Annexon (ANNX)

Executive Summary

Annexon is a clinical-stage biopharmaceutical company pioneering C1q-targeting monoclonal antibodies to inhibit the classical complement pathway. Its lead programs include vonaprument (ANX007) in Phase 3 for geographic atrophy (GA) and tanruprubart (ANX005) in Phase 3 for Guillain-Barre syndrome (GBS). The company also has earlier-stage assets in ophthalmology, neurology, and autoimmune indications. Recent milestones include completion of a Phase 2 trial in warm autoimmune hemolytic anemia and a Phase 2 trial in Huntington disease. With a strong focus on upstream complement inhibition, Annexon aims to address inflammatory damage and synaptic loss across multiple diseases.

Upcoming Catalysts (preview)

• H2 2026Top-line data from Phase 3 ARCH-2 trial of vonaprument in geographic atrophy50% success
• 2027Interim analysis of Phase 3 trial of tanruprubart in Guillain-Barre syndrome40% success
• Q3 2026Initiation of pivotal trial for lead candidate in new indication or partnership announcement30% success