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ANNEXON biosciences Annexon Biosciences Provides Business Update and Reports First Quarter 2021 Financial Results May 17 , 2021 - ANX005 Huntington's Disease Phase 2 trial fully enrolled with data anticipated 2H 2021 - - ANX009 First - in - Human dose - ranging trial completed with data expected summer 2021 - - Next generation drug candidates , ANX105 and ANX1502 , on track to submit INDs by end of 2021- - Current cash position sufficient to fund operations through 2023- SOUTH SAN FRANCISCO , Calif . , May 17 , 2021 ( GLOBE NEWSWIRE ) -- Annexon , Inc. ( " Annexon " ) ( Nasdaq : ANNX ) , a clinical - stage biopharmaceutical company developing a pipeline of novel therapies for patients with classical complement - mediated disorders of the body , brain and eye , today announced first quarter 2021 financial results and business highlights . Recent Business Highlights Annexon is advancing a portfolio of innovative C1q inhibitors to stop classical complement - mediated autoimmune and neurodegenerative disease processes at the start in several indications . Recent portfolio highlights include : • Completed enrollment in Phase 2 trial of ANX005 in Huntington's Disease ( HD ) . The company successfully completed enrollment in a Phase 2 trial evaluating ANX005 in HD patients . ANX005 is an intravenously administered C1q inhibitor in development for autoimmune and neurodegenerative indications . Initial data from this trial is anticipated in the second half of 2021 . • Completed dose escalation in first - in - human study of ANX009 subcutaneous formulation . The company successfully completed dosing of ANX009 in a Phase 1 dose - ranging study in healthy volunteers . ANX009 is a subcutaneously administered C1q inhibitor in development for autoimmune indications . Data from this study is anticipated in the summer of 2021 . • Continued clinical trial progress for lead ANX005 and ANX007 C1q inhibitors . The company's Phase 2/3 trial in Guillain - Barré Syndrome and Phase 2 trial in geographic atrophy continue to progress as planned , as well as initiation activities for the company's Phase 2 trials in warm autoimmune hemolytic anemia and amyotrophic lateral sclerosis . • Pipeline expansion . The company continues to advance two novel classical pathway inhibitors , ANX105 ( IV ) and ANX1502 ( oral small molecule ) , toward IND submission by the end of 2021 and plans to initiate clinical development in 2022 . " We are pleased with the strong progress on our mission to deliver transformative therapies for patients suffering from complement - driven autoimmune and neurodegenerative diseases , " said Douglas Love , Esq . , president and chief executive officer of Annexon . " Annexon remains on track for another exciting year , and looking ahead , is sharply focused on effectively executing our several clinical programs while advancing multiple next generation drug candidates and driving our beachhead strategy to rapidly expand our platform into mechanistically related indications . " First Quarter 2021 Financial Results • Cash and cash equivalents and short - term investments : Cash and cash equivalents and short - term investments were $ 326.7 million as of March 31 , 2021 . • Research and development ( R & D ) expenses : R & D expenses were $ 20.7 million for the quarter ended March 31 , 2021 compared to $ 10.2 million for the quarter ended March 31 , 2020 . • General and administrative ( G & A ) expenses : G & A expenses were $ 5.5 million for the quarter ended March 31 , 2021 compared to $ 2.2 million for the quarter ended March 31 , 2020 . • Net loss : Net loss was $ 26.0 million for the quarter ended March 31 , 2021 compared to $ 12.3 million for the quarter ended March 31 , 2020 . About Annexon , Inc. Annexon is a clinical - stage biopharmaceutical company developing a pipeline of novel therapies for patients with classical complement - mediated disorders of the body , brain and eye . The company's pipeline is based on its platform technology addressing well - researched classical complement- mediated autoimmune and neurodegenerative disease processes , both of which are triggered by aberrant activation of C1q , the initiating molecule of the classical complement pathway . Annexon is deploying a rigorous , biomarker - driven development strategy designed to improve the probability of technical success over shorter development timelines . For more information , visit www.annexonbio.com .