0000950170-22-015560 | 10-Q | XBRL Viewer

The Company has implemented all new accounting pronouncements that are in effect and that may impact its condensed consolidated financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Increase Decrease In Operating Lease Liabilities

annx_IncreaseDecreaseInOperatingLeaseLiabilities

$ (454,000)

Increase Decrease In Operating Lease Liabilities

annx_IncreaseDecreaseInOperatingLeaseLiabilities

(19,000)

Additional Proceeds From Issuance of Private Placement upon Exercisable

annx_AdditionalProceedsFromIssuanceOfPrivatePlacementUponExercisable

48,900,000

Accrued Construction Costs Current

annx_AccruedConstructionCostsCurrent

51,000

Accrued Construction Costs Current

annx_AccruedConstructionCostsCurrent

1,917,000

Construction in Progress Obtained in Exchange for Tenant Improvement Allowance from Lessors

annx_ConstructionInProgressObtainedInExchangeForTenantImprovementAllowanceFromLessors

3,830,000

Maximum Expected Research Funding

annx_MaximumExpectedResearchFunding

$ 700,000

Schedule Of Cash And Cash Equivalents And Restricted Cash Table [Text Block]

annx_ScheduleOfCashAndCashEquivalentsAndRestrictedCashTableTextBlock

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same amounts shown in the condensed consolidated statements of cash flows:


	June 30, 2022		December 31, 2021
Cash	$	651	$	734
Cash equivalents		103,963		74,109
Cash and cash equivalents		104,614		74,843
Restricted cash		1,032		1,166
Cash, cash equivalents and restricted cash	$	105,646	$	76,009

Aggregate Sublease Payment Receivable

annx_AggregateSubleasePaymentReceivable

$ 3,400,000

Maximum Threshold Period Allowed For Filing Market Authorisation

annx_MaximumThresholdPeriodAllowedForFilingMarketAuthorisation

15 years

Lessee Operating Lease Expiration Month And Year

annx_LesseeOperatingLeaseExpirationMonthAndYear

2031-10

Operating Lease Weighted Average Incremental Borrowing Rate Percent

annx_OperatingLeaseWeightedAverageIncrementalBorrowingRatePercent

8.40%

Schedule Of Common Stock Reserved For Future Issuance Table Table [Text Block]

annx_ScheduleOfCommonStockReservedForFutureIssuanceTableTableTextBlock

The Company has reserved the following shares of common stock for issuance as follows:


	June 30, 2022		December 31, 2021
Stock options issued and outstanding		7,046,676		5,662,824
Stock options reserved for 2020 Incentive Award Plan		1,960,167		2,039,951
Unvested restricted stock units outstanding		285,655		50,000
Common stock reserved for 2021 ATM program		5,265,929		5,265,929
Common stock reserved for Employee Stock Purchase Plan		1,075,042		729,775
Total common stock reserved		15,633,469		13,748,479

Cash Paid For Amounts Included In The Measurement Of Lease Liability

annx_CashPaidForAmountsIncludedInTheMeasurementOfLeaseLiability

$ 1,892,000

Cash Paid For Amounts Included In The Measurement Of Lease Liability

annx_CashPaidForAmountsIncludedInTheMeasurementOfLeaseLiability

$ 744,000

Share Based Compensation Arrangement By Share Based Payment Award Minimum Employee Subscription Rate

annx_ShareBasedCompensationArrangementByShareBasedPaymentAwardMinimumEmployeeSubscriptionRate

1.00%

Lessee Operating Lease Liability Payments Due Year Four And Thereafter

annx_LesseeOperatingLeaseLiabilityPaymentsDueYearFourAndThereafter

$ 32,833,000

Short Term Investments Policy [Text Block]

annx_ShortTermInvestmentsPolicyTextBlock

Short-Term Investments

Short-term investments have been classified as available-for-sale and are carried at estimated fair value as determined based upon quoted market prices or pricing models for similar securities. The Company determines the appropriate classification of its investments in debt securities at the time of purchase. Available-for-sale securities are classified as current based on their availability for use in current operations. Unrealized gains and losses are excluded from earnings and are reported as a component of other comprehensive loss. The Company periodically evaluates whether declines in fair values of its marketable securities below their book value are other-than-temporary. This evaluation consists of several qualitative and quantitative factors regarding the severity and duration of the unrealized loss as well as the Company’s ability and intent to hold the marketable security until a forecasted recovery occurs. Additionally, the Company assesses whether it has plans to sell the security or it is more likely than not it will be required to sell any marketable securities before recovery of its amortized cost basis. Impairment assessments are made at the individual security level each reporting period. When the fair value of an available-for-sale security is less than its cost at the balance sheet date, a determination is made as to whether the impairment is other-than-temporary and, if it is other-than-temporary, an impairment loss is recognized in other income, net, equal to the difference between the investment’s amortized cost and fair value at such date. The cost of investments sold is based on the specific-identification method. Interest on marketable securities is included in other income, net.

Maximum Number of Shares to be Issued in Accordance with Plan as a Proportion of Outstanding Capital Stock

annx_MaximumNumberOfSharesToBeIssuedInAccordanceWithPlanAsAProportionOfOutstandingCapitalStock

360,086

Percentage Of Shares Of Common Stock Outstanding On Last Day Of Immediately Preceding Fiscal Year

annx_PercentageOfSharesOfCommonStockOutstandingOnLastDayOfImmediatelyPrecedingFiscalYear

1.00%

Balance Sheet Components

6 Months Ended

Jun. 30, 2022

Disclosure Of Balance Sheet Components [Abstract]

Balance Sheet Components

4. Balance Sheet Components

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	June 30, 2022		December 31, 2021
Prepaid research and development costs	$	2,931	$	3,002
Prepaid insurance		310		1,282
Other prepaid expenses		500		231
Other current assets		37		463
Total prepaid expenses and other current assets	$	3,778	$	4,978

Property and Equipment, Net

Property and equipment, net, consisted of the following (in thousands):


	June 30, 2022			December 31, 2021
Leasehold improvements	$	17,155		$	16,594
Laboratory equipment		1,384			1,353
Furniture and fixtures		680			649
Computer equipment and software		33			41
Total property and equipment, gross		19,252			18,637
Less: accumulated depreciation		(1,834	)		(789	)
Total property and equipment, net	$	17,418		$	17,848

The Company recognized depreciation for property and equipment of $0.5 million and $0.5 million for the three months ended June 30, 2022 and 2021, respectively, and $1.1 million and $1.1 million for the six months ended June 30, 2022 and 2021, respectively.

Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):


	June 30, 2022		December 31, 2021
Accrued research and development expenses	$	4,163	$	2,404
Accrued compensation		2,350		3,573
Accrued professional services		1,376		1,274
Accrued construction costs		51		1,917
Other accrued expenses		120		82
Total accrued liabilities	$	8,060	$	9,250

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