ANNX - Annexon, Inc.
Price:
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--
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$11.50
DETAILS
HIGH:
$16.00
LOW:
$7.00
MEDIAN:
$11.50
CONSENSUS:
$11.50
UPSIDE:
116.57%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of Revenue | 3.7 | 3.5 | 0 | 0 | 0 | 0 | 0 | 0.5 | 0.3 |
| Gross Profit | (3.7) | (3.5) | 0 | 0 | 0 | 0 | 0 | (0.5) | (0.3) |
| Operating Expenses | |||||||||
| R&D Expenses | 184.7 | 119.4 | 113.8 | 112.5 | 100.1 | 49.3 | 24.5 | 15.5 | 17.9 |
| SG&A Expenses | 31.7 | 34.6 | 28.0 | 30.9 | 30.6 | 14.2 | 8.0 | 3.6 | 2.4 |
| Other Expenses | (3.7) | (3.5) | 1.9 | 2.2 | 0 | 0 | 0 | 0.8 | 0 |
| Operating Expenses | 212.7 | 150.6 | 143.7 | 145.6 | 130.7 | 63.5 | 32.5 | 19.1 | 20.2 |
| Operating Income | |||||||||
| Operating Income | (216.4) | (154.1) | (143.7) | (145.6) | (130.7) | (63.5) | (32.5) | (19.1) | (20.5) |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 9.7 | 0 | 9.5 | 3.7 | 0 | 0 | 0 | 0 | 0.4 |
| Profitability | |||||||||
| EBITDA | (213.8) | (134.7) | (141.6) | (143.4) | (128.6) | (62.8) | (32.0) | (18.7) | (20.2) |
| EBIT | (216.4) | (138.2) | (143.7) | (145.6) | (130.7) | (63.5) | (32.5) | (19.1) | (20.5) |
| Income Before Tax | (206.7) | (138.2) | (134.2) | (141.9) | (130.3) | (63.4) | (37.2) | (18.3) | (18.7) |
| Income Tax Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0.0 | 0.0 | 0.0 |
| Net Income | (206.7) | (138.2) | (134.2) | (141.9) | (130.3) | (63.4) | (37.2) | (18.3) | (18.7) |
| Per Share Data | |||||||||
| EPS (Basic) | -1.34 | -1.01 | -1.77 | -2.60 | -3.34 | -3.70 | -0.97 | -1.60 | -0.49 |
| EPS (Diluted) | -1.34 | -1.01 | -1.77 | -2.60 | -3.34 | -3.70 | -0.97 | -1.60 | -0.49 |
| Shares Outstanding | 155.1 | 137.4 | 75.7 | 54.7 | 38.3 | 17.0 | 38.2 | 11.5 | 38.2 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||
| Cash & Cash Equivalents | 162.1 | 49.5 | 225.1 | 140.0 | 74.8 | 268.6 | 43.9 | 44.2 | 3.0 |
| Short-Term Investments | 76.3 | 262.5 | 34.6 | 102.6 | 167.9 | 82.6 | 0 | 0 | 0 |
| Net Receivables | 0 | 0 | 0 | 0 | 0 | 0.0 | 0.1 | 0.2 | 0.6 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 3.8 | 1.1 | 0.1 | 0.2 | 0.5 | 0 | 0 | 0 | 0 |
| Total Current Assets | 242.2 | 316.5 | 263.9 | 248.1 | 247.7 | 354.0 | 45.4 | 45.7 | 4.9 |
| Non-Current Assets | |||||||||
| Property, Plant & Equipment | 25.8 | 29.3 | 32.8 | 36.0 | 38.2 | 1.9 | 2.1 | 2.3 | 2.8 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 1.0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 9.6 | 4.3 | 1.0 | 0 | 1.2 | 0 | 2.4 | 0.1 | 0.1 |
| Total Non-Current Assets | 35.4 | 33.6 | 33.8 | 37.0 | 39.3 | 1.9 | 4.5 | 2.4 | 2.9 |
| Total Assets | 277.6 | 350.1 | 297.7 | 285.1 | 287.0 | 355.9 | 49.9 | 48.1 | 7.8 |
| Current Liabilities | |||||||||
| Account Payables | 14.9 | 10.4 | 5.5 | 7.4 | 11.2 | 3.7 | 2.4 | 1.3 | 1.5 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 24.8 | 6.0 | 5.6 | 0.2 | 2.1 | 2.9 | 0.4 | 0.3 | 1.0 |
| Total Current Liabilities | 42.6 | 30.5 | 17.9 | 22.4 | 21.7 | 10.6 | 4.9 | 3.3 | 2.9 |
| Non-Current Liabilities | |||||||||
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 107.2 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 1.0 | 1.4 | (100.3) | 51.1 |
| Total Non-Current Liabilities | 23.3 | 26.5 | 29.2 | 31.5 | 33.4 | 1.0 | 1.4 | 6.9 | 51.1 |
| Total Liabilities | 65.9 | 57.0 | 47.1 | 53.9 | 55.1 | 11.7 | 6.4 | 10.3 | 54.0 |
| Stockholders' Equity | |||||||||
| Common Stock | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | (917.4) | (710.7) | (572.5) | (438.3) | (296.3) | (166.0) | (102.6) | (65.4) | (47.1) |
