Annexon Inc

Annexon expanded its pivotal ARCHER II trial of vonaprument in geographic atrophy by adding an independent 24-month dual primary endpoint while maintaining its planned fourth-quarter assessment of the existing 15-month endpoint. The company remains on track to submit a U.S. Biologics License Application for tanruprubart in Guillain-Barré syndrome in the fourth quarter. In an initial 10-patient FORWARD cohort, all patients experienced clinically meaningful muscle-strength improvement within four days, though the results are preliminary. Annexon also secured access to up to $200 million in non-dilutive financing through an Oxford Finance credit facility, extending its cash runway into 2028 as both lead programs approach regulatory and clinical milestones. The full ARCHER II study, including 24-month analyses, is expected to conclude in the third quarter of 2027.

Apollomics shares surged over 22% on Wednesday after the company regained compliance with Nasdaq's Market Value of Listed Securities requirement. The clinical-stage firm, whose lead program is the c-Met inhibitor Vebreltinib for non-small cell lung cancer, was notified on July 8 that the matter had been closed. Other notable movers included Iovance Biotherapeutics, up more than 20% ahead of its second-quarter report, where Amtagvi revenue is expected between $79 million and $81 million, about 23% higher than in the fourth quarter of 2025. AVITA Medical rose over 17% before its own second-quarter update, while Annexon gained more than 17% in anticipation of a presentation at the American Society of Retina Specialists meeting and upcoming pivotal data from its Phase 3 ARCHER II trial in geographic atrophy. Veradermics climbed over 12% after reporting positive Phase 2 results for its oral minoxidil formulation VDPHL01 in female pattern hair loss, with 88.9% of once-daily patients reporting improved or much improved outcomes by month six.