Annexin Pharmaceuticals (ANNX) Q3 2024 earnings summary

Executive summary

• Reported promising topline results from phase 2a study of ANXV in retinal vein occlusion (RVO), showing favorable safety and potential efficacy, supporting further clinical development and partnership discussions.

• Continued strong interest from potential partners and scientific community, with invitations to present at international conferences.

• Ongoing cancer development projects with ANXV progressing as planned, including immunotherapy and conjugate drug approaches.

Financial highlights

• Net loss for Q3 2024 was -10,928 TSEK (Q3 2023: -10,836 TSEK); for Jan–Sep 2024, net loss was -37,901 TSEK (Jan–Sep 2023: -29,506 TSEK).

• Earnings per share for Q3 2024 was -0.03 SEK (-0.07); for Jan–Sep 2024, -0.09 SEK (-0.18).

• Cash flow from operations for Q3 2024 was -11,688 TSEK (-10,975); for Jan–Sep 2024, -39,948 TSEK (-30,785).

• Cash and cash equivalents at period end were 25,640 TSEK (11,305), boosted by a rights issue completed in June 2024.

Outlook and guidance

• Financing is secured until the end of March 2025, with ongoing evaluation of additional funding options.

• Further details from the RVO study and deeper regulatory and partnership discussions are expected in late 2024.