| Accumulated Other Comprehensive Income | (0.0) | 0.0 | (0.1) | (0.4) | (0.2) | (0.1) | (0.1) | (0.1) | (0.0) |
| Total Stockholders' Equity | 211.6 | 293.1 | 250.6 | 231.2 | 231.9 | 344.3 | 43.5 | 37.9 | (46.2) |
| Total Liabilities & Equity | 277.6 | 350.1 | 297.7 | 285.1 | 287.0 | 355.9 | 49.9 | 48.1 | 7.8 |
| Debt Metrics | |||||||||
| Total Debt | 26.2 | 29.0 | 31.4 | 32.9 | 34.6 | 0 | 0 | 107.2 | 49.0 |
| Net Debt | (135.8) | (20.5) | (193.8) | (107.2) | (40.3) | (268.6) | (43.9) | 63.0 | 46.0 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||
| Net Income | (206.7) | (138.2) | (134.2) | (141.9) | (130.3) | (63.4) | (37.2) | (18.3) | (18.7) |
| Depreciation & Amortization | 2.2 | 2.1 | 2.1 | 2.1 | 3.4 | 0.7 | 0.5 | 0.5 | 0.3 |
| Stock-Based Compensation | 16.4 | 19.4 | 18.2 | 18.5 | 0 | 4.9 | 2.0 | 0.4 | 0.4 |
| Change in Working Capital | 4.2 | 6.4 | (5.8) | 3.7 | 3.3 | 4.7 | 0.6 | 0.5 | (1.2) |
| Other Non-Cash Items | (2.5) | (7.8) | (1.4) | 1.3 | 17.5 | 0.1 | 5.7 | (0.3) | 0.8 |
| Operating Cash Flow | (186.4) | (118.0) | (121.1) | (116.3) | (106.1) | (53.1) | (28.4) | (17.2) | (19.3) |
| Investing Activities | |||||||||
| Capital Expenditure | (0.1) | (0.0) | (0.2) | (6.5) | (1.7) | (0.5) | (0.3) | (0.0) | (0.6) |
| Acquisitions | 0 | 0 | 0 | (0.1) | 0 | 0 | 0 | 0 | 0 |
| Purchases of Investments | (212.2) | (583.9) | (108.1) | (113.2) | (225.6) | (82.7) | 0 | 0 | 0 |
| Sales/Maturities of Investments | 402.4 | 365.1 | 179.0 | 178.2 | 139.0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0 | 0 | 0 | 0.1 | 0 | (0.1) | 0 | 0 | 0 |
| Investing Cash Flow | 190.1 | (218.8) | 70.7 | 58.4 | (88.2) | (83.2) | (0.3) | (0.0) | (0.6) |
| Financing Activities | |||||||||
| Net Debt Issuance | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | (1.9) | 0 | 0 | 0 | 0 | (6.2) | 0 | 0 | 0 |
| Other Financing Activities | 0.2 | (0.7) | 0.0 | (7.6) | 0 | 3.3 | (1.6) | 0.1 | 0.0 |
| Financing Cash Flow | 108.9 | 161.2 | 135.5 | 122.9 | 1.8 | 360.9 | 28.4 | 58.5 | 0.0 |
| Cash Position | |||||||||
| Net Change in Cash | 112.6 | (175.6) | 85.1 | 65.0 | (193.7) | 224.6 | (0.2) | 41.2 | (19.8) |
| Cash at Beginning | 50.5 | 226.1 | 141.1 | 76.0 | 268.6 | 43.9 | 44.2 | 3.0 | 22.8 |
| Cash at End | 163.1 | 50.5 | 226.1 | 141.1 | 74.8 | 268.6 | 43.9 | 44.2 | 3.0 |
| Free Cash Flow | (186.5) | (118.0) | (121.3) | (122.8) | (107.8) | (53.6) | (28.6) | (17.2) | (19.8) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | (3.7) | (3.5) | 0 | 0 | 0 | 0 | 0 | (0.5) | (0.3) |
| Operating Income | (216.4) | (154.1) | (143.7) | (145.6) | (130.7) | (63.5) | (32.5) | (19.1) | (20.5) |
| Net Income | (206.7) | (138.2) | (134.2) | (141.9) | (130.3) | (63.4) | (37.2) | (18.3) | (18.7) |
| EPS (Diluted) | -1.34 | -1.01 | -1.77 | -2.60 | -3.34 | -3.70 | -0.97 | -1.60 | -0.49 |
| Balance Sheet | |||||||||
| Cash & Equivalents | 162.1 | 49.5 | 225.1 | 140.0 | 74.8 | 268.6 | 43.9 | 44.2 | 3.0 |
| Total Assets | 277.6 | 350.1 | 297.7 | 285.1 | 287.0 | 355.9 | 49.9 | 48.1 | 7.8 |
| Total Debt | 26.2 | 29.0 | 31.4 | 32.9 | 34.6 | 0 | 0 | 107.2 | 49.0 |
| Stockholders' Equity | 211.6 | 293.1 | 250.6 | 231.2 | 231.9 | 344.3 | 43.5 | 37.9 | (46.2) |
| Cash Flow | |||||||||
| Operating Cash Flow | (186.4) | (118.0) | (121.1) | (116.3) | (106.1) | (53.1) | (28.4) | (17.2) | (19.3) |
| Capital Expenditure | (0.1) | (0.0) | (0.2) | (6.5) | (1.7) | (0.5) | (0.3) | (0.0) | (0.6) |
| Free Cash Flow | (186.5) | (118.0) | (121.3) | (122.8) | (107.8) | (53.6) | (28.6) | (17.2) | (19.8) |