The mixed results from the Phase 2 trial of ANX007 may cause short-term negative sentiment among investors, as the drug did not show statistical significance compared to pooled sham at 12 months. However, the reduction in the risk of 15-letter loss and the drug's well-tolerated nature may provide some optimism for the late-stage study. The stock price has already dropped 23.60% in premarket trading, indicating a negative short-term impact.