Core Viewpoint - AnaptysBio, Inc. has received a Zacks Rank 2 (Buy) upgrade, indicating a positive outlook on its earnings estimates, which is expected to lead to increased buying pressure and a rise in stock price [1][2]. Earnings Estimates and Revisions - The Zacks Consensus Estimate for AnaptysBio for the fiscal year ending December 2024 is projected at -$6.20 per share, reflecting a 2% decrease from the previous year's reported figure [5]. - Over the past three months, analysts have raised their earnings estimates for AnaptysBio by 2.9%, indicating a positive trend in earnings outlook [5]. Impact of Earnings Estimates on Stock Prices - Changes in a company's future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements [3]. - Institutional investors utilize earnings estimates to determine the fair value of a company's shares, which influences their buying or selling actions, subsequently affecting stock prices [3]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 (Strong Buy) stocks historically generating an average annual return of +25% since 1988 [4]. - AnaptysBio's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [6][7].

AnaptysBio, Inc. (ANAB) closed the last trading session at $24.69, gaining 10.8% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $41.88 indicates a 69.6% upside potential.The mean estimate comprises eight short-term price targets with a standard deviation of $20.07. While the lowest estimate of $20 indicates a 19% decline from the current price level, the most optimistic analyst ex ...

Company Performance - AnaptysBio, Inc. reported a quarterly loss of $1.59 per share, which was better than the Zacks Consensus Estimate of a loss of $1.74, and compared to a loss of $0.93 per share a year ago, indicating an earnings surprise of 8.62% [1] - The company generated revenues of $9.01 million for the quarter ended December 2023, exceeding the Zacks Consensus Estimate by 174.29%, and up from $6.81 million in the same quarter last year [1] - Over the last four quarters, AnaptysBio has surpassed consensus EPS estimates three times, while it has topped consensus revenue estimates only once [1] Stock Performance - AnaptysBio shares have increased approximately 15.8% since the beginning of the year, outperforming the S&P 500's gain of 7.4% [2] - The current consensus EPS estimate for the upcoming quarter is -$1.57 on revenues of $3.51 million, and for the current fiscal year, it is -$6.46 on revenues of $14.89 million [4] Industry Outlook - The Medical - Biomedical and Genetics industry, to which AnaptysBio belongs, is currently ranked in the top 32% of over 250 Zacks industries, indicating a favorable outlook [5] - Another company in the same industry, TELA Bio, Inc., is expected to report a quarterly loss of $0.44 per share, reflecting a year-over-year change of +15.4%, with revenues anticipated to be $16.65 million, up 43.3% from the previous year [5][6]

