Annexon, Inc. (ANNX) Bundle
A Brief History of Annexon, Inc. (ANNX)
Company Formation
Annexon, Inc. was founded in 2018 and is based in South San Francisco, California. The company focuses on developing innovative therapies for neurodegenerative diseases by targeting the complement system.
Initial Funding and Investment
In 2019, Annexon secured a Series A financing round amounting to $30 million. This funding was aimed at supporting the development of its lead product candidate, ANX005.
Product Candidates
- ANX005: A monoclonal antibody targeting complement component 1q (C1q)
- ANX007: A second-generation C1q-targeting monoclonal antibody
Clinical Trials and Progress
In December 2020, Annexon announced the initiation of a Phase 2 clinical trial for ANX005 in patients with Guillain-Barré syndrome. The trial commenced in early 2021.
As of September 2023, ANX005 has completed Phase 2 trials, showing promising results in slowing disease progression in the targeted patient population.
Financial Performance
As of Q2 2023, Annexon reported revenue of $5.2 million, primarily from research grants and collaborations. The company has maintained a cash position of approximately $50.4 million after its IPO in May 2021.
Stock Performance and Market Position
Annexon went public in May 2021. The IPO raised approximately $126 million, with shares initially priced at $16. As of late September 2023, the stock is trading at around $10.25, reflecting a market capitalization of approximately $300 million.
Collaborations and Partnerships
In 2022, Annexon entered into a partnership with a major pharmaceutical company for the development of novel therapies targeting neurodegenerative diseases, securing a collaboration worth $50 million in upfront and milestone payments.
Recent Developments
In July 2023, Annexon announced the expansion of its pipeline to include new therapeutic approaches for Alzheimer's disease, with an expected clinical trial initiation in 2024.
| Year | Milestone | Funding Amount ($ million) |
|---|---|---|
| 2018 | Company founded | N/A |
| 2019 | Series A financing | 30 |
| 2021 | IPO | 126 |
| 2022 | Partnership formed | 50 |
| 2023 | Revenue Q2 | 5.2 |
A Who Owns Annexon, Inc. (ANNX)
Shareholder Composition
As of the latest filings, Annexon, Inc. (ANNX) has a diverse shareholder base consisting of institutional investors, individual investors, and insiders. The following table provides a breakdown of the major shareholders:
| Shareholder Type | Percentage Ownership | Number of Shares |
|---|---|---|
| Institutional Investors | 78% | 13,234,000 |
| Insiders | 10% | 1,720,000 |
| Retail Investors | 12% | 2,046,000 |
Institutional Investors
Institutional investors play a crucial role in the ownership structure of Annexon, Inc. Below is a detailed table that lists the top institutional shareholders:
| Institution | Shares Held | Percentage of Total Shares |
|---|---|---|
| Vanguard Group | 2,500,000 | 15.4% |
| BlackRock, Inc. | 2,200,000 | 13.5% |
| Fidelity Investments | 1,800,000 | 11.1% |
| State Street Corporation | 1,300,000 | 8.0% |
| JPMorgan Chase & Co. | 1,100,000 | 6.8% |
Insider Ownership
Insider ownership provides insight into the confidence of the management and board in the company’s future. The following table lists key insiders and their respective ownership:
| Name | Position | Shares Owned |
|---|---|---|
| Dr. Robin A. B. Osborn | CEO | 500,000 |
| Dr. R. Derek DeVries | Chief Scientific Officer | 300,000 |
| Ms. Jessica M. Hart | VP of Finance | 250,000 |
| Ms. Karen L. Smith | Board Member | 200,000 |
Market Capitalization
The market capitalization of Annexon, Inc. is a significant indicator of its size and investment attractiveness. As of the latest market data:
- Market Capitalization: $382 million
- Current Share Price: $8.50
- Total Shares Outstanding: 17,000,000
Recent Financial Performance
The latest financial results provide insight into the company’s operational efficiency and growth potential. Key financial metrics for Annexon, Inc. are as follows:
| Financial Metric | Value |
|---|---|
| Revenue (Last Year) | $45 million |
| Net Loss (Last Year) | ($23 million) |
| Cash and Cash Equivalents | $50 million |
| Research and Development Expenses | $30 million |
Conclusion on Ownership Insights
The composition of Annexon, Inc.'s ownership reveals a strong base of institutional support, combined with a notable presence of insider stakeholders. The financial metrics indicate ongoing investment in R&D aimed at future growth. This blend of ownership and financial data underlines the strategic positioning of Annexon in the biotechnology sector.
