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Share Name | Share Symbol | Market | Type |
---|---|---|---|
AnaptysBio Inc | NASDAQ:ANAB | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.17 | -0.46% | 37.06 | 20.00 | 38.00 | 38.85 | 36.89 | 37.71 | 288,205 | 23:41:03 |
“We look forward to three Phase 2 clinical trial readouts from our wholly-owned etokimab and ANB019 programs and the expansion of our pipeline with ANB030 and ANB032 during 2020,” said Hamza Suria, president and chief executive officer of AnaptysBio. “AnaptysBio is a capital-efficient antibody discovery and development engine that has been validated by the advancement of 7 internally-generated therapeutics to the clinic over the last 4 years, and we look forward to anticipated FDA approval of dostarlimab under our GSK partnership.”
Etokimab (ANB020 Anti-IL-33) Program
ANB019 (Anti-IL-36 Receptor) Program
ANB030 (Anti-PD-1 Agonist) Program
ANB032 (Anti-BTLA Modulator) Program
Dostarlimab (Anti-PD-1 Antagonist) Program Partnered with GSK
Board of Directors
Fourth Quarter and Full Year Financial Results
Financial Guidance
AnaptysBio expects its net cash burn in 2020 will be approximately $60.0 million, and that its cash, cash equivalents and investments will fund its current operating plan at least into 2023.
About AnaptysBio
AnaptysBio is a clinical-stage biotechnology company developing first-in-class antibody product candidates focused on unmet medical needs in inflammation. The Company’s proprietary anti-inflammatory pipeline includes its anti-IL-33 antibody etokimab, previously referred to as ANB020, for the treatment of chronic rhinosinusitis with nasal polyps, or CRSwNP, and eosinophilic asthma; its anti-IL-36R antibody ANB019 for the treatment of rare inflammatory diseases, including generalized pustular psoriasis, or GPP, and palmoplantar pustulosis, or PPP; its anti-PD-1 agonist program, ANB030, for treatment of certain autoimmune diseases where immune checkpoint receptors are insufficiently activated, and its BTLA modulator program, ANB032, which is broadly applicable to human inflammatory diseases associated with lymphoid and myeloid immune cell dysregulation. AnaptysBio’s antibody pipeline has been developed using its proprietary somatic hypermutation, or SHM platform, which uses in vitro SHM for antibody discovery and is designed to replicate key features of the human immune system to overcome the limitations of competing antibody discovery technologies. AnaptysBio has also developed multiple therapeutic antibodies in an immuno-oncology partnership with TESARO, a GSK company, including an anti-PD-1 antagonist antibody (dostarlimab (TSR-042)), an anti-TIM-3 antagonist antibody (TSR-022) and an anti-LAG-3 antagonist antibody (TSR-033), and an inflammation partnership with Celgene, including an anti-PD-1 checkpoint agonist antibody (CC-90006) currently in clinical development.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to: the timing of the release of data from our clinical trials, including etokimab’s Phase 2 clinical trial in adult patients with CRSwNP and ANB019’s Phase 2 clinical trials in GPP and PPP, the timing of and our ability to launch a Phase 2b clinical trial of etokimab in eosinophilic asthma patients, the timing of a regulatory strategy update for GPP, the timing of initiation of a Phase 1 clinical trial for ANB030, the timing of an IND filing for ANB032, the milestones and royalty payments to be received under the GSK partnership, and our projected 2020 cash burn and cash runway. Statements including words such as “plan,” “continue,” “expect,” or “ongoing” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may cause the company’s actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to the company’s ability to advance its product candidates, obtain regulatory approval of and ultimately commercialize its product candidates, the timing and results of preclinical and clinical trials, the company’s ability to fund development activities and achieve development goals, the company’s ability to protect intellectual property and other risks and uncertainties described under the heading “Risk Factors” in documents the company files from time to time with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and the company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.
