AnaptysBio, Inc. (ANAB) came out with a quarterly loss of $1.64 per share versus the Zacks Consensus Estimate of a loss of $1.54. This compares to loss of $1.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -6.49%. A quarter ago, it was expected that this company would post a loss of $1.74 per share when it actually produced a loss of $1.59, delivering a surprise of 8.62%.Over the last four quarters, the company has surpasse ...

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section presents the unaudited consolidated financial statements, management's discussion, market risk, and internal controls [Item 1. Consolidated Financial Statements (unaudited)](index=4&type=section&id=Item%201.%20Consolidated%20Financial%20Statements%20(unaudited)) The company reported a net loss with decreased total assets, a significant royalty liability, and a subsequent royalty monetization amendment [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) This section presents the company's financial position, highlighting changes in assets, liabilities, and equity Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $53,695 | $35,965 | | Short-term investments | $300,970 | $354,939 | | **Total Assets** | **$405,835** | **$452,389** | | Total current liabilities | $32,298 | $37,442 | | Liability related to sale of future royalties | $310,184 | $310,807 | | **Total Liabilities** | **$358,057** | **$364,286** | | **Total Stockholders' Equity** | **$47,778** | **$88,103** | [Consolidated Statements of Operations and Comprehensive Loss](index=5&type=section&id=Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) This section details the company's financial performance, including revenue, expenses, and net loss Consolidated Statements of Operations (Unaudited, in thousands, except per share data) | Metric | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | Collaboration revenue | $7,179 | $1,374 | | Research and development | $37,042 | $34,957 | | General and administrative | $12,338 | $10,818 | | Loss from operations | ($42,201) | ($44,401) | | Net loss | ($43,936) | ($44,255) | | Net loss per common share | ($1.64) | ($1.58) | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) This section outlines the company's cash inflows and outflows from operating, investing, and financing activities Consolidated Statements of Cash Flows (Unaudited, in thousands) | Activity | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | ($37,253) | ($24,568) | | Net cash provided by investing activities | $68,616 | $85,396 | | Net cash used in financing activities | ($13,633) | ($37,574) | | **Net increase in cash and cash equivalents** | **$17,730** | **$23,254** | [Notes to the Unaudited Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20the%20Unaudited%20Consolidated%20Financial%20Statements) This section provides detailed explanations and additional information supporting the consolidated financial statements - The company is a clinical-stage biotechnology firm developing immune cell modulating antibodies, with revenue from GSK collaboration milestones and royalties[16](index=16&type=chunk) - Collaboration revenue from GSK's Jemperli and Zejula sales significantly increased to **$7.2 million** in Q1 2024, though this revenue is non-cash due to royalty monetization agreements[30](index=30&type=chunk) - A subsequent amendment to the Jemperli Royalty Monetization Agreement provided an additional **$50.0 million** upfront cash in May 2024[70](index=70&type=chunk) - As of March 31, 2024, the company held liabilities of **$278.2 million** for Jemperli and **$32.0 million** for Zejula royalty sales[37](index=37&type=chunk)[39](index=39&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section discusses the company's pipeline progress, financial performance drivers, and liquidity position Wholly Owned Product Candidate Pipeline Status | Program | Indication | Status | Anticipated Milestone | | :--- | :--- | :--- | :--- | | ANB032 (BTLA agonist) | Atopic Dermatitis | Phase 2b | Top-line data YE 2024 | | Rosnilimab (PD-1 agonist) | Rheumatoid Arthritis | Phase 2b | Top-line data