SCHEDULE: Redmile Group Discloses 9.9% Stake in Annexon

Redmile Group, LLC, along with Jeremy C. Green and RedCo II Offshore SPV LLC, has reported beneficial ownership of 9.9% of Annexon, Inc.'s common stock as of July 8, 2026.

Summary

• Redmile Group, LLC, Jeremy C. Green, and RedCo II Offshore SPV LLC have jointly filed a Schedule 13G, indicating their beneficial ownership of Annexon, Inc. common stock.
• As of July 8, 2026, Redmile Group, LLC and Jeremy C. Green each beneficially own 17,918,459 shares, representing 9.9% of the class.
• RedCo II Offshore SPV LLC beneficially owns 9,802,458 shares, representing 5.5% of the class.
• The total beneficial ownership reported by Redmile Group, LLC and Jeremy C. Green includes 14,548,896 shares of common stock and 3,369,563 shares issuable upon exercise of pre-funded warrants, subject to a 9.99% beneficial ownership limitation.
• Redmile Group, LLC acts as the investment manager for the Redmile Funds, including RedCo II Offshore SPV LLC, and has discretion over voting and disposition of these shares.
• Jeremy C. Green is identified as the principal of Redmile Group, LLC.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it primarily reports ownership stakes and does not provide operational or financial performance data for Annexon, Inc.

Positives

• Significant stake held by Redmile Group, indicating potential investor confidence or strategic interest in Annexon, Inc.
• The filing clarifies ownership structures and beneficial holdings, providing transparency to the market.

Negatives

• The filing does not contain financial performance data or operational updates, limiting the assessment of the company's current health.
• The beneficial ownership is subject to a 9.99% limitation, suggesting potential adjustments to holdings if this threshold is approached or exceeded.

Risks

• The beneficial ownership is subject to a 9.99% beneficial ownership limitation, which could necessitate the sale of shares if exceeded.
• The filing does not provide details on the strategic intent behind the stake, leaving potential future actions open to speculation.

Future Outlook

The filing does not contain forward-looking statements or guidance from Annexon, Inc. It solely reports on beneficial ownership.

Management Comments

• Redmile and Mr. Green each disclaims beneficial ownership of these securities, except to the extent of its or his pecuniary interest in such securities, if any.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors accumulating significant stakes in publicly traded companies. This filing indicates Redmile Group's substantial interest in Annexon, Inc., a biotechnology company, which is typical for investment firms specializing in the sector.

Stakeholder Impact

• Shareholders: Increased transparency regarding significant ownership may influence market perception and trading activity.
• Management of Annexon, Inc.: May need to engage with Redmile Group regarding their investment strategy and potential influence.
• Competitors: Awareness of Redmile Group's substantial stake could inform competitive strategies.

Next Steps

• Potential future filings may be required if ownership levels change or if Redmile Group takes a more active role in Annexon, Inc.'s governance.
• Investors will monitor Annexon, Inc.'s performance and any further disclosures from Redmile Group.

Key Dates

Keywords

Annexon, Inc., Schedule 13G, Redmile Group, LLC, Jeremy C. Green, RedCo II Offshore SPV LLC, Beneficial Ownership, Common Stock, Securities Filing, Investment Management