$ANNX
Annexon, Inc.

2020 Q3 Form 10-Q Financial Statement

#000119312520241119 Filed on September 08, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 Q2 2019 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.810M $2.950M $2.230M
YoY Change 92.42% 32.29%
% of Gross Profit
Research & Development $11.78M $9.287M $5.987M
YoY Change 66.1% 55.12%
% of Gross Profit
Depreciation & Amortization $100.0K $130.0K $120.0K
YoY Change -16.67% 8.33% -52.0%
% of Gross Profit
Operating Expenses $15.59M $12.24M $8.217M
YoY Change 71.83% 48.92%
Operating Profit -$15.59M -$12.24M -$8.217M
YoY Change 71.83% 48.92%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$52.00K $1.000K $376.0K
YoY Change -123.21% -99.73%
Pretax Income -$15.64M -$12.24M -$9.401M
YoY Change 53.51% 30.16%
Income Tax $1.000K $4.000K $0.00
% Of Pretax Income
Net Earnings -$15.64M -$12.24M -$9.401M
YoY Change 53.49% 30.2%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$549.4K -$65.35K -$50.19K
COMMON SHARES
Basic Shares Outstanding 38.15M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $370.7M $124.8M $31.50M
YoY Change 590.32% 296.19%
Cash & Equivalents $370.7M $124.8M $31.45M
Short-Term Investments
Other Short-Term Assets $4.000K $900.0K $1.800M
YoY Change -99.56% -50.0%
Inventory
Prepaid Expenses $2.375M $574.0K
Receivables
Other Receivables
Total Short-Term Assets $373.6M $125.7M $33.50M
YoY Change 582.95% 275.13%
LONG-TERM ASSETS
Property, Plant & Equipment $2.039M $2.048M $2.100M
YoY Change -7.32% -2.48%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $3.371M $100.0K
YoY Change -100.0% 3271.0%
Total Long-Term Assets $2.039M $5.419M $2.200M
YoY Change -47.72% 146.32%
TOTAL ASSETS
Total Short-Term Assets $373.6M $125.7M $33.50M
Total Long-Term Assets $2.039M $5.419M $2.200M
Total Assets $375.6M $131.1M $35.70M
YoY Change 540.98% 267.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.954M $3.064M $2.200M
YoY Change 52.08% 39.27%
Accrued Expenses $4.649M $9.218M $1.400M
YoY Change 111.32% 558.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.988M $12.66M $3.900M
YoY Change 76.24% 224.62%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.100M $1.200M $1.600M
YoY Change -26.67% -25.0%
Total Long-Term Liabilities $1.100M $1.200M $1.600M
YoY Change -26.67% -25.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.988M $12.66M $3.900M
Total Long-Term Liabilities $1.100M $1.200M $1.600M
Total Liabilities $10.14M $13.91M $5.500M
YoY Change 51.27% 152.85%
SHAREHOLDERS EQUITY
Retained Earnings -$142.8M -$127.2M
YoY Change
Common Stock $38.00K $4.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $365.5M -$117.9M -$81.89M
YoY Change
Total Liabilities & Shareholders Equity $375.6M $131.1M $35.70M
YoY Change 540.98% 267.19%

Cashflow Statement

Concept 2020 Q3 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$15.64M -$12.24M -$9.401M
YoY Change 53.49% 30.2%
Depreciation, Depletion And Amortization $100.0K $130.0K $120.0K
YoY Change -16.67% 8.33% -52.0%
Cash From Operating Activities -$13.58M -$10.25M -$6.700M
YoY Change 97.67% 52.99% -25.88%
INVESTING ACTIVITIES
Capital Expenditures -$270.0K -$20.00K -$20.00K
YoY Change 80.0% 0.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$270.0K -$20.00K -$20.00K
YoY Change 80.0% 0.0% 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 259.8M 101.7M 0.000
YoY Change 788.44% -100.0%
NET CHANGE
Cash From Operating Activities -13.58M -10.25M -6.700M
Cash From Investing Activities -270.0K -20.00K -20.00K
Cash From Financing Activities 259.8M 101.7M 0.000
Net Change In Cash 245.9M 91.40M -6.720M
YoY Change 1006.8% -1460.12% -245.77%
FREE CASH FLOW
Cash From Operating Activities -$13.58M -$10.25M -$6.700M
Capital Expenditures -$270.0K -$20.00K -$20.00K
Free Cash Flow -$13.31M -$10.23M -$6.680M
YoY Change 98.07% 53.14% -25.94%

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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.67
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.77
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
16828000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y10M13D
CY2020Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
10236000
CY2020Q2 annx Accrued Commission Related To Issuance Of Redeemable Convertible Preferred Stock Current
AccruedCommissionRelatedToIssuanceOfRedeemableConvertiblePreferredStockCurrent
5055000
CY2019Q4 annx Accrued Commission Related To Issuance Of Redeemable Convertible Preferred Stock Current
AccruedCommissionRelatedToIssuanceOfRedeemableConvertiblePreferredStockCurrent
0
CY2020Q2 annx Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
1610000
CY2019Q4 annx Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
459000
CY2020Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1002000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
733000
CY2020Q2 annx Accrued Compensation Current
AccruedCompensationCurrent
904000
CY2019Q4 annx Accrued Compensation Current
AccruedCompensationCurrent
926000
CY2020Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
647000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
763000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
437000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1426000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
903000
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.85
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.76
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.85
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0033
dei Entity Shell Company
EntityShellCompany
false
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Current Reporting Status
EntityCurrentReportingStatus
No
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Security12b Title
Security12bTitle
Common Stock, par value $0.001 per share
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M3D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y6M
dei Entity Registrant Name
EntityRegistrantName
Annexon, Inc.
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0045
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0187
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0220
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0033
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0145
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0187
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0261
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
8000
CY2020Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
15400000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
8000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-39402
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
27-5414423
dei Entity Address Address Line1
EntityAddressAddressLine1
180 Kimball Way
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 200
dei Entity Address City Or Town
EntityAddressCityOrTown
South San Francisco
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94080
dei City Area Code
CityAreaCode
650
dei Local Phone Number
LocalPhoneNumber
822-5500
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
942042
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y2M12D
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.39
CY2019Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
5140000
us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
4330000
CY2020Q2 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
9470000
CY2020Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
88000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
176000
CY2019Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
88000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
176000
CY2020Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P7Y
CY2020Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2020Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
24228312
CY2019Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
15145546
annx Lessee Operating Lease Expiration Month And Year
LesseeOperatingLeaseExpirationMonthAndYear
2024-06-30
CY2020Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="display:inline;"><div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Use of Estimates </div></div></div></div></div></div><div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="display:inline;"><div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported expenses during the reporting period. On an ongoing basis, management evaluates its estimates, including but not limited to the fair value of common stock, redeemable convertible preferred stock, redeemable convertible preferred stock liability, stock options, income taxes and certain accruals. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could differ from those estimates. </div></div></div></div> <div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div> <div style="font-family: 'times new roman'; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
500000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
500000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
76000
dei Trading Symbol
TradingSymbol
ANNX
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Increase In Carrying Amount Of Redeemable Preferred Stock
AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock
279000
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
663000
CY2020Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-11000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-12341000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
-112422000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
6297000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Increase In Carrying Amount Of Redeemable Preferred Stock
AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock
281000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
763000
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3000
CY2020Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1566000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1304000
CY2020Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
38148090

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annx-20200630.xml Edgar Link completed
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