mid-2025 | | Rosnilimab (PD-1 agonist) | Ulcerative Colitis | Phase 2 | Top-line data H1 2026 | | ANB033 (CD122 antagonist) | Inflammatory Diseases | Preclinical | IND submission Q2 2024 | | ANB101 (BDCA2 modulator) | Inflammatory Diseases | Preclinical | IND submission H2 2024 | | Imsidolimab (IL-36R antagonist) | GPP | Phase 3 Completed | Out-license in 2024 | R&D Expense Breakdown (in thousands) | Program | Q1 2024 | Q1 2023 | Change | | :--- | :--- | :--- | :--- | | Rosnilimab | $10,038 | $2,605 | $7,433 | | ANB032 | $4,866 | $2,536 | $2,330 | | Imsidolimab | $4,496 | $15,463 | ($10,967) | | **Total R&D Costs** | **$37,042** | **$34,957** | **$2,085** | - Collaboration revenue increased to **$7.2 million** in Q1 2024 due to higher GSK product sales, which is non-cash and reduces royalty monetization liabilities[98](index=98&type=chunk) - The company's cash, cash equivalents, and investments totaled **$370.1 million** at Q1 2024, projected to fund operations for at least the next twelve months[105](index=105&type=chunk)[107](index=107&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=38&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no material changes to its market risk profile since its most recent annual report - No material changes occurred in the company's market risk profile as of March 31, 2024, compared to its latest Form 10-K disclosures[115](index=115&type=chunk) [Item 4. Controls and Procedures](index=38&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls were effective, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO affirmed the effectiveness of the company's disclosure controls and procedures[116](index=116&type=chunk) - No material changes in internal control over financial reporting occurred during the quarter[117](index=117&type=chunk) [PART II. OTHER INFORMATION](index=39&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, equity sales, other information, and exhibits [Item 1. Legal Proceedings](index=39&type=section&id=Item%201.%20Legal%20Proceedings) The company may face ordinary course legal proceedings but reports no specific material litigation - The company may engage in ordinary course legal proceedings, but no specific material proceedings are currently reported[119](index=119&type=chunk) [Item 1A. Risk Factors](index=39&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks related to product development, financial sustainability, operational dependencies, and market competition - Key risks include potential failure or delays in developing early-stage product candidates, as initial clinical trial results may not be indicative of later trials[121](index=121&type=chunk)[123](index=123&type=chunk) - The company has a history of operational losses, lacks approved products, and requires additional capital that may not be available on favorable terms[122](index=122&type=chunk)[144](index=144&type=chunk)[147](index=147&type=chunk) - The business relies heavily on its GSK collaboration and third-party manufacturers, posing risks to partnerships, supply chain, and production[122](index=122&type=chunk)[150](index=150&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities](index=75&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities,%20Use%20of%20Proceeds%20and%20Issuer%20Purchases%20of%20Equity%20Securities) This section is reported as not applicable for the current period - This section is not applicable for the reporting period[214](index=214&type=chunk) [Item 5. Other Information](index=77&type=section&id=Item%205.%20Other%20Information) Two directors established Rule 10b5-1 trading plans for common stock sales in March 2024 - In March 2024, directors Hollings C. Renton and Dennis M. Fenton established Rule 10b5-1 trading plans for the sale of **56,121** and **4,965** shares, respectively[217](index=217&type=chunk) [Item 6. Exhibits](index=77&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including a license agreement amendment and officer certifications - The report includes an amendment to the license agreement with Centessa Pharmaceuticals (UK) Limited as an exhibit[219](index=219&type=chunk)

