On this page of StockholderLetter.com we present the latest annual shareholder letter from Annexon, Inc. — ticker symbol ANNX. Reading current and past ANNX letters to shareholders can bring important insights into the investment thesis.
Dear Fellow Stakeholders,
At Annexon, we are pioneering a novel way to stop inflammation from initiating and driving
diseases of the body, brain and eye
Great companies trace their origins to bold ideas. Annexon was founded on the
distinctive thesis that stopping the immune system s classical complement
pathway where it starts can protect against aberrant inflammation and tissue
destruction in a host of diseases. Today, as we celebrate 10 years of scientific
discovery and innovation, we are proud to be the leading company focused on
shutting down the entire classical complement pathway to deliver gamechanging medicines for patients living with serious complement-mediated
diseases of the body, brain, and eye.
Douglas Love, Esq.
President and Chief Executive
Officer
Our decade-long journey to build a dominant complement-focused pipeline has
been highly intentional, and we re more encouraged and determined than ever
to drive immense value for patients and all stakeholders by fully translating our
pipeline s promise into important medicines. Indeed, years of scientific research
and translational work have culminated in first-in-kind clinical data from
multiple pipeline programs in autoimmune, ophthalmic and neurodegenerative
diseases, with the potential to change the treatment paradigm for both large and
orphan patient populations.
Our mission is to address the high unmet needs of over 8 million
people living with devastating classical complement-mediated diseases
Annexon s foundational research and deep knowledge of the classical complement pathway has led to the
identification of (i) a host of diseases driven by aberrant classical complement inflammation, (ii) patient populations
within these disease areas uniquely impacted by complement activity, and (iii) multiple drug candidates and
formulations tailored to stop classical complement inflammation where it starts in complement-mediated diseases of
the body, brain and eye. This rigorous and intentional approach to drug development has resulted in robust
preclinical and clinical data in devastating diseases such as Guillain-Barr Syndrome (GBS), Huntington s disease
(HD) and geographic atrophy (GA), and supports our thesis that stopping the start of classical complement-driven
inflammation can result in differentiated functional benefit for patients.
Today, Annexon is on the cusp of our first pivotal data readout in GBS, an autoimmune disease that is a serious,
life-threatening neurological emergency for which there are no approved therapies in the United States. Also this
year, we re preparing to initiate two registrational trials in GA and are advancing the first oral classical complement
inhibitor to proof-of-concept for chronic autoimmune diseases. Through these flagship programs and several
mechanistically related programs in the next wave, we are poised to bring our anti-inflammatory platform to
millions of patients and their families impacted by devastating complement-mediated diseases.
Strongly Positioned for the Transformative Year Ahead
In December 2023, we announced a successful $125 million financing and extension of our operating runway into
mid-2026, and we are well-positioned to deliver on multiple mid- and late-stage clinical catalysts, including our
GBS pivotal Phase 3 data, our first potentially best-in-class GA Phase 3 global trial, and our oral drug candidate
proof-of-concept trial in patients.
On behalf of the entire Annexon team, we are deeply grateful to the collaborative medical teams and the brave
patients and their caregivers for their dedicated involvement in our clinical studies. Our outlook for thriving by
helping millions of patients get their lives back is brighter than ever. We would also like to thank our talented
employees, Board of Directors, and Scientific Advisory Board, as well as our stakeholders, for all of their support on
this journey.
Warm regards,
Douglas Love, Esq.
President and Chief Executive Officer
Forward-Looking Statements
Certain of the statements contained in this letter are forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In
some cases, you can identify forward-looking statements by terminology such as anticipate, believe, continue,
could, design, due, expect, goal, intend, may, objective, plan, potential, seek, should,
target, will, would and other similar expressions that are predictions of or indicate future events and future
trends, or the negative of these terms or other comparable terminology. All statements other than statements of
historical facts contained in this letter are forward-looking statements.
