Annexon (ANNX) financial statements
Net income was -$207M.
Free cash flow was -$186M.
The diluted share count rose 35680% over the period (dilution).
Income statement
Fiscal years, from Annexon's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Research and development | $25M | $49M | $100M | $113M | $114M | $119M | $185M |
| Selling, general and admin | $8M | $14M | $31M | $33M | $30M | $35M | $32M |
| Operating income | -$33M | -$63M | -$131M | -$146M | -$144M | -$154M | -$216M |
| Pre-tax income | -$37M | -$63M | $130M | $142M | $134M | -$138M | -$207M |
| Income tax | $4,000 | — | — | $0 | $0 | $0 | $0 |
| Net income | -$37M | -$63M | -$130M | -$142M | -$134M | -$138M | -$207M |
| EPS (diluted) | -$88.30 | -$4.15 | -$3.40 | -$2.60 | -$1.77 | -$1.01 | -$1.34 |
| Diluted shares | 0M | 17M | 38M | 55M | 76M | 137M | 155M |
Balance sheet
Fiscal years, from Annexon's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $44M | $351M | $243M | $243M | $260M | $312M | $238M |
| Total current assets | $45M | $354M | $248M | $248M | $264M | $316M | $242M |
| Property, plant and equipment | $2M | $2M | $18M | $17M | $15M | $13M | $11M |
| Total assets | $50M | $356M | $287M | $285M | $298M | $350M | $278M |
| Total current liabilities | $5M | $11M | $22M | $22M | $18M | $31M | $43M |
| Total liabilities | $6M | $12M | $55M | $54M | $47M | $57M | $66M |
| Shareholders' equity | -$100M | $344M | $232M | $231M | $251M | $293M | $212M |
| Net debt | -$44M | -$269M | -$75M | -$140M | -$225M | -$49M | -$162M |
Cash flow
Fiscal years, from Annexon's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$28M | -$53M | -$106M | -$116M | -$121M | -$118M | -$186M |
| Capital spending | $267,000 | $464,000 | $2M | $7M | $193,000 | $15,000 | $137,000 |
| Free cash flow | -$29M | -$54M | -$108M | -$123M | -$121M | -$118M | -$186M |
| Stock-based compensation | $2M | $5M | $16M | $19M | $18M | $19M | $16M |
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How much free cash flow does Annexon generate?
-$186M in fiscal 2025 (operating cash flow minus capital spending).
From Annexon's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.