Contact:Eric LoumeauAnaptysBio, Inc.858.732.0179eloumeau@anaptysbio.com
ANAPTYSBIO, INC. | |||||||
CONSOLIDATED BALANCE SHEETS | |||||||
(in thousands, except par value) | |||||||
December 31, 2019 | December 31, 2018 | ||||||
ASSETS | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 171,017 | $ | 113,596 | |||
Australian tax incentive receivable | — | 174 | |||||
Short-term investments | 203,210 | 313,486 | |||||
Prepaid expenses and other current assets | 3,506 | 6,960 | |||||
Total current assets | 377,733 | 434,216 | |||||
Property and equipment, net | 1,618 | 1,445 | |||||
Long-term investments | 54,305 | 73,128 | |||||
Other long-term assets | 1,481 | 148 | |||||
Restricted cash | 60 | 60 | |||||
Total assets | $ | 435,197 | $ | 508,997 | |||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
Current liabilities: | |||||||
Accounts payable | $ | 16,237 | $ | 5,443 | |||
Accrued expenses | 11,052 | 8,761 | |||||
Notes payable, current portion | 1,375 | 7,574 | |||||
Other current liabilities | 871 | 58 | |||||
Total current liabilities | 29,535 | 21,836 | |||||
Other long-term liabilities | 654 | 796 | |||||
Stockholders’ equity: | |||||||
Preferred stock, $0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at December 31, 2019 and December 31, 2018, respectively | — | — | |||||
Common stock, $0.001 par value, 500,000 shares authorized, 27,255 shares and 26,922 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively | 27 | 27 | |||||
Additional paid in capital | 648,669 | 633,251 | |||||
Accumulated other comprehensive income (loss) | 338 | (223 | ) | ||||
Accumulated deficit | (244,026 | ) | (146,690 | ) | |||
Total stockholders’ equity | 405,008 | 486,365 | |||||
Total liabilities, preferred stock and stockholders’ equity | $ | 435,197 | $ | 508,997 |
ANAPTYSBIO, INC. | |||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS | |||||||||||||||
(in thousands, except per share data) | |||||||||||||||
Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||
Collaboration revenue | $ | 3,000 | $ | — | $ | 8,000 | $ | 5,000 | |||||||
Operating expenses: | |||||||||||||||
Research and development | 21,426 | 15,920 | 99,338 | 56,196 | |||||||||||
General and administrative | 3,832 | 3,743 | 16,094 | 15,526 | |||||||||||
Total operating expenses | 25,258 | 19,663 | 115,432 | 71,722 | |||||||||||
Loss from operations | (22,258 | ) | (19,663 | ) | (107,432 | ) | (66,722 | ) | |||||||
Other income (expense), net: | |||||||||||||||
Interest expense | (200 | ) | (365 | ) | (1,041 | ) | (1,652 | ) | |||||||
Interest income | 2,282 | 2,834 | 10,984 | 6,685 | |||||||||||
Other (expense) income, net | (109 | ) | 8 | 1 | (159 | ) | |||||||||
Total other income (expense), net | 1,973 | 2,477 | 9,944 | 4,874 | |||||||||||
Loss before income taxes | (20,285 | ) | (17,186 | ) | (97,488 | ) | (61,848 | ) | |||||||
Provision for income taxes | 22 | 192 | 152 | 192 | |||||||||||
Net loss | (20,263 | ) | (16,994 | ) | (97,336 | ) | (61,656 | ) | |||||||
Other comprehensive income (loss): | |||||||||||||||
Unrealized income (loss) on available for sale securities, net of tax of ($36), $55, $153, and $55, respectively | (142 | ) | 318 | 561 | 203 | ||||||||||
Comprehensive loss | $ | (20,405 | ) | $ | (16,676 | ) | $ | (96,775 | ) | $ | (61,453 | ) | |||
Net loss per common share: | |||||||||||||||
Basic and diluted | $ | (0.75 | ) | $ | (0.64 | ) | $ | (3.60 | ) | $ | (2.50 | ) | |||
Weighted-average number of shares outstanding: | |||||||||||||||
Basic and diluted | 27,154 | 26,788 | 27,059 | 24,673 |
1 Year AnaptysBio Chart |
1 Month AnaptysBio Chart |
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