Annexon, Inc.
For the period ended Dec 31, 2025. Filed Mar 30, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 30, 2026
ANNX$4.21-0.5%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| Year EndedDecember 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities: | ||
| Net loss | $(206,690) | $(138,200) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 2,166 | 2,150 |
| Accretion of discount on available-for-sale securities | (4,005) | (9,054) |
| Stock-based compensation | 16,423 | 19,433 |
| Reduction in the carrying amount of right-of-use assets | 1,520 | 1,304 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 598 | (300) |
| Other non-current assets | (5,311) | (3,184) |
| Accounts payable | 4,491 | 4,936 |
| Accrued and other current liabilities | 7,223 | 7,292 |
| Operating lease liabilities | (2,771) | (2,383) |
| Net cash used in operating activities | (186,356) | (118,006) |
| Investing activities: | ||
| Purchases of property and equipment | (137) | (15) |
| Purchases of available-for-sale securities | (212,211) | (583,932) |
| Proceeds from maturities of available-for-sale securities | 402,400 | 365,150 |
| Net cash provided by (used in) investing activities | 190,052 | (218,797) |
| Financing activities: | ||
| Proceeds from the exercise of common stock options | 461 | 1,232 |
| Proceeds from employee stock purchase plan purchases | 454 | 362 |
| Proceeds from the issuance of common stock | 28,488 | 44,371 |
| Proceeds from the issuance of common stock and pre-funded warrants, net of commissions | 81,071 | 117,500 |
| Payment of financing costs | (1,619) | (2,259) |
| Net cash provided by financing activities | 108,855 | 161,206 |
| Increase (decrease) in cash, cash equivalents and restricted cash | 112,551 | (175,597) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 2 | (15) |
| Cash, cash equivalents and restricted cash | ||
| Beginning of period | 50,530 | 226,142 |
| End of period | $163,083 | $50,530 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for amounts included in the measurement of lease liability | $5,065 | $4,893 |
| Non-cash investing and financing activities: | ||
| Deemed dividend on modification of common stock warrants | $1,857 | $— |
| Deferred offering costs included in other non-current assets | $— | $51 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.