Benzinga | Mar 1, 2021 01:11PM EST

Annexon Shares Gain After Patient Dosing Starts In Mid-Stage Study For Vision Loss Disorder Therapy

Annexon Inc (NASDAQ: ANNX) has commenced patient dosing in its Phase 2 ARCHER study evaluating ANX007 to treat Geographic Atrophy (GA).

* GA, also known as atrophic age-related macular degeneration (AMD) or dry AMD, can lead to blindness caused by damaged and dying retinal cells.

* The Phase 2 trial is designed to evaluate the efficacy and safety of ANX007. Monthly dosing schedules will be evaluated.

* ANX007 is a monoclonal antibody formulated for intravitreal administration.

* The drug candidate is designed to bind to C1q and inhibit activation of all downstream components of the classical complement cascade, including C3 and C5, but not to interfere with the normal function of C3 and C5.

* Price Action: ANNX shares gained 10.6% at $32.19 in market trading hours on the last check Monday.