Why Annexon (ANNX) Stock Is Getting Hammered

Annexon Inc ANNX shares are trading lower by some 57.16% to $2.96 Thursday morning. The company announced topline results from its ARCHER Phase 2 trial of ANX007 in patients with geographic atrophy (GA).

What Happened?

Annexon says ANX007 was generally well tolerated as both a monthly and every-other-month treatment.

The company also says ANX007 was “generally well-tolerated,” noting there were three cases of endophthalmitis or inflammation on the inner shield of the eye, but they were found to be administration-related, not treatment-related.

The six-month off-treatment follow-up period of the ARCHER Phase 2 trial is ongoing, and Annexon plans to report the final results following the study conclusion...Read More

According to data from Benzinga Pro, ANNX has a 52-week high of $7.65 and a 52-week low of $2.15.