Annexon (ANNX) Q2 2026 Earnings Call Transcript

Annexon (ANNX) used its Aug. 12, 2026 earnings call to update ARCHER II and other pipeline plans. R&D expenses were $46.6 million in Q2 2026, up from $44.2 million, as Phase III ARCHER II costs and contract manufacturing increased. The company reported a $55.3 million net loss for the quarter, versus $49.2 million a year earlier, and net loss per share of $0.28. Cash totaled $209.2 million as of June 30, 2026, alongside a $200 million credit facility from Oxford Finance with $50 million drawn at closing. Management projected funding into 2028. For ARCHER II, 659 patients were enrolled in the Phase III geographic atrophy trial, 30 above the original target, with compliance above 95% and discontinuation under 10%. Primary endpoints were achieved above 90% at both month 15 and month 24. A GBS BLA submission for tanruprubart is expected in Q4 2026.