Annexon completes $86.25 million public offering

Annexon Inc (NASDAQ: ANNX) completed its underwritten public offering, raising gross proceeds of approximately $86.25 million before underwriting discounts and expenses.

The biopharmaceutical company sold 29,423,075 shares of common stock at $2.60 per share. The offering included the full exercise of underwriters' option to purchase 4,326,922 additional shares. Annexon also issued pre-funded warrants to purchase 3,750,000 shares at $2.599 per share to certain investors.

Goldman Sachs & Co. LLC, TD Cowen and Wells Fargo Securities served as joint book-running managers for the offering.

The company conducted the offering under a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on March 26, 2024, which became effective April 1, 2024.

Annexon focuses on developing complement inhibitors targeting neuroinflammation for diseases affecting the body, brain and eye. The company's approach centers on C1q, a molecule in the classical complement pathway.

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