Annexon: ANX007 Advances Forward With Stellar Endpoint

Summary

• Alignment with FDA reached to have phase 3 ARROW study use Best Corrected Visual Acuity ≥ 15-Letter Loss as the primary endpoint; Significance of this could mean competitive advantage.
• A sham-controlled trial, known as ARCHER II expected to begin in mid-2024, could provide a quicker pathway towards European regulatory approval.
• The prior phase 2 ARCHER study showed that patients given ANX-007 achieved the endpoint of protection of vision loss measured by BCVA compared to baseline.
• Pricing of $125 million worth of common stock should help it advance several of its drugs forward in the pipeline and to fund its operations.
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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.