Annexon, Inc.

Annexon, Inc.

ANNX·NASDAQ

$5.39

+2.5%
HealthcareBiotechnology

Annexon, Inc., a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic disorders. The company's C1q is an initiating molecule of the classical complement pathway that targets distinct disease processes, such as antibody-mediated autoimmune disease and complement-mediated neurodegeneration. Its product candidates include ANX005, a monoclonal antibody, which is in Phase II/III clinical trials to treat patients with guillain- barré syndrome; Phase II trial in patients with warm autoimmune hemolytic anemia; and Phase II clinical trial for Huntington's disease and amyotrophic lateral sclerosis. The company is also developing ANX009 that is in Phase Ib trial in patients with lupus nephritis; and ANX007, which is in Phase II clinical trials to treat patients with geographic atrophy. In addition, it develops ANX105, an investigational monoclonal antibody targeting neurodegenerative indications; and ANX1502, an investigational oral small molecule for the treatment of certain autoimmune indications. The company was incorporated in 2011 and is headquartered in Brisbane, California.

At a Glance

Live Snapshot
Market Cap$644.62M
EPS-1.3400
P/E Ratio-4.02
Earnings Date08/13/2026
3Y+60.0%
5Y+251.0%
10Y+868.0%
3Y+225.0%
5Y-329.0%
10Y-33619.0%
3Y-11.0%
5Y-70.0%
10Y+259079.0%
ANNX

Annexon, Inc. Cash Conversion Engine

ANNX · NASDAQ
Net Income-206.69M
Depreciation & Amortization2.17M
Stock-Based Compensation16.42M
Change in Working Capital4.23M
Others-2.48M
Capital Expenditures-137.00K
Free Cash Flow-186.49M

Cash Flow Quality Analysis

FCF Conversion Rate

90.2%

Strong cash conversion. Most reported earnings translate into actual cash flow, suggesting solid fundamentals.

CapEx Intensity

-0.1%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

-58.0%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

+$4.23M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

Annexon, Inc. Cash Flow Statement

ANNX • NASDAQ

Annexon, Inc. Cash Flow StatementDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017
OPERATING ACTIVITIES
-206.7M
-138.2M
-134.2M
-141.9M
-130.3M
-63.4M
-37.2M
-18.3M
-18.7M
2.2M
2.2M
2.1M
2.1M
3.4M
667K
493K
488K
271K
16.4M
19.4M
18.2M
18.5M
0.0
4.9M
2M
408K
401K
-2.5M
-7.8M
-1.4M
1.3M
17.5M
53K
5.7M
-260K
799K
(5.1M)
(4.9M)
(0.0)
(0.0)
(0.0)
(0.0)
(2K)
(1K)
(0.0)
4.2M
6.4M
-5.8M
3.7M
3.3M
4.7M
625K
478K
-1.2M
-186.4M
-118M
-121.1M
-116.3M
-106.1M
-53.1M
-28.4M
-17.2M
-19.3M
INVESTING ACTIVITIES
-137K
-15K
-193K
-6.5M
-1.7M
-464K
-267K
-17K
-567K
(0.0)
(0.0)
(0.0)
-65K
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
-212.2M
-583.9M
-108.1M
-113.2M
-225.6M
-82.7M
(0.0)
(0.0)
(0.0)
402.4M
365.2M
179M
178.2M
139M
0.0
0.0
0.0
0.0
0.0
0.0
0.0
65K
0.0
-82.7K
0.0
0.0
0.0
(190.1M)
-218.8M
(70.7M)
(58.4M)
-88.2M
-83.2M
-267K
-17K
-567K
FINANCING ACTIVITIES
110.5M
161.9M
135.5M
130.5M
1.8M
267M
0.0
0.0
0.0
-1.9M
(0.0)
(0.0)
(0.0)
(0.0)
-6.2M
(0.0)
(0.0)
(0.0)
238K
-665K
14K
-7.6M
0.0
3.3M
-1.6M
121K
42K
108.9M
161.2M
135.5M
122.9M
1.8M
360.9M
28.4M
58.5M
42K
CASH FLOW SUMMARY
2K
-15K
5K
1K
-1.2M
9K
-14K
-40K
-24K
112.6M
-175.6M
85.1M
65M
-193.7M
224.6M
-244K
41.2M
-19.8M
50.5M
226.1M
141.1M
76M
268.6M
43.9M
44.2M
3M
22.8M
163.1M
50.5M
226.1M
141.1M
74.8M
268.6M
43.9M
44.2M
3M
-186.5M
-118M
-121.3M
-122.8M
-107.8M
-53.6M
-28.6M
-17.2M
-19.8M

SEC Filings

ANNX - Filing history and reports

Filing TypeFiling DatePeriod EndingFiscal YearActions
10-Q

10-Q 2026 Q1

Q1

May 07, 2026
March 31, 2026
2026
8-K

8-K 2026

N/A

May 07, 2026
May 07, 2026
2026
DEF 14A

DEF 14A 2026

N/A

April 27, 2026
June 11, 2026
2026
10-K

10-K 2025 FY

FY

March 30, 2026
December 31, 2025
2025
8-K

8-K 2026

N/A

March 30, 2026
March 30, 2026
2026
8-K

8-K 2026

N/A

February 17, 2026
February 12, 2026
2026
8-K

8-K 2026

N/A

January 14, 2026
January 14, 2026
2026
8-K

8-K 2026

N/A

January 12, 2026
January 12, 2026
2026
8-K

8-K 2025

N/A

November 14, 2025
November 12, 2025
2025
10-Q

10-Q 2025 Q3

Q3

November 10, 2025
September 30, 2025
2025
Showing 1 to 10 of 106 filings