ANNX on Nasdaq
Annexon, Inc.
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Last updated Oct 16, 2026.
Overview
-$206.7MNet income, fiscal 20252
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Financial statements
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Research and development | $184.7M | $119.4M |
| General and administrative | $31.7M | $34.6M |
| Total operating expenses | $216.4M | $154.1M |
| Loss from operations | -$216.4M | -$154.1M |
| Interest and other income, net | $9.7M | $15.9M |
| Net loss | -$206.7M | -$138.2M |
| Deemed dividend on modification of common stock warrants | -$1.9M | $0 |
| Net loss attributable to common stockholders | -$208.5M | -$138.2M |
| Net loss per share, basic | -$1.34 | -$1.01 |
| Net loss per share, diluted | -$1.34 | -$1.01 |
| Weighted-average shares used in computing net loss per share, basic | 155.1M shares | 137.4M shares |
| Weighted-average shares used in computing net loss per share, diluted | 155.1M shares | 137.4M shares |
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $162.1M | $49.5M | |
| Short-term investments | $76.3M | $262.5M | |
| Prepaid expenses and other current assets | $3.8M | $4.4M | |
| Total current assets | $242.2M | $316.5M | |
| Restricted cash | $1.0M | $1.0M | |
| Property and equipment, net | $10.6M | $12.6M | |
| Operating lease right-of-use assets | $15.2M | $16.7M | |
| Other non-current assets | $8.5M | $3.2M | |
| Total assets | $277.6M | $350.1M | |
| Accounts payable | $14.9M | $10.4M | |
| Accrued and other current liabilities | $24.8M | $17.6M | |
| Operating lease liabilities, current | $2.9M | $2.5M | |
| Total current liabilities | $42.6M | $30.5M | |
| Operating lease liabilities, non-current | $23.3M | $26.5M | |
| Total liabilities | $65.9M | $57.0M | |
| Common stock, $0.001 par value; 300,000,000 shares authorized as of December 31, 2025 and 2024; 149,362,800 and 109,381,556 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $149.0K | $109.0K | |
| Additional paid-in capital | $1.1B | $1.0B | |
| Accumulated other comprehensive (loss) income | -$29.0K | $10.0K | |
| Accumulated deficit | -$917.4M | -$710.7M | |
| Total stockholders' equity | $211.6M | $293.1M | $250.6M |
| Total liabilities and stockholders equity | $277.6M | $350.1M | |
| Common stock, par value per share | $0.00 | $0.00 | |
| Common stock, shares authorized | 300.0M shares | 300.0M shares | |
| Common stock, shares issued | 149.4M shares | 109.4M shares | |
| Common stock, shares outstanding | 149.4M shares | 109.4M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$206.7M | -$138.2M |
| Depreciation and amortization | $2.2M | $2.1M |
| Accretion of discount on available-for-sale securities | -$4.0M | -$9.1M |
| Stock-based compensation | $16.4M | $19.4M |
| Reduction in the carrying amount of right-of-use assets | $1.5M | $1.3M |
| Prepaid expenses and other current assets | $598.0K | -$300.0K |
| Other non-current assets | -$5.3M | -$3.2M |
| Accounts payable | $4.5M | $4.9M |
| Accrued and other current liabilities | $7.2M | $7.3M |
| Operating lease liabilities | -$2.8M | -$2.4M |
| Net cash used in operating activities | -$186.4M | -$118.0M |
| Purchases of property and equipment | -$137.0K | -$15.0K |
| Purchases of available-for-sale securities | -$212.2M | -$583.9M |
| Proceeds from maturities of available-for-sale securities | $402.4M | $365.1M |
| Net cash provided by (used in) investing activities | $190.1M | -$218.8M |
| Proceeds from the exercise of common stock options | $461.0K | $1.2M |
| Proceeds from employee stock purchase plan purchases | $454.0K | $362.0K |
| Proceeds from the issuance of common stock | $28.5M | $44.4M |
| Proceeds from the issuance of common stock and pre-funded warrants, net of commissions | $81.1M | $117.5M |
| Payment of financing costs | -$1.6M | -$2.3M |
| Net cash provided by financing activities | $108.9M | $161.2M |
| Increase (decrease) in cash, cash equivalents and restricted cash | $112.6M | -$175.6M |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | $2.0K | -$15.0K |
| Cash paid for amounts included in the measurement of lease liability | $5.1M | $4.9M |
| Deemed dividend on modification of common stock warrants | $1.9M | |
| Deferred offering costs included in other non-current assets | $51.0K |
Recent filings
- Sep 25, 20264
- Aug 13, 2026144
- Aug 12, 20268-K
- Aug 12, 202610-Q
- Aug 12, 20263
- Aug 12, 20264
- Aug 10, 20268-K
- Aug 7, 2026SCHEDULE 13G
- Aug 6, 20268-K
- Jul 30, 20268-K
- Jul 27, 2026SCHEDULE 13G/A
- Jul 15, 2026144
- Jul 14, 2026144
- Jul 8, 2026SCHEDULE 13G/A
- Jul 8, 2026SCHEDULE 13G/A
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARAnnexon, Inc. filings on SEC EDGAR
- 2SEC EDGARAnnexon, Inc. 10-K for fiscal 2025
- 3SEC EDGARAnnexon, Inc. filings on SEC EDGAR
- 4SEC EDGARAnnexon, Inc. 10-K for fiscal 2019
- 5SEC EDGARAnnexon, Inc. 10-K for fiscal 2020
- 6SEC EDGARAnnexon, Inc. 10-K for fiscal 2021
- 7SEC EDGARAnnexon, Inc. 10-K for fiscal 2022
- 8SEC EDGARAnnexon, Inc. 10-K for fiscal 2023
- 9SEC EDGARAnnexon, Inc. 10-Q for fiscal 2025
- 10SEC EDGARAnnexon, Inc. 10-Q for fiscal 2025
- 11SEC EDGARAnnexon, Inc. 10-Q for fiscal 2026
- 12SEC EDGARAnnexon, Inc. 10-Q for fiscal 2025