ANNX Stock — Annexon Inc.: Cash, EV, Pipeline

Share price

$4.23

Market cap

$801.9M

Cash

$209.2M

Enterprise value

$592.7M

Balance sheet

Cash	$209.2M
Debt	$0.0M
Net cash	$209.2M
Enterprise value	$592.7M
Basic shares	201.0M shares
Fully diluted shares	225.0M shares
Fully diluted market cap	$951.9M
Cash per share	$1.04

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

Loading ANNX daily closes…

Loading price history…

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Dec 12, 2026 - Jan 23, 2027	Vonaprument	Phase 3	Geographic Atrophy	Q4 2026
Feb 11 - Mar 25	Tanruprubart	Phase 3	Guillain-Barre Syndrome	—
Sep 11 - Oct 23	Vonaprument	Phase 3	Geographic Atrophy	Q4 2026

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Vonaprument

Phase 3 · Active Modality: intravitreal inhibitor

Target C1q (classical complement cascade)

Indications

Dry age-related macular degeneration with geographic atrophy (GA) (Phase 3)

Catalysts

— fourth quarter of 2026

Status note Phase 3 ARCHER II trial in dry AMD with geographic atrophy (dual primary endpoints at Month 15 and Month 24); EMA PRIME designation.

Tanruprubart

Phase 3 · Active Modality: intravenous infusion

Target C1q (classical complement cascade)

Indications

Guillain-Barré syndrome (GBS) (Phase 3)

Status note Investigational targeted immunotherapy delivered in a single infusion for GBS.

ANX1502

Phase 1 · Active Modality: oral small molecule

Target activated C1s

Indications

Cold agglutinin disease (CAD) (Phase 1)

Catalysts

— second half of 2026

Status note Phase 1 in healthy volunteers completed; enteric-coated tablet formulation being evaluated in an ongoing proof-of-concept study in CAD patients; dosing complete.

Per-asset detail extracted from the 10-Q filed 2026-08-12. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Vonaprument
Lead indication	Geographic Atrophy
Lead phase	Phase 3
Active trials	3

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06510816	Phase 3	Active, not recruiting	Sponsor	ANNX	—	Geographic Atrophy	Q4 2026
NCT07020819	Phase 3	Recruiting	Sponsor	ANNX	—	Guillain-Barre Syndrome	—
NCT07807969	Phase 3	Not yet recruiting	Sponsor	ANNX	—	Geographic Atrophy	Q4 2026

Sponsor-matched active trials from ClinicalTrials.gov (3 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 3 active trials for Annexon, Inc. on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Logos Global Management	1,500,000	+1,500,000	0.37%	2026-08-14
Ikarian Capital	430,244	-150,000	0.40%	2026-08-14
ADAR1 Capital Management	0	-55,000	0.00%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

ANNX — Annexon Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Institutional holders