Annexon, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $184.7M | $119.4M | $113.8M | $112.5M | $100.1M |
| Operating expenses | $216.4M | $154.1M | $143.7M | $145.6M | $130.7M |
| Operating income | -$216.4M | -$154.1M | -$143.7M | -$145.6M | -$130.7M |
| Pretax income | -$206.7M | -$138.2M | $134.2M | $141.9M | $130.3M |
| Income tax expense | $0 | $0 | $0 | $0 | — |
| Net income | -$206.7M | -$138.2M | -$134.2M | -$141.9M | -$130.3M |
| Balance Sheet | |||||
| Cash and equivalents | $162.1M | $49.5M | $225.1M | $140.0M | $74.8M |
| Current assets | $242.2M | $316.5M | $263.9M | $248.1M | $247.7M |
| Total assets | $277.6M | $350.1M | $297.7M | $285.1M | $287.0M |
| Current liabilities | $42.6M | $30.5M | $17.9M | $22.4M | $21.7M |
| Total liabilities | $65.9M | $57.0M | $47.1M | $53.9M | $55.1M |
| Stockholders' equity | $211.6M | $293.1M | $250.6M | $231.2M | $231.9M |
| Cash Flow Statement | |||||
| Cash from operations | -$186.4M | -$118.0M | -$121.1M | -$116.3M | -$106.1M |
| Depreciation and amortization | $2.2M | $2.1M | $2.1M | $2.1M | $2.1M |
| Stock-based compensation | $16.4M | $19.4M | $18.2M | $18.5M | $16.3M |
| Capital expenditure | $137,000 | $15,000 | $193,000 | $6.5M | $1.7M |
| Free cash flow | -$186.5M | -$118.0M | -$121.3M | -$122.8M | -$107.8M |
Shares outstanding 163.8M · Free float 88.4%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.