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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 made progress in advancing AnaptysBio’s pipeline during 2020 and look forward to multiple clinical readouts from our wholly-owned programs in 2021. Imsidolimab will continue to be our key focus going forward as we anticipate GPP Phase 3 initiation and Phase 2 topline readouts from five other immune-dermatology indications through 2021 and 2022. We also anticipate commercial launch of dostarlimab this year and meaningful milestone and royalty revenue to AnaptysBio under our GSK partnership,” said Hamza Suria, president and chief executive officer of AnaptysBio. “Our strategy is to continue advancing first-in-class immunology-focused therapeutic antibodies through key clinical data catalysts using a capital-efficient business model.”
Imsidolimab (Anti-IL-36 Receptor) Program
ANB030 (Anti-PD-1 Agonist) Program
ANB032 (Anti-BTLA Modulator) Program
Etokimab (ANB020 Anti-IL-33) Program
Dostarlimab (Anti-PD-1 Antagonist) Program Partnered with GSK
Board of Directors
Fourth Quarter Financial Results
Financial Guidance
AnaptysBio expects its net cash burn in 2021 will be close to $100 million. We anticipate that our cash, cash equivalents and anticipated revenues will fund our current operating plan at least into 2024.
About AnaptysBioAnaptysBio is a clinical-stage biotechnology company developing first-in-class antibody product candidates focused on emerging immune control mechanisms applicable to inflammation and immuno-oncology indications. The Company’s proprietary anti-inflammatory pipeline includes its anti-IL-36R antibody imsidolimab, previously referred to as ANB019, for the treatment of rare inflammatory diseases, including generalized pustular psoriasis, or GPP, palmoplantar pustulosis, or PPP, EGFRi, ichthyosis, hidradenitis suppurativa and acne; 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 collaboration with GlaxoSmithKline, including an anti-PD-1 antagonist antibody (dostarlimab GSK4057190A), an anti-TIM-3 antagonist antibody (cobolimab, GSK4069889A) and an anti-LAG-3 antagonist antibody (GSK4074386), and an inflammation collaboration with Bristol-Myers Squibb, including an anti-PD-1 checkpoint agonist antibody (CC-90006) currently in clinical development.
Forward-Looking StatementsThis 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 imsidolimab’s Phase 2 clinical trial in PPP, imsidolimab’s Phase 2 clinical trials in EGFRi, ichthyosis, hidradenitis suppurativa, and acne, and ANB030’s Phase 1 healthy volunteer clinical trial; the timing of initiation of imsidolimab’s Phase 2 clinical trials in hidradenitis suppurativa and acne; the timing of initiation of imsidolimab’s Phase 3 clinical trial in GPP; the timing of initiation of ANB032’s Phase 1 healthy volunteer clinical trial; the milestones and royalty payments to be received under the GSK collaboration; and our projected 2021 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:Dennis MulroyAnaptysBio, Inc. 858.732.0201dmulroy@anaptysbio.com
AnaptysBio, Inc.Consolidated Balance Sheets (in thousands, except par value)
December 31, 2020 | December 31, 2019 | ||||||||
ASSETS | |||||||||
Current assets: | |||||||||
Cash and cash equivalents | $ | 250,456 | $ | 171,017 | |||||
Short-term investments | 143,197 | 203,210 | |||||||
Prepaid expenses and other current assets | 2,908 | 3,506 | |||||||
Total current assets | 396,561 | 377,733 | |||||||
Property and equipment, net | 1,783 | 1,618 | |||||||
Long-term investments | 17,546 | 54,305 | |||||||
Other long-term assets | 602 | 1,481 | |||||||
Restricted cash | 60 | 60 | |||||||
Total assets | $ | 416,552 | $ | 435,197 | |||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||
Current liabilities: | |||||||||
Accounts payable | $ | 4,217 | $ | 16,237 | |||||
Accrued expenses | 15,262 | 11,052 | |||||||
Notes payable, current portion | — | 1,375 | |||||||
Other current liabilities | 342 | 871 | |||||||
Total current liabilities | 19,821 | 29,535 | |||||||
Other long-term liabilities | — | 654 | |||||||
Stockholders’ equity: | |||||||||
Preferred stock, $0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at December 31, 2020 and December 31, 2019, respectively | — | — | |||||||
Common stock, $0.001 par value, 500,000 shares authorized, 27,356 shares and 27,255 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively | 27 | 27 | |||||||
Additional paid in capital | 660,665 | 648,669 | |||||||
Accumulated other comprehensive (loss) income | (4 | ) | 338 | ||||||
Accumulated deficit | (263,957 | ) | (244,026 | ) | |||||
Total stockholders’ equity | 396,731 | 405,008 | |||||||
Total liabilities and stockholders’ equity | $ 416,552 | $ 435,197 |
AnaptysBio, Inc.Consolidated Statements of Operations and Comprehensive Income (Loss)(in thousands, except per share data)
Three Months EndedDecember 31, | Year EndedDecember 31, | ||||||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||||||
Collaboration revenue | $ | 60,000 | $ | 3,000 | $ | 75,000 | $ | 8,000 | |||||||||||
Operating expenses: | |||||||||||||||||||
Research and development | 21,567 | 21,426 | 80,025 | 99,338 | |||||||||||||||
General and administrative | 5,088 | 3,832 | 18,854 | 16,094 | |||||||||||||||
Total operating expenses | 26,655 | 25,258 | 98,879 | 115,432 | |||||||||||||||
Income (loss) from operations | 33,345 | (22,258 | ) | (23,879 | ) | (107,432 | ) | ||||||||||||
Other income (expense), net: | |||||||||||||||||||
Interest expense | — | (200 | ) | — | (1,041 | ) | |||||||||||||
Interest income | 376 | 2,282 | 3,959 | 10,984 | |||||||||||||||
Other (expense) income, net | (75 | ) | (109 | ) | (11 | ) | 1 | ||||||||||||
Total other income (expense), net | 301 | 1,973 | 3,948 | 9,944 | |||||||||||||||
Income (loss) before income taxes | 33,646 | (20,285 | ) | (19,931 | ) | (97,488 | ) | ||||||||||||
Provision for income taxes | — | 22 | — | 152 | |||||||||||||||
Net income (loss) | 33,646 | (20,263 | ) | (19,931 | ) | (97,336 | ) | ||||||||||||
Other comprehensive (loss) income: | |||||||||||||||||||
Unrealized (loss) income on available for sale securities, net of tax of $0, ($36), $0, and $153, respectively | (263 | ) | (142 | ) | (342 | ) | 561 | ||||||||||||
Comprehensive income (loss) | $ | 33,383 | $ | (20,405 | ) | $ | (20,273 | ) | $ | (96,775 | ) | ||||||||
Net income (loss) per common share: | |||||||||||||||||||
Basic | $ | 1.23 | $ | (0.75 | ) | $ | (0.73 | ) | $ | (3.60 | ) | ||||||||
Diluted | $ | 1.20 | $ | (0.75 | ) | $ | (0.73 | ) | $ | (3.60 | ) | ||||||||
Weighted-average number of shares outstanding: | |||||||||||||||||||
Basic | 27,349 | 27,154 | 27,302 | 27,059 | |||||||||||||||
Diluted | 27,938 | 27,154 | 27,302 | 27,059 |
1 Year AnaptysBio Chart |
1 Month AnaptysBio Chart |
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