Clinical EfficacyANX005 showed initial signs of functional benefit in phase 2, which if validated in phase 3 could be a key point of differentiation and drive significant market share.
Financial HealthThe 1Q25 cash balance of $263M is considered sufficient to fund operations into 2H26, indicating strong financial health.
Regulatory ProgressThe meeting with the FDA is seen as a regulatory catalyst and a clearing event for tanruprubart, which is underappreciated by investors.