Annexon tells Wells Fargo doctor tweet not factural

Wells Fargo analyst Derek Archila spoke to Annexon (ANNX) as the shares traded down earlier today post the circulation of a tweet from a month ago by a physician. A doctor claimed the FDA requested a confirmatory study of tanruprubart in the U.S. as it did not accept the comparison to the International GBS Outcomes Study database as evidence of efficacy in western Guillain-Barre syndrome, the analyst tells investors in a research note. Wells spoke to management, who said the post is not factual. Annexon’s CEO noted this post was one week before the company’s FDA meeting, Wells points out. The company told the firm that the FDA has not requested another confirmatory trial. After selling off earlier in the day, shares of Annexon are up 2% to $2.82 in afternoon trading. Wells keeps an Overweight rating on the shares with a $14 price target It recommends buying the shares on weakness.