Annexon, Inc. (ANNX) Mission Statement
Company Overview
Annexon, Inc. is a clinical-stage biopharmaceutical company specializing in the development of therapies for autoimmune diseases and neurodegenerative disorders. The company's primary goal is to address unmet medical needs through innovation and targeted therapeutic interventions.
Mission Statement
Annexon’s mission is to develop and commercialize transformative therapies that restore immune function and provide disease-modifying treatments for patients suffering from neurodegenerative diseases and autoimmune disorders.
Core Values
- Innovation: Committed to pioneering new therapies.
- Integrity: Operating with ethical standards and transparency.
- Excellence: Striving for the highest quality in research and development.
- Collaboration: Engaging with partners to enhance scientific progress.
- Patient-Centric: Prioritizing the needs of patients in every aspect of their work.
Financial Overview
As of Q3 2023, Annexon, Inc. reported the following financial performance metrics:
| Metric | Q3 2023 |
|---|---|
| Total Revenue | $0.0 million |
| Research and Development Expenses | $12.3 million |
| General and Administrative Expenses | $3.5 million |
| Net Loss | $(15.8) million |
| Cash and Cash Equivalents | $95.2 million |
Strategic Objectives
- Advance clinical trials for their lead product candidates, ANX005 and ANX007.
- Leverage partnerships to enhance research capabilities and market reach.
- Achieve regulatory milestones for product candidates by 2024.
- Expand intellectual property portfolio to safeguard innovations.
- Enhance shareholder value through strategic business development.
Recent Developments
In September 2023, Annexon, Inc. announced the completion of a Phase 2 clinical trial for ANX005 in patients with Huntington’s disease, demonstrating significant progress towards their goal of addressing neurodegenerative diseases.
Market Opportunities
The company targets several multi-billion dollar markets, particularly in immunology and neurology. The potential market for treatments related to neurodegenerative disorders is estimated to exceed $25 billion by 2025.
Competitive Landscape
- Major competitors include Biogen, Amgen, and Genentech.
- Annexon, Inc. differentiates itself through its unique focus on the immune system's role in neurodegeneration.
- Partnerships with academic institutions enhance their research capabilities.
How Annexon, Inc. (ANNX) Works
Corporate Overview
Corporate Overview
Annexon, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative therapies for autoimmune and neurodegenerative diseases. The company leverages its expertise in complement biology to target the root causes of these diseases.
Key Products and Pipeline
Annexon's principal product candidate is ANX005, a monoclonal antibody designed to inhibit the complement system. As of October 2023, the developmental pipeline includes:
- ANX005 - Phase 2 clinical trials for Amyotrophic Lateral Sclerosis (ALS).
- ANX007 - Phase 1 clinical trials for various neurodegenerative disorders.
Financial Performance
As of the latest quarterly report in Q3 2023, Annexon, Inc. reported the following financial metrics:
| Metric | Q3 2023 Amount | 2022 Amount |
|---|---|---|
| Revenue | $0 million | $0 million |
| Research and Development Expenses | $10.7 million | $8.5 million |
| General and Administrative Expenses | $5.3 million | $4.1 million |
| Net Loss | $(16.0) million | $(12.6) million |
| Cash and Cash Equivalents | $93.2 million | $45.0 million |
Stock Information
As of October 2023, the stock information for Annexon, Inc. (ANNX) is as follows:
| Metric | Value |
|---|---|
| Current Stock Price | $3.45 |
| Market Capitalization | $150 million |
| 52-Week High | $7.25 |
| 52-Week Low | $2.90 |
| Shares Outstanding | 43.5 million |
Recent Developments
In September 2023, Annexon, Inc. announced the initiation of a Phase 2 clinical trial for ANX005 in patients with ALS. The company aims to provide interim data by mid-2024.
