Annexon, Inc. filed its quarterly report on Form 10-Q with the SEC on August 12, 2026, covering the fiscal quarter ended June 30, 2026, disclosing financial results and balance sheet data for the period.

Key Highlights

  • Net loss of $55.3 million for the three months ended June 30, 2026, compared to a net loss of $49.2 million in the same quarter of 2025.
  • Total operating expenses of $57.2 million in Q2 2026, up from $51.7 million in Q2 2025, driven by research and development of $46.6 million and general and administrative expenses of $10.6 million.
  • Cash and cash equivalents of $199.3 million as of June 30, 2026, compared to $162.1 million as of December 31, 2025.
  • Accumulated deficit reached $1.016 billion as of June 30, 2026, up from $917.4 million at December 31, 2025.
  • 189,579,134 shares of common stock outstanding as of August 10, 2026, with an additional 14,865,799 shares issuable upon exercise of pre-funded warrants.
  • Total stockholders' equity of $186.1 million as of June 30, 2026, down from $211.6 million at December 31, 2025.

Annexon Q2 2026 Financial Results: Operating Losses and Capital Position

According to the filing, Annexon, Inc. (NASDAQ:ANNX) reported a net loss of $55,348 thousand for the three months ended June 30, 2026, compared to a net loss of $49,156 thousand for the same period in 2025. For the six months ended June 30, 2026, the company reported a net loss of $99,490 thousand, compared to $103,512 thousand for the first half of 2025. Net loss per share, basic and diluted, was $(0.28) for Q2 2026, compared to $(0.34) in Q2 2025, on weighted-average shares of 201,003,269 and 148,320,803, respectively.

The filing shows research and development expenses of $46,590 thousand in Q2 2026, up from $44,160 thousand in Q2 2025. General and administrative expenses rose to $10,637 thousand in Q2 2026 from $7,566 thousand in the prior-year quarter. Interest and other income, net, was $1,879 thousand for Q2 2026, compared to $2,570 thousand in Q2 2025. The company reported no revenue for either period disclosed.

On the balance sheet, total assets were $246,068 thousand as of June 30, 2026, down from $277,571 thousand at December 31, 2025. Short-term investments declined to $9,973 thousand from $76,294 thousand over the same period, while cash and cash equivalents increased to $199,270 thousand from $162,051 thousand. The company raised capital during the period, including two issuances of common stock generating net proceeds of $32,694 thousand and $31,013 thousand, respectively, according to the statements of stockholders' equity. Stock-based compensation totaled $4,813 thousand in Q2 2026.

What Was Disclosed

Annexon's 10-Q for the quarter ended June 30, 2026, reported continued operating losses with no revenue, an accumulated deficit exceeding $1 billion, and capital raises during the period. Total liabilities were $60,007 thousand and total stockholders' equity was $186,061 thousand at quarter end.