These forward-looking statements include, but are not limited to, statements regarding the company s expectations
with regard to the potential benefits from treatment targeting the classical complement pathway and the company s
portfolio; the timing and availability of data and reports from our clinical trials; the timing of commencement of
future clinical trials; paths to market; the company s commitment and ability to develop and advance product
candidates into, and successfully complete, clinical trials; and the company s ability to fully translate its pipeline
into important medicines. Forward-looking statements are not guarantees of future performance and are subject to
risks and uncertainties that could cause actual results and events to differ materially from those anticipated,
including, but not limited to, risks and uncertainties related to: the company s history of net operating losses; the
company s ability to obtain necessary capital to fund its clinical programs; the early stages of clinical development
of the company s product candidates; the effects of COVID-19 or other public health crises on the company s
clinical programs and business operations; the company s ability to obtain regulatory approval of and successfully
commercialize its product candidates; any undesirable side effects or other properties of the company s product
candidates; the company s reliance on third-party suppliers and manufacturers; the outcomes of any future
collaboration agreements; and the company s ability to adequately maintain intellectual property rights for its
product candidates. These and other risks are described in greater detail under the section titled Risk Factors
contained in the company s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and the company s
other filings with the U.S. Securities and Exchange Commission. Any forward-looking statements that the company
makes in this letter are made pursuant to the Private Securities Litigation Reform Act of 1995, as amended, and
speak only as of the date of this letter. Except as required by law, the company undertakes no obligation to publicly
update any forward-looking statements, whether as a result of new information, future events or otherwise.
ANNEXON, INC.
1400 Sierra Point Parkway, Bldg C, Suite 200
Brisbane, California 94005
NOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS
To be held on June 5, 2024
Dear Stockholder:
You are cordially invited to attend the 2024 Annual Meeting of Stockholders (the Annual Meeting ) of
Annexon, Inc., a Delaware corporation (the Company ), on Wednesday, June 5, 2024 at 8:00 a.m. Pacific Time.
This year s Annual Meeting will be held virtually, conducted via live audio webcast. You can attend the meeting
via the internet at www.virtualshareholdermeeting.com/ANNX2024 by using the 16-digit control number that
appears on your proxy card (printed in the box and marked by the arrow) and the instructions that accompanied
your proxy materials.
The Annual Meeting will be held for the following purposes:
1.
To elect the two nominees for director named in the accompanying proxy statement to serve as Class I
directors to hold office until the 2027 annual meeting of stockholders or until their respective successors are
duly elected and qualified.
2.
To ratify the selection by the Audit Committee of our Board of Directors of KPMG LLP as our
independent registered public accounting firm for our fiscal year ending December 31, 2024.
3.
To approve, on a non-binding advisory basis, the compensation of our named executive officers.
4.
To conduct any other business properly brought before the meeting or any continuation, adjournment or
postponement thereof.
These items of business are more fully described in the Proxy Statement accompanying this Notice.
The record date for the Annual Meeting is April 8, 2024. Only stockholders of record at the close of business on that
date may vote at the meeting or any continuation, adjournment or postponement thereof. A complete list of such
stockholders will be open to the examination of any stockholder for a period of ten days prior to the Annual Meeting
for a purpose germane to the meeting at our principal executive offices by stating the purpose of the request and
providing proof of ownership of our common stock. The complete list of such stockholders will also be available to
stockholders during the Annual Meeting at www.virtualshareholdermeeting.com/ANNX2024.
Important Notice Regarding the Availability of Proxy Materials for the Stockholders Meeting to Be Held on
Wednesday, June 5, 2024 at 8:00 a.m. Pacific Time, conducted via live audio webcast.
The proxy statement and annual report to stockholders
are available electronically at www.proxyvote.com.
By Order of the Board of Directors
Douglas Love
President and Chief Executive Officer
Brisbane, California
April 25, 2024
You are cordially invited to attend the Annual Meeting, conducted via live audio webcast. Whether or not
you expect to attend the meeting, please vote by proxy over the telephone or through the internet, or by
completing, dating, signing and returning a proxy that we may mail to you as instructed in these materials,
as promptly as possible in order to ensure your representation at the meeting. Even if you have voted by
proxy, you may still vote at the Annual Meeting. Please note, however, that if your shares are held through a
broker, bank or other nominee and you wish to vote at the Annual Meeting, you must obtain a proxy issued
in your name from that record holder.