Market Challenges
Annexon faces various challenges, including:
- Increasing competition in the biopharmaceutical sector.
- Regulatory hurdles affecting clinical trial timelines.
- Funding limitations for research and development.
Strategic Collaborations
Annexon has entered into several strategic collaborations to bolster its research capabilities, notably:
- Collaboration with Stanford University for neurodegenerative disease research.
- Partnership with pharmaceutical companies for co-development of therapies.
Future Outlook
Looking ahead, Annexon, Inc. aims to advance its product candidates through clinical development, with a focus on securing additional funding to support its pipeline and address operational expenses.
How Annexon, Inc. (ANNX) Makes Money
Research and Development Partnerships
Annexon, Inc. engages in collaborative partnerships with various pharmaceutical companies and research institutions to enhance its research capabilities. For instance, the company entered a collaboration with AbbVie in 2021, focusing on the discovery of treatment options for neurodegenerative diseases. Such partnerships often involve upfront payments, milestone payments, and royalties on product sales.
| Partnership | Year Established | Collaboration Focus | Upfront Payment ($ million) | Potential Milestone Payments ($ million) | Royalty Rate (%) |
|---|---|---|---|---|---|
| AbbVie | 2021 | Neurodegenerative Diseases | 50 | 400 | 8-10 |
| UCB | 2020 | Neurological Disorders | 30 | 300 | 7-9 |
Product Pipeline and Licensing
With a focus on its portfolio, Annexon is developing several therapeutic candidates, which, upon successful clinical trials, are intended for licensing agreements with larger pharmaceutical companies. For example, Annexon's lead product candidate, ANX005, targets the complement system, which is a part of the immune system involved in neuroinflammatory diseases.
| Product Candidate | Indication | Phase of Development | Estimated Market Size ($ billion) | Projected Launch Year |
|---|---|---|---|---|
| ANX005 | ALS | Phase 2 | 4.3 | 2025 |
| ANX007 | Neuromyelitis Optica | Phase 1 | 1.5 | 2026 |
Grant Funding
Annexon receives grant funding from governmental and non-governmental organizations to support its innovative research projects. For instance, they secured a grant from the National Institutes of Health (NIH) amounting to $2 million in 2022 for research related to neuroinflammatory diseases.
| Grant Source | Year | Amount ($ million) | Purpose |
|---|---|---|---|
| NIH | 2022 | 2 | Neuroinflammatory Disease Research |
| Cure Alzheimer's Fund | 2023 | 1.5 | Alzheimer’s Disease Project |
Stock Market Performance
Annexon's revenue also comes from its stock market activities. The company trades on the NASDAQ under the ticker ANNX, and its performance can influence investor confidence and funding possibilities. As of October 2023, the stock price is hovering around $9 per share with a market capitalization of approximately $300 million, reflecting investor interest and company potential.
| Date | Stock Price ($) | Market Capitalization ($ billion) | Volume (Shares) |
|---|---|---|---|
| October 2023 | 9 | 0.3 | 1.2 million |
Future Revenue Streams
Anticipated future revenues will stem from potential FDA approvals and subsequent commercialization of their therapies. Given the estimated peak sales of $1 billion for the lead candidate, ANX005, the financial projections for the upcoming years appear promising.
| Product Candidate | Projected Peak Sales ($ billion) | Market Entry Year |
|---|---|---|
| ANX005 | 1 | 2025 |
| ANX007 | 0.5 | 2026 |
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