Anaptys Announces First Quarter 2024 Financial Results and Provides Business Update • Enrollment ongoing for global Phase 2b trial to treat atopic dermatitis (AD) with ANB032, our BTLA agonist; reiterating top-line data anticipated by year-end 2024 • Enrollment ongoing for global Phase 2b trial to treat rheumatoid arthritis (RA) and global Phase 2 trial to treat ulcerative colitis (UC) with rosnilimab, our PD-1 agonist; reiterating top-line data anticipated by mid 2025 and H1 2026, respectively • IND submis ...

Enrollment ongoing for global Phase 2b trial to treat atopic dermatitis (AD) with ANB032, our BTLA agonist; reiterating top-line data anticipated by year-end 2024Enrollment ongoing for global Phase 2b trial to treat rheumatoid arthritis (RA) and global Phase 2 trial to treat ulcerative colitis (UC) with rosnilimab, our PD-1 agonist; reiterating top-line data anticipated by mid 2025 and H1 2026, respectivelyIND submissions for ANB033 (anti-CD122 antagonist) and ANB101 (BDCA2 modulator) anticipated Q2 2024 an ...

All eight patients from GEMINI-1 who responded to a single intravenous (IV) imsidolimab dose and were subsequently re-randomized to monthly subcutaneous (SC) maintenance dosing of imsidolimab in GEMINI-2 through at least 24 weeks maintained clear to almost clear skin and none experienced a flareOf the remaining eight responding patients from GEMINI-1 re-randomized to placebo in GEMINI-2, 25% maintained clear to almost clear skin and 63% of these patients experienced a flareSafety and tolerability in GEMINI- ...

AnaptysBio, Inc. (ANAB) shares soared 14.3% in the last trading session to close at $24.34. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.1% loss over the past four weeks.The company is currently developing a robust portfolio of immune cell modulators, including two checkpoint agonists and a BTLA agonist, which are currently being evaluated in various mid-stage studies for the treatment of several autoimmune and inflammatory ...

Core Insights - Actym Therapeutics has appointed Thomas Smart as the new CEO, bringing 25 years of experience in the biopharmaceutical industry to lead the company through its next growth phase as it prepares for clinical evaluation of its lead candidate, ACTM-838 [1][3] Company Overview - Actym Therapeutics has developed a proprietary platform called S. Typhimurium-Attenuated Cancer Therapy (STACT), which aims to achieve comprehensive immunological reprogramming of the tumor microenvironment [2] - The lead candidate, ACTM-838, is designed to selectively accumulate in the tumor microenvironment and deliver two engineered payloads: IL-15 and STING [2][4] - The company’s approach utilizes a genetically modified bacterial vehicle for targeted anti-tumor effects, aiming to activate both innate and adaptive immune responses against tumors [4] Leadership and Strategy - Thomas Smart's extensive background includes leadership roles in various biotech companies, with a focus on translating innovative research into therapeutics [3] - Under Smart's leadership, Actym aims to move ACTM-838 into clinical trials in the second quarter of 2024 and expand its pipeline with additional candidates from the STACT platform [3] - The STACT approach is noted for its efficacy and safety advantages, leveraging a systemically administered bacterial vehicle for tissue-specific delivery of large nucleic acid payloads [3]

The stock market may have pulled back a bit from the all-time high reached late last month but the S&P 500 remains 7.4% higher in 2024. Technology stocks continue to be top performers with Super Micro Computer (NASDAQ:SMCI) leading the way with a 216% gain so far.However, analysts at the wealth management arm of Goldman Sachs think the tech sector may have run its course. They say it is time to start looking elsewhere. Investors would be better off taking the profits they’ve made in tech and deploying them ...

A powerfully bullish new analyst take on the company helped it rally on the market.Many stocks were wobbly over the past few trading days, but we can't say that about biotech AnaptysBio (ANAB -8.17%). The company's shares closed the week almost 8% higher in price, according to data compiled by S&P Global Market Intelligence, largely on the strength of a research note published by a high-profile and influential bank.Doing well by Wells FargoThat occurred on Thursday before market open, when Wells Fargo initi ...

Industry Overview - The Medical-Biomedical and Genetics industry is currently ranked 73 out of more than 250 industries according to Zacks Industry Rank, indicating a strong position relative to other segments [1][2] Company Performance - AnaptysBio has experienced positive earnings estimate revisions, with current quarter estimates improving from a loss of $1.57 per share to a loss of $1.56 per share, and current year estimates narrowing from a loss of $6.46 per share to a loss of $6.25 per share [2] - The company holds a Zacks Rank of 3 (Hold), which is considered a favorable signal for investors [2]