htm (EX-31.1) — 16KB
- annx-ex31_2.htm (EX-31.2) — 15KB
- annx-ex32_1.htm (EX-32.1) — 13KB
- 0000950170-24-095401.txt ( ) — 7246KB
- annx-20240630.xsd (EX-101.SCH) — 924KB
- annx-20240630_htm.xml (XML) — 1136KB
—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 17 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.
Controls and Procedures
Controls and Procedures 25
—OTHER INFORMATION
PART II—OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 26 Item 1A.
Risk Factors
Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 69 Item 3. Defaults Upon Senior Securities 69 Item 4. Mine Safety Disclosures 69 Item 5. Other Information 69 Item 6. Exhibits 70
SIGNATURES
SIGNATURES 71 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) June 30, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 157,304 $ 225,110 Short-term investments 211,395 34,606 Prepaid expenses and other current assets 5,270 4,144 Total current assets 373,969 263,860 Restricted cash 1,032 1,032 Property and equipment, net 13,702 14,773 Operating lease right-of-use assets 17,382 18,009 Total assets $ 406,085 $ 297,674 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 4,126 $ 5,487 Accrued liabilities 10,657 10,235 Operating lease liabilities, current 2,345 2,165 Other current liabilities 20 41 Total current liabilities 17,148 17,928 Operating lease liabilities, non-current 27,858 29,190 Total liabilities 45,006 47,118 Commitments and contingencies (Note 5) Stockholders' equity: Common stock 106 78 Additional paid-in capital 988,347 823,029 Accumulated other comprehensive loss ( 89 ) ( 52 ) Accumulated deficit ( 627,285 ) ( 572,499 ) Total stockholders' equity 361,079 250,556 Total liabilities and stockholders' equity $ 406,085 $ 297,674 See a