The dual primary endpoint strategy for ARCHER II increases the probability of success for vonaprument in GA, while the BLA submission for tanruprubart in GBS in Q4 2026 is a key catalyst. The $200M credit facility removes near-term financing risk. Monitor Q4 2026 for pivotal data readouts.
Price Chart
Executive Summary
Annexon reported Q2 2026 EPS of -$0.28, slightly wider than the prior year's -$0.34 loss, but the focus is on pipeline catalysts. The company added a Month 24 dual primary endpoint to the ARCHER II Phase 3 GA trial and launched an open-label extension, signaling confidence in vonaprument's profile. A $200M credit facility with $50M drawn extends cash runway into 2028, de-risking the balance sheet ahead of pivotal data in Q4 2026.
Key Financial Metrics
Key Facts
- Q2 2026 net loss of $55.3M ($0.28/share) vs $49.2M ($0.34/share) in Q2 2025
- Cash and investments of $209.2M as of June 30, 2026, extended into 2028 via $200M credit facility ($50M drawn)
- ARCHER II Phase 3 GA trial on track for Month 15 primary endpoint in Q4 2026; Month 24 dual primary endpoint added
- BLA submission for tanruprubart in GBS expected in Q4 2026
- ANX1502 oral C1 inhibitor POC data in CAD expected Fall 2026
Financial Impact
Net loss of $55.3M in Q2 2026, cash runway extended into 2028 via $200M credit facility
Risk Factors
- Phase 3 ARCHER II trial failure or mixed results
- Regulatory delays or rejection of BLA for tanruprubart
- Higher-than-expected cash burn rate
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3343464 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 13, 2026 10w ago | ANALYST-UPGRADE | $5.26 $5.18 | ▼ −1.52% | ▲ +0.44% | $3.70 (−29.66%) |
Aug 12, 2026 10w ago | 8-K | $5.33 $5.50 | ▲ +3.19% | ▲ +3.63% | $3.70 (−30.58%) |
Aug 12, 2026 10w ago | Press Release | $5.33 $5.50 | ▲ +3.19% | ▲ +3.63% | $3.70 (−30.58%) |
Aug 10, 2026 11w ago | 8-K | $5.34 $5.28 | ▼ −1.12% | ▼ −0.72% | $3.70 (−30.71%) |
Aug 7, 2026 11w ago | Institutional Cluster | $5.41 $5.29 | ▼ −2.22% | ▼ −2.62% | $3.70 (−31.61%) |
Aug 6, 2026 11w ago | Press Release | $5.60 $5.26 | ▼ −6.07% | ▼ −7.28% | $3.70 (−33.93%) |
Jul 21, 2026 13w ago | ANALYST-UPGRADE | $5.39 $5.13 | ▼ −4.82% | ▼ −3.60% | $3.70 (−31.35%) |
Jul 14, 2026 14w ago | 144 | $5.55 $5.57 | ▲ +0.36% | ▲ +1.66% | $3.70 (−33.33%) |
Jun 11, 2026 19w ago | Institutional Cluster | $4.70 $4.94 | ▲ +5.11% | ▲ +4.67% | $3.70 (−21.28%) |
May 12, 2026 23w ago | ANALYST-UPGRADE | $5.44 $4.96 | ▲ +8.82% | ▲ +8.90% | $3.70 (+31.99%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers