Anaptys Announces Third Quarter 2025 Financial Results and Provides Business Update

Core Insights - AnaptysBio, Inc. reported strong financial results for Q3 2025, with a net income of $15.1 million for the quarter, marking a significant improvement compared to a net loss of $32.9 million in Q3 2024 [14][23]. - The company announced its intent to separate its biopharma operations from its royalty assets by the end of 2026, aiming to unlock potential value for investors [5][16]. Financial Performance - Collaboration revenue for Q3 2025 was $76.3 million, up from $30.0 million in Q3 2024, driven primarily by Jemperli sales exceeding $750 million [17][23]. - Research and development expenses decreased to $31.4 million in Q3 2025 from $42.2 million in Q3 2024, while general and administrative expenses remained relatively stable [17][23]. - Cash and investments totaled $256.7 million as of September 30, 2025, down from $420.8 million at the end of 2024, primarily due to operating activities and share repurchases [17][20]. Business Updates - Jemperli sales grew to $785 million year-to-date in 2025, with a quarter-over-quarter growth of over 16% [5][6]. - Anaptys anticipates a one-time $75 million commercial sales milestone in Q4 2025 from GSK once Jemperli achieves $1 billion in worldwide net sales [5][6]. - The company is on track to report top-line Phase 2 data for rosnilimab in ulcerative colitis in November or December 2025 [5][13]. Strategic Initiatives - The planned separation will create two independent publicly traded companies, allowing investors to align their portfolios with distinct business objectives [6][16]. - The biopharma operations will focus on innovative immunology therapeutics, including rosnilimab, ANB033, and ANB101, while the royalty management company will handle royalties and milestone payments [6][16]. Clinical Development - Rosnilimab's Phase 2b data in rheumatoid arthritis was presented at ACR Convergence 2025, showing promising response rates [13]. - A Phase 1b trial for ANB033 in celiac disease has been initiated, with top-line data expected in Q4 2026 [5][13].