•
4/25/2024 Letter Continued (Full PDF)
•
4/25/2023 ANNX Stockholder Letter
•
More "Biotechnology" Category Stockholder Letters
•
ANNX Benford's Law Stock Score = 81
ANNX Shareholder/Stockholder Letter Transcript:

2024 Proxy Statement
2023 Annual Report


Dear Fellow Stakeholders,
At Annexon, we are pioneering a novel way to stop inflammation from initiating and driving
diseases of the body, brain and eye
Great companies trace their origins to bold ideas. Annexon was founded on the
distinctive thesis that stopping the immune system   s classical complement
pathway where it starts can protect against aberrant inflammation and tissue
destruction in a host of diseases. Today, as we celebrate 10 years of scientific
discovery and innovation, we are proud to be the leading company focused on
shutting down the entire classical complement pathway to deliver gamechanging medicines for patients living with serious complement-mediated
diseases of the body, brain, and eye.
Douglas Love, Esq.
President and Chief Executive
Officer
Our decade-long journey to build a dominant complement-focused pipeline has
been highly intentional, and we   re more encouraged and determined than ever
to drive immense value for patients and all stakeholders by fully translating our
pipeline   s promise into important medicines. Indeed, years of scientific research
and translational work have culminated in first-in-kind clinical data from
multiple pipeline programs in autoimmune, ophthalmic and neurodegenerative
diseases, with the potential to change the treatment paradigm for both large and
orphan patient populations.
Our mission is to address the high unmet needs of over 8 million
people living with devastating classical complement-mediated diseases
Annexon   s foundational research and deep knowledge of the classical complement pathway has led to the
identification of (i) a host of diseases driven by aberrant classical complement inflammation, (ii) patient populations
within these disease areas uniquely impacted by complement activity, and (iii) multiple drug candidates and
formulations tailored to stop classical complement inflammation where it starts in complement-mediated diseases of
the body, brain and eye. This rigorous and intentional approach to drug development has resulted in robust
preclinical and clinical data in devastating diseases such as Guillain-Barr   Syndrome (GBS), Huntington   s disease
(HD) and geographic atrophy (GA), and supports our thesis that stopping the start of classical complement-driven
inflammation can result in differentiated functional benefit for patients.
Today, Annexon is on the cusp of our first pivotal data readout in GBS, an autoimmune disease that is a serious,
life-threatening neurological emergency for which there are no approved therapies in the United States. Also this
year, we   re preparing to initiate two registrational trials in GA and are advancing the first oral classical complement
inhibitor to proof-of-concept for chronic autoimmune diseases. Through these flagship programs and several
mechanistically related programs in the next wave, we are poised to bring our anti-inflammatory platform to
millions of patients and their families impacted by devastating complement-mediated diseases.
Strongly Positioned for the Transformative Year Ahead
In December 2023, we announced a successful $125 million financing and extension of our operating runway into
mid-2026, and we are well-positioned to deliver on multiple mid- and late-stage clinical catalysts, including our
GBS pivotal Phase 3 data, our first potentially best-in-class GA Phase 3 global trial, and our oral drug candidate
proof-of-concept trial in patients.
On behalf of the entire Annexon team, we are deeply grateful to the collaborative medical teams and the brave
patients and their caregivers for their dedicated involvement in our clinical studies. Our outlook for thriving by
helping millions of patients get their lives back is brighter than ever. We would also like to thank our talented
employees, Board of Directors, and Scientific Advisory Board, as well as our stakeholders, for all of their support on
this journey.


Warm regards,
Douglas Love, Esq.
President and Chief Executive Officer
Forward-Looking Statements
Certain of the statements contained in this letter are forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In
some cases, you can identify forward-looking statements by terminology such as    anticipate,       believe,       continue,   
   could,       design,       due,       expect,       goal,       intend,       may,       objective,       plan,       potential,       seek,       should,   
   target,       will,       would    and other similar expressions that are predictions of or indicate future events and future
trends, or the negative of these terms or other comparable terminology. All statements other than statements of
historical facts contained in this letter are forward-looking statements.