Part I [Business](index=6&type=section&id=Item%201.%20Business) AnaptysBio is a clinical-stage biotechnology company developing immune cell modulating antibodies for autoimmune and inflammatory diseases - The company's core focus is on developing immune cell modulating antibodies for autoimmune and inflammatory diseases, with two key clinical-stage assets: **rosnilimab** (PD-1 agonist) and **ANB032** (BTLA agonist)[10](index=10&type=chunk) - AnaptysBio has a financial collaboration with GSK for immuno-oncology, which provides revenue from milestones and royalties on **Jemperli** (dostarlimab-gxly) and **cobolimab**[10](index=10&type=chunk)[19](index=19&type=chunk) Wholly-Owned Product Candidate Pipeline Status | Program | Target | Indication | Stage | Key Milestone/Data Timing | | :--- | :--- | :--- | :--- | :--- | | **Rosnilimab** | PD-1 agonist | Rheumatoid Arthritis | Phase 2b | Top-line data mid-2025 | | | | Ulcerative Colitis | Phase 2 | Top-line data H1 2026 | | **ANB032** | BTLA agonist | Atopic Dermatitis | Phase 2b | Top-line data YE 2024 | | **ANB033** | CD122 antagonist | Inflammatory Diseases | Preclinical | IND submission Q2 2024 | | **ANB101** | BDCA2 modulator | Inflammatory Diseases | Preclinical | IND submission H2 2024 | | **Imsidolimab** | IL-36R antagonist | Generalized Pustular Psoriasis | Phase 3 | Available for out-licensing; BLA submission planned Q3 2024 | | **Etokimab** | IL-33 antagonist | Epithelial Driven Diseases | Phase 2/3 ready | Available for out-licensing; no further internal investment | - The company relies on third-party manufacturers for cGMP-compliant production of its clinical trial materials and does not plan to acquire its own manufacturing facilities[41](index=41&type=chunk)[42](index=42&type=chunk) [Risk Factors](index=24&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks from its early-stage pipeline, clinical trial uncertainties, financial losses, and reliance on third parties - Product candidates are in early development stages and may fail or be delayed, and **initial clinical trial results may not be indicative of later-stage trial outcomes**[74](index=74&type=chunk)[76](index=76&type=chunk) - The company has a **history of operational losses**, has no products approved for sale, and will require additional capital to finance operations[75](index=75&type=chunk)[97](index=97&type=chunk)[99](index=99&type=chunk) - **Dependence on the GSK collaboration is critical**; the company also relies on third-party manufacturers, and any production difficulties could delay or halt clinical trials[75](index=75&type=chunk)[95](index=95&type=chunk)[102](index=102&type=chunk) - The company faces **significant competition** from larger, more established pharmaceutical and biotechnology companies with greater financial and technical resources[74](index=74&type=chunk)[89](index=89&type=chunk) - Inability to obtain and protect intellectual property rights could prevent the company from competing effectively[75](index=75&type=chunk)[123](index=123&type=chunk) [Unresolved Staff Comments](index=57&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments from the SEC - None[162](index=162&type=chunk) [Cybersecurity](index=57&type=section&id=Item%201C.%20Cybersecurity) Cybersecurity risk management is overseen by the Audit Committee and focuses on threat mitigation, with no material incidents reported - The Board's Audit Committee oversees cybersecurity risk management, supported by the Head of IT[162](index=162&type=chunk)[163](index=163&type=chunk) - The cybersecurity strategy includes technical safeguards, incident response plans, third-party risk management, and employee training[162](index=162&type=chunk) - The company is not aware of any cybersecurity incidents that have materially affected or are reasonably likely to materially affect its business, operations, or financial condition[163](index=163&type=chunk) [Properties](index=58&type=section&id=Item%202.%20Properties) The company leases approximately 45,000 square feet of office and laboratory space in San Diego, California - The company leases approximately 45,000 square feet of office and lab space in San Diego, CA, under a lease agreement that commenced in April 2021 for a term of 124 months[164](index=164&type=chunk) [Legal Proceedings](index=58&type=section&id=Item%203.%20Legal%20Proceedings) The company is not involved in any specific material legal proceedings - The company states it may be involved in legal proceedings from time to time in the ordinary course of business but does not disclose any specific ongoing material litigation[165](index=165&type=chunk) [Mine Safety Disclosures](index=58&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company's operations - Not applicable[166](index=166&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=59&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's common stock trades on Nasdaq (ANAB), it does not pay dividends, and no shares were repurchased in Q4 2023 - Common stock trades on Nasdaq under the symbol **"ANAB"**[168](index=168&type=chunk) - The company has **never paid dividends** and does not intend to in the foreseeable future[169](index=169&type=chunk) - **No shares were repurchased** in the fourth quarter of 2023[170](index=170&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=60&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Revenue increased due to the GSK collaboration, while higher R&D spending drove a larger net loss, though cash remains sufficient Results of Operations Comparison (2023 vs. 2022) | (in thousands) | 2023 | 2022 | Change | | :--- | :--- | :--- | :--- | | **Collaboration Revenue** | **$17,157** | **$10,287** | **$6,870** | | Research and Development | $132,283 | $88,798 | $43,485 | | General and Administrative | $41,946 | $36,643 | $5,303 | | Acquired in-process R&D | $7,339 | $0 | $7,339 | | **Total Operating Expenses** | **$181,568** | **$125,441** | **$56,127** | | **Loss from Operations** | **($164,411)** | **($115,154)** | **($49,257)** | | **Net Loss** | **($163,619)** | **($128,724)** | **($34,895)** | External R&D Expenses by Program (2023 vs. 2022) | (in thousands) | 2023 | 2022 | Change | | :--- | :--- | :--- | :--- | | Rosnilimab | $25,010 | $7,794 | $17,216 | | ANB032 | $17,197 | $3,866 | $13,331 | | ANB033 | $11,520 | $1,706 | $9,814 | | Imsidolimab | $31,769 | $38,812 | ($7,043) | - The company believes its existing cash, cash equivalents, and investments of **$417.9 million** as of December 31, 2023, are sufficient to fund its current operating plan for at least the next twelve months[212](index=212&type=chunk) - The company monetized future royalty streams for Jemperli and Zejula, receiving upfront payments of **$250.0 million** and **$35.0 million**, respectively[211](index=211&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=71&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks from interest rates, foreign currency, and inflation are not considered material - The company's primary market risk is interest rate fluctuations affecting its **$417.9 million portfolio** of cash and investments, with a hypothetical 100 basis point change not expected to have a material impact[221](index=221&type=chunk) - Foreign currency exchange risk exists due to business with international CROs but is **not considered material** and is not hedged[222](index=222&type=chunk) - Inflation has **not had a material effect** on the company's business, financial condition, or results of operations[223](index=223&type=chunk) [Consolidated Financial Statements and Supplementary Data](index=74&type=section&id=Item%208.%20Consolidated%20Financial%20Statements%20and%20Supplementary%20Data) This section presents the audited financial statements, showing total assets of $452.4 million and a net loss of $163.6 million for 2023 Consolidated Balance Sheet Data (as of Dec 31, 2023) | (in thousands) | Amount | | :--- | :--- | | **Assets** | | | Cash, cash equivalents, and investments | $417,930 | | Total current assets | $406,835 | | **Total assets** | **$452,389** | | **Liabilities & Stockholders' Equity** | | | Total current liabilities | $37,442 | | Liability related to sale of future royalties | $310,807 | | **Total liabilities** | **$364,286** | | **Total stockholders' equity** | **$88,103** | Consolidated Statement of Operations Data (Year ended Dec 31, 2023) | (in thousands) | Amount | | :--- | :--- | | Collaboration revenue | $17,157 | | Total operating expenses | $181,568 | | Loss from operations | ($164,411) | | **Net loss** | **($163,619)** | | **Net loss per share** | **($6.08)** | - In January 2023, the company completed a **$50.0 million stock repurchase program**, buying back 2,124,214 shares at an average price of $24.48 per share[301](index=301&type=chunk)[302](index=302&type=chunk) - As of December 31, 2023, the company had federal and state Net Operating Loss (NOL) carryforwards of **$313.8 million** and **$73.3 million**, respectively[326](index=326&type=chunk) [Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](index=100&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20With%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants - None[331](index=331&type=chunk) [Controls and Procedures](index=100&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that both disclosure controls and internal controls over financial reporting were effective as of year-end 2023 - Management concluded that disclosure controls and procedures were **effective** as of December 31, 2023[332](index=332&type=chunk) - Management concluded that internal control over financial reporting was **effective** as of December 31, 2023, based on the COSO framework[333](index=333&type=chunk) - No attestation report on internal control is included as the company qualifies as a **smaller reporting company**[333](index=333&type=chunk) [Other Information](index=100&type=section&id=Item%209B.%20Other%20Information) No directors or officers adopted or terminated Rule 10b5-1 trading plans during the fourth quarter of 2023 - No directors or officers adopted or terminated Rule 10b5-1 trading plans during the fourth quarter of 2023[336](index=336&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=101&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Required information is incorporated by reference from the company's 2024 Definitive Proxy Statement - Information is incorporated by reference from the forthcoming 2024 Definitive Proxy Statement[339](index=339&type=chunk) [Executive Compensation](index=101&type=section&id=Item%2011.%20Executive%20Compensation) Required information is incorporated by reference from the company's 2024 Definitive Proxy Statement - Information is incorporated by reference from the forthcoming 2024 Definitive Proxy Statement[340](index=340&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=101&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Required information is incorporated by reference from the company's 2024 Definitive Proxy Statement - Information is incorporated by reference from the forthcoming 2024 Definitive Proxy Statement[341](index=341&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=101&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Required information is incorporated by reference from the company's 2024 Definitive Proxy Statement - Information is incorporated by reference from the forthcoming 2024 Definitive Proxy Statement[342](index=342&type=chunk) [Principal Accounting Fees and Services](index=101&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) Required information is incorporated by reference from the company's 2024 Definitive Proxy Statement - Information is incorporated by reference from the forthcoming 2024 Definitive Proxy Statement. The independent auditor is KPMG LLP[343](index=343&type=chunk) Part IV [Exhibits, Consolidated Financial Statement Schedules](index=102&type=section&id=Item%2015.%20Exhibits%2C%20Consolidated%20Financial%20Statement%20Schedules) This section lists all documents filed as part of the report, including financial statements and material contracts - This section contains the index of all exhibits filed with the Form 10-K[345](index=345&type=chunk)[346](index=346&type=chunk) [Form 10-K Summary](index=105&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company indicates that no Form 10-K summary is provided - None[352](index=352&type=chunk)

