Anaptys Board of Directors Approves Spin-Off of First Tracks Biotherapeutics

Core Viewpoint - AnaptysBio, Inc. has announced the spin-off of First Tracks Biotherapeutics, Inc., which will begin trading on Nasdaq under the ticker symbol "TRAX" on April 20, 2026, aiming to focus on developing next-generation antibody therapeutics for autoimmune and inflammatory diseases [1][2]. Group 1: Spin-off Details - The spin-off will allow AnaptysBio to distribute all shares of First Tracks Bio common stock to its stockholders, with a record date set for April 6, 2026, where stockholders will receive one share of First Tracks Bio for each share of AnaptysBio held [5][9]. - First Tracks Bio will launch with an initial cash balance of $180 million, which includes $100 million from Anaptys and $80 million from a private placement [6][7]. Group 2: Leadership and Management - Daniel Faga will serve as the president and CEO of First Tracks Bio, while also holding the CEO position at AnaptysBio [2][7]. - The executive leadership team will include Paul Lizzul, M.D., Ph.D. as CMO and Ben Stone as CBO, with Ajim Tamboli expected to join as CFO on April 20, 2026 [7]. Group 3: Development Pipeline - First Tracks Bio will focus on three lead development-stage assets: ANB033, a CD122 antagonist in a Phase 1b trial for celiac disease and eosinophilic esophagitis; rosnilimab, a pathogenic T cell depleter that has completed a Phase 2b trial for rheumatoid arthritis; and ANB101, a BDCA2 modulator in a Phase 1a trial [1].