Quarterly ResultMay 7, 2026, 04:22 PM
Annexon Q1 Net Loss Narrows to $44.1M; R&D Expenses Down
AI Summary
Annexon, Inc. reported a net loss of $44.1 million for Q1 2026, a significant improvement from $54.4 million in Q1 2025, primarily driven by a decrease in research and development expenses. The company's cash and short-term investments stood at $225.0 million as of March 31, 2026, and management expects this to fund operations for at least twelve months. Financing activities included raising $32.7 million through its 2024 ATM program and establishing a new $150.0 million 2026 ATM program.
Key Highlights
- Net loss decreased to $44.1 million in Q1 2026 from $54.4 million in Q1 2025.
- Net loss per share improved to $(0.23) in Q1 2026 from $(0.37) in Q1 2025.
- Research and development expenses decreased to $35.8 million from $48.2 million YoY.
- Cash and short-term investments totaled $225.0 million as of March 31, 2026.
- Raised $32.7 million net from 2024 ATM program in Q1 2026.
- Established a new $150.0 million 2026 ATM program in March 2026.
- Net cash used in operating activities was $46.8 million, down from $50.1 million YoY.
Price Impact
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