These forward-looking statements include, but are not limited to, statements regarding the company   s expectations
with regard to the potential benefits from treatment targeting the classical complement pathway and the company   s
portfolio; the timing and availability of data and reports from our clinical trials; the timing of commencement of
future clinical trials; paths to market; the company   s commitment and ability to develop and advance product
candidates into, and successfully complete, clinical trials; and the company   s ability to fully translate its pipeline
into important medicines. Forward-looking statements are not guarantees of future performance and are subject to
risks and uncertainties that could cause actual results and events to differ materially from those anticipated,
including, but not limited to, risks and uncertainties related to: the company   s history of net operating losses; the
company   s ability to obtain necessary capital to fund its clinical programs; the early stages of clinical development
of the company   s product candidates; the effects of COVID-19 or other public health crises on the company   s
clinical programs and business operations; the company   s ability to obtain regulatory approval of and successfully
commercialize its product candidates; any undesirable side effects or other properties of the company   s product
candidates; the company   s reliance on third-party suppliers and manufacturers; the outcomes of any future
collaboration agreements; and the company   s ability to adequately maintain intellectual property rights for its
product candidates. These and other risks are described in greater detail under the section titled    Risk Factors   
contained in the company   s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and the company   s
other filings with the U.S. Securities and Exchange Commission. Any forward-looking statements that the company
makes in this letter are made pursuant to the Private Securities Litigation Reform Act of 1995, as amended, and
speak only as of the date of this letter. Except as required by law, the company undertakes no obligation to publicly
update any forward-looking statements, whether as a result of new information, future events or otherwise.


ANNEXON, INC.
1400 Sierra Point Parkway, Bldg C, Suite 200
Brisbane, California 94005
NOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS
To be held on June 5, 2024
Dear Stockholder:
You are cordially invited to attend the 2024 Annual Meeting of Stockholders (the       Annual Meeting      ) of
Annexon, Inc., a Delaware corporation (the       Company      ), on Wednesday, June 5, 2024 at 8:00 a.m. Pacific Time.
This year   s Annual Meeting will be held virtually, conducted via live audio webcast. You can attend the meeting
via the internet at www.virtualshareholdermeeting.com/ANNX2024 by using the 16-digit control number that
appears on your proxy card (printed in the box and marked by the arrow) and the instructions that accompanied
your proxy materials.
The Annual Meeting will be held for the following purposes:
1.
To elect the two nominees for director named in the accompanying proxy statement to serve as Class I
directors to hold office until the 2027 annual meeting of stockholders or until their respective successors are
duly elected and qualified.
2.
To ratify the selection by the Audit Committee of our Board of Directors of KPMG LLP as our
independent registered public accounting firm for our fiscal year ending December 31, 2024.
3.
To approve, on a non-binding advisory basis, the compensation of our named executive officers.
4.
To conduct any other business properly brought before the meeting or any continuation, adjournment or
postponement thereof.
These items of business are more fully described in the Proxy Statement accompanying this Notice.
The record date for the Annual Meeting is April 8, 2024. Only stockholders of record at the close of business on that
date may vote at the meeting or any continuation, adjournment or postponement thereof. A complete list of such
stockholders will be open to the examination of any stockholder for a period of ten days prior to the Annual Meeting
for a purpose germane to the meeting at our principal executive offices by stating the purpose of the request and
providing proof of ownership of our common stock. The complete list of such stockholders will also be available to
stockholders during the Annual Meeting at www.virtualshareholdermeeting.com/ANNX2024.
Important Notice Regarding the Availability of Proxy Materials for the Stockholders    Meeting to Be Held on
Wednesday, June 5, 2024 at 8:00 a.m. Pacific Time, conducted via live audio webcast.
The proxy statement and annual report to stockholders
are available electronically at www.proxyvote.com.
By Order of the Board of Directors
Douglas Love
President and Chief Executive Officer
Brisbane, California
April 25, 2024
You are cordially invited to attend the Annual Meeting, conducted via live audio webcast. Whether or not
you expect to attend the meeting, please vote by proxy over the telephone or through the internet, or by
completing, dating, signing and returning a proxy that we may mail to you as instructed in these materials,
as promptly as possible in order to ensure your representation at the meeting. Even if you have voted by
proxy, you may still vote at the Annual Meeting. Please note, however, that if your shares are held through a
broker, bank or other nominee and you wish to vote at the Annual Meeting, you must obtain a proxy issued
in your name from that record holder.



 4/25/2024 Letter Continued (Full PDF)
ANNX Shareholder/Stockholder Letter Transcript:

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