24/7 Market News Snapshot 16 December, 2024 – Annexon, Inc. Common Stock (NASDAQ:ANNX)

December 16, 2024

DENVER, Colo., 16 December, 2024 (247marketnews.com) – (NASDAQ:ANNX) are discussed in this article.
Annexon, Inc. is experiencing a notable surge in trading activity, with its stock opening at $5.00 and currently trading at $5.195, reflecting a significant increase of approximately 17% from the previous session close of $4.44. This rise is accompanied by a substantial trading volume of 2.00 million shares, suggesting heightened investor interest, potentially influenced by recent favorable developments. Traders are advised to keep an eye on key resistance levels around $5.50, as technical indicators point to the possibility of further gains, although caution is warranted given the volatility associated with such rapid price movements.

In conjunction with this robust market performance, Annexon has announced encouraging topline results from a recent real-world evidence study underscoring the potential of its lead product, ANX005, as a novel treatment for Guillain-Barré Syndrome (GBS). This rare and acute neuromuscular disorder lacks any FDA-approved treatment options. ANX005 operates by blocking the C1q protein, which plays a pivotal role in the immune response that contributes to disease progression during the acute phase of GBS.

The study involved a comparison between a group of 79 real-world GBS patients and those treated with ANX005 in past Phase 3 trials. Results indicated that ANX005 significantly improved muscle strength and functional outcomes, with a marked reduction in the need for mechanical ventilation. Notably, patients exhibited over a 10-point increase in muscle strength as measured by the Medical Research Council sum score within one week of treatment.

Douglas Love, President and CEO of Annexon, expressed enthusiasm about the study’s outcomes, highlighting their role in bolstering plans for a Biologics License Application submission in the first half of 2025. The findings not only advance clinical discussions but also promise a brighter outlook for patients suffering from GBS, emphasizing Annexon’s commitment to pioneering innovative therapies in the neuroinflammatory disease landscape.

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