IPO Lockup Expiration Alert: Annexon (ANNX)

(RTTNews) - The lockup period of South San Francisco, California-based Annexon (ANNX) expires tomorrow, i.e., on January 20.

Founded in 2011, Annexon is a clinical-stage biopharmaceutical company developing a pipeline of novel therapies for autoimmune and neurodegenerative diseases.

There are three product candidates in the pipeline - ANX005 for intravenous (IV) administration in autoimmune and neurodegenerative disorders, ANX007 for intravitreal (IVT) administration for the treatment of neurodegenerative ophthalmic disorders, and ANX009, an investigational, subcutaneous formulation designed for the treatment of systemic autoimmune diseases.

The company has a couple of milestones to watch out for this year.

Drug-drug interaction (DDI) trial of ANX005 co-administered with IVIg in Guillain-Barre Syndrome patients is ongoing, with data expected in early 2021.

Initial data from the Phase 2 trial in HD is anticipated in 2H 2021.

A phase II trial of ANX005 in patients with Huntington's disease is underway, with initial data anticipated in the second half of 2021.

A phase II trial of ANX005 in patients with amyotrophic lateral sclerosis (ALS) is planned to initiate in early 2021, with initial data anticipated in 2H 2021.

A phase II trial of ANX005 in patients with warm autoimmune hemolytic anemia (wAIHA) is planned to initiate in early 2021.

A phase II trial ANX007 in patients with geographic atrophy (GA) is slated for initiation in early 2021.

A phase I first-in-human trial of ANX009 subcutaneous formulated monoclonal antibody antigen-binding fragment (Fab) is ongoing, with data anticipated in 1H 2021.

Annexon made its debut on The Nasdaq Global Select Market on July 24, 2020, offering its shares at a price of $17 each and as mentioned above, the 180 day lockup period expires on January 20.

ANNX opened the first day of trading on July 24 at $17.40 and closed at $17.76 that day. The stock has thus far hit a low of $15.33 and a high of $31.94.

ANNX closed Tuesday's trading at $27.89, up 1.60%.