SAN DIEGO, Feb. 29, 2024 (GLOBE NEWSWIRE) -- AnaptysBio, Inc. (Nasdaq: ANAB), a clinical-stage biotechnology company focused on delivering innovative immunology therapeutics, today announced that Daniel Faga, president and chief executive officer, will participate in a panel discussion at TD Cowen’s 44th Annual Health Care Conference. Additionally, the company announced an upcoming presentation at the 2024 American Academy of Dermatology (AAD) Annual Meeting in San Diego, CA, March 8-12, 2024. The oral pres ...

Core Insights - AnaptysBio, Inc. is participating in TD Cowen's 44th Annual Health Care Conference and will present at the 2024 American Academy of Dermatology Annual Meeting, focusing on its preclinical data for ANB032, a BTLA agonist targeting atopic dermatitis [1][2][3] Group 1: Conference Participation - The company will engage in a corporate panel discussion titled "Inflammation & Immunology Corporate Panel Discussion" on March 5, 2024, at 2:10 PM ET [2] - A live webcast of the panel discussion will be available on the investor section of the AnaptysBio website, with a replay accessible for at least 30 days post-event [2] Group 2: Upcoming Presentations - AnaptysBio will present oral and poster presentations on ANB032, highlighting its role in modulating dendritic cell maturation and function as a novel mechanism for addressing atopic dermatitis [3] - The presentation is scheduled for March 8, 2024, from 9:30 AM PT to 9:35 AM PT, under the category of Dermatitis, Atopic [3] Group 3: Company Overview - AnaptysBio is a clinical-stage biotechnology company focused on innovative immunology therapeutics, developing immune cell modulators including PD-1 and BTLA agonists for autoimmune and inflammatory diseases [4] - The company is advancing multiple candidates, including rosnilimab in Phase 2b trials for rheumatoid arthritis and ulcerative colitis, and ANB032 in Phase 2b trials for atopic dermatitis [4] - AnaptysBio has also developed cytokine antagonists for out-licensing and has collaborations with GSK for immuno-oncology therapeutic antibodies [4]

Core Viewpoint - AnaptysBio, Inc. is anticipated to report a year-over-year decline in earnings due to lower revenues, with the consensus estimate indicating a quarterly loss of $1.69 per share, reflecting an 81.7% decrease compared to the previous year [1][2]. Financial Performance Expectations - Revenues for the upcoming quarter are expected to be $3.28 million, which is a 51.8% decline from the same quarter last year [2]. - The consensus EPS estimate has been revised 0.09% lower in the last 30 days, indicating a reassessment by analysts [2]. Earnings Surprise Prediction - The Zacks Earnings ESP model shows that the Most Accurate Estimate for AnaptysBio is higher than the Zacks Consensus Estimate, resulting in a positive Earnings ESP of +2.76%, suggesting a bullish outlook from analysts [3][4]. - A positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [4]. Historical Performance - In the last reported quarter, AnaptysBio was expected to post a loss of $1.72 per share but actually reported a loss of $1.41, resulting in a positive surprise of +18.02% [7]. - Over the past four quarters, the company has beaten consensus EPS estimates two times [7]. Investment Considerations - While an earnings beat may not solely dictate stock movement, betting on stocks expected to exceed earnings expectations can enhance the likelihood of success [8]. - AnaptysBio appears to be a compelling candidate for an earnings beat, but investors should consider other factors before making investment decisions [8].

AnaptysBio, Inc. (ANAB) shares ended the last trading session 5.9% higher at $24.10. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.9% loss over the past four weeks.The stock rallied as optimism about the drug/biotech sector’s growth in 2024 rose.This company is expected to post quarterly loss of $1.72 per share in its upcoming report, which represents a year-over-year change of -85%. Revenues are expected to be ...

SAN DIEGO, Jan. 31, 2024 (GLOBE NEWSWIRE) -- AnaptysBio, Inc. (NASDAQ:ANAB), a clinical-stage biotechnology company focused on delivering innovative immunology therapeutics, today announced that Daniel Faga, president and chief executive officer, will present at Guggenheim's 6th Annual Biotechnology Conference. Investor Conference Details Event - Guggenheim's 6th Annual Biotechnology ConferenceFormat – Fireside chatDate and Time – Wednesday, Feb. 7, 2024 at 9:30am ET / 6:30am PT A live webcast of the firesi ...

Company Overview - AnaptysBio, Inc. is a clinical-stage biotechnology company focused on innovative immunology therapeutics [3] - The company is developing immune cell modulators, including two checkpoint agonists for autoimmune and inflammatory diseases: rosnilimab and ANB032 [3] - AnaptysBio has a preclinical immune cell modulator portfolio and has developed two cytokine antagonists available for out-licensing [3] Upcoming Event - Daniel Faga, president and CEO of AnaptysBio, will present at Guggenheim's 6th Annual Biotechnology Conference [1] - The event will take place on February 7, 2024, at 9:30 AM ET / 6:30 AM PT in a fireside chat format [2] - A live webcast of the presentation will be available on the investor section of AnaptysBio's website, with a replay accessible for at least 30 days [2]