Annexin Pharmaceuticals (ANNX) Q4 2024 earnings summary

Executive summary

• Focused on business development and final analysis of phase 2a study in retinal vein occlusion (RVO) with ANXV, confirming clinically relevant efficacy and favorable safety profile.

• Announced capital raise and intensified partnership discussions to advance ANXV in clinical development, with plans to expand into diabetic retinopathy and oncology.

• 2024 confirmed strategic direction with promising phase 2a data and strong interest from scientific and commercial stakeholders.

Financial highlights

• Net loss for Q4 2024 was -12,350 TSEK (vs. -14,548 TSEK Q4 2023); full-year net loss -50,252 TSEK (vs. -44,054 TSEK 2023).

• Earnings per share for Q4 was -0.03 SEK (vs. -0.09); full-year -0.11 SEK (vs. -0.26).

• Cash flow from operations for Q4 was -10,281 TSEK (vs. -12,616); full-year -50,228 TSEK (vs. -43,401).

• Cash and cash equivalents at year-end were 16,337 TSEK (vs. 21,415 TSEK).

• Equity per share at year-end was 0.03 SEK (vs. 0.11 SEK).

Outlook and guidance

• Announced a rights issue of up to 50 MSEK, 80% underwritten, subject to EGM approval; subscription period planned for March 2025.

• New loan facilities of up to 15 MSEK from main shareholders available until June 2025; no drawdowns as of February 2025.

• Proceeds to fund expansion of ANXV into diabetic retinopathy, phase 2b preparations in RVO, and preclinical oncology studies.

• Board assesses financing secured until mid-2025 via loans and, if rights issue is fully subscribed, until Q1 2026.