ANNX · Annexon, Inc.

📣 What ANNX Says Is Next

• fourth quarter of 2026 · “Topline results from the Month 15 primary analysis are expected in the fourth quarter of 2026.”
  Company press release, Aug 12, 2026 · SEC filing
• first quarter of 2027 · “Following this assessment, the DMC may recommend that the ARCHER II overall study has met its Month 15 primary endpoint, enabling the planned analysis of the trial’s two sub-studies, with results anticipated in the first quarter of 2027; or it may recommend that the study continues until the Month 24 primary endpoint analysis.”
  Company press release, Aug 12, 2026 · SEC filing
• fourth quarter of 2026 · Vonaprument: “An independent Data Monitoring Committee (DMC) will assess the primary endpoint of the overall study at Month 15, and the Company expects to report the DMC’s assessment in the fourth quarter of 2026.”
  Company press release, Aug 12, 2026 · SEC filing

Quoted word for word from the company's press releases filed with the SEC. Timing is the company's own guidance, not a BioRadar estimate.

🧪 Trial & FDA Catalysts

• Oct 2026 · Phase 3 · Active Trial · A Study Investigating the Efficacy and Safety of Intravitreal (IVT) Injections of Vonaprum
  Registry primary completion date, not a results date
• Dec 2026 · Phase 3 · Recruiting · An Open Label Clinical Study to Evaluate Tanruprubart (Also Commonly Known as ANX005) in P
  Registry primary completion date, not a results date
• Jul 2029 · Phase 3 · Upcoming Trial · An Open-label Extension Study of the Long-Term Safety of Vonaprument (ANX007) in Participa
  Registry primary completion date, not a results date

📊 Drug Pipeline

Source: ClinicalTrials.gov trials sponsored by the company, one row per candidate at its most advanced registered trial. FDA approvals: Drugs@FDA. Wrong or missing drug? Report it

💰 Cash Runway & Dilution Risk

ANNX holds $395M in cash and short-term investments (as of Jun 30, 2026) and burns about $47.4M/quarter from operations, an estimated runway of 25 months at that rate (BioRadar estimate, not company guidance).

Dilution pressure: 20 · Moderate

• Cash runway 25 months
• ATM program on file since Mar 2026 +15
• Shelf registration (S-3ASR, Mar 2026) +10
• Company says cash lasts into 2028 -5Based upon our current operating plan, we believe that our existing cash and cash equivalents and short-term investments will enable us to fund operating expenses into 2028. 10-Q, Aug 2026

Recent financing filings on SEC EDGAR:

• Mar 31, 2026 · Shelf registration with ATM program, up to $150M · S-3ASR
• Nov 13, 2025 · Underwritten offering · 424B5
• Nov 12, 2025 · Underwritten offering · 424B5
• Jun 7, 2024 · Underwritten offering · 424B5
• Jun 4, 2024 · Underwritten offering · 424B5
• Apr 5, 2024 · ATM program, up to $100M · 424B5

Source: SEC EDGAR (XBRL cash flow and financing filings). Dilution Watch: every company ranked → · Get an alert when ANNX files for a raise →

👥 Who Owns ANNX

Share count 38,563,565 (latest 10-Q/10-K). Insiders: each officer's, director's and 10% owner's latest Form 3, 4 or 5, direct and indirect shares; options are not counted. 5%+ holders: latest Schedule 13D or 13G of each holder above 5%. Institutions: the largest 13F holders (13F quarter ending 2026-06-30). Sources have different dates, so the split is approximate. Source: SEC EDGAR.

📈 Recent Insider Activity (Form 4)

Only open-market purchases (P) and sales (S) are trading decisions. Awards (A), option exercises (M) and tax withholding (F) are compensation mechanics. Source: SEC Form 4.