Annexon said second-quarter 2026 cash, cash equivalents and short-term investments totaled $209.2 million, and that with its new credit facility the company expects to fund operations and anticipated milestones into 2028. The company entered into a credit facility of up to $200 million, with $50 million drawn at closing.
For the quarter ended June 30, 2026, research and development spending rose to $46.6 million from $44.2 million a year earlier, an increase of $2.4 million, or about 5%. General and administrative expenses climbed to $10.6 million from $7.6 million, up $3 million, or nearly 40%.
Net loss attributable to common stockholders widened to $55.3 million, or $0.28 per share, from $49.2 million, or $0.34 per share, in the second quarter of 2025. The per-share loss narrowed even as the absolute loss increased.
On the clinical side, the company said early results from the first 10 U.S. and European patients in its open-label forward study showed improvement in strength and a clinically meaningful reduction in disability with tanruprubart, reinforcing earlier phase 3 and real-world findings. Annexon said its U.S./European data package is expected to support a biologics license application filing in the fourth quarter of 2026.
For vonaprument, Annexon said all eligible patients in the phase 3 Archer II trial have received at least 12 months of treatment, and the study remains on track. The company added a month 24 dual primary endpoint while keeping the month 15 primary endpoint, with the month 15 readout still expected in the fourth quarter of 2026 and final completion now expected in the third quarter of 2027.
In its autoimmune program, dosing is complete in the proof-of-concept study of ANX1502, with an update expected in the fall of 2026.
Annexon also appointed Mark S. Blumenkranz to its board and said the move comes as it prepares for potential commercialization. Today the company's shares have moved 0.75% to a price of $5.38. For the full picture, make sure to review Annexon's 8-K report.
