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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 | |
---|---|---|---|---|---|---|---|---|---|---|
-0.81 | -3.05% | 25.77 | 15.00 | 33.77 | 26.92 | 25.29 | 26.60 | 195,199 | 21:00:10 |
“While we are disappointed with the top-line results of our etokimab ATLAS trial, we intend to re-evaluate our etokimab development strategy following additional data from ATLAS and top-line results from ECLIPSE in the first quarter of 2020,” said Hamza Suria, president and chief executive officer of AnaptysBio. “We look forward to advancing ANB019, ANB030 and additional preclinical programs in our wholly-owned pipeline.”
Etokimab (ANB020 Anti-IL-33) Program
ANB019 (Anti-IL-36 Receptor) Program
ANB030 (Anti-PD-1 Agonist) Program
Board of Directors
Third Quarter Financial Results
Financial Guidance
AnaptysBio expects that its cash, cash equivalents and investments will fund its current operating plan, taking into account the adjustments to etokimab clinical development activities referenced above, at least into 2021. The Company expects to re-evaluate its current operating plan in light of the topline data from the ATLAS trial and to make adjustments as appropriate to manage the Company’s available cash resources.
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 moderate-to-severe atopic dermatitis, eosinophilic asthma, and adult chronic rhinosinusitis with nasal polyps, or CRSwNP; its anti-IL-36R antibody ANB019 for the treatment of rare inflammatory diseases, including generalized pustular psoriasis, or GPP, and palmoplantar pustulosis, or PPP; and its PD-1 agonist program, ANB030, and other novel anti-inflammatory checkpoint receptor modulator antibodies for treatment of certain autoimmune diseases where immune checkpoint receptors are insufficiently activated. 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 chronic rhinosinusitis with nasal polys 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, and the timing of an IND filing and initiation of a Phase 1 clinical trial for ANB030, a new wholly-owned anti-inflammatory antibody program. 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 data) | |||||||||
September 30, 2019 | December 31, 2018 | ||||||||
(unaudited) | |||||||||
ASSETS | |||||||||
Current assets: | |||||||||
Cash and cash equivalents | $ | 182,898 | $ | 113,596 | |||||
Australian tax incentive receivable | — | 174 | |||||||
Short-term investments | 238,104 | 313,486 | |||||||
Prepaid expenses and other current assets | 3,595 | 6,960 | |||||||
Total current assets | 424,597 | 434,216 | |||||||
Property and equipment, net | 1,695 | 1,445 | |||||||
Long-term investments | 23,418 | 73,128 | |||||||
Other long-term assets | 1,735 | 148 | |||||||
Restricted cash | 60 | 60 | |||||||
Total assets | $ | 451,505 | $ | 508,997 | |||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||
Current liabilities: | |||||||||
Accounts payable | $ | 10,522 | $ | 5,443 | |||||
Accrued expenses | 15,286 | 8,761 | |||||||
Notes payable, current portion | 3,077 | 7,574 | |||||||
Other current liabilities | 845 | 58 | |||||||
Total current liabilities | 29,730 | 21,836 | |||||||
Other long-term liabilities | 883 | 796 | |||||||
Stockholders’ equity: | |||||||||
Preferred stock, $0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at September 30, 2019 and December 31, 2018, respectively | — | — | |||||||
Common stock, $0.001 par value, 500,000 shares authorized, 27,098 shares and 26,922 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively | 27 | 27 | |||||||
Additional paid in capital | 644,148 | 633,251 | |||||||
Accumulated other comprehensive income (loss) | 480 | (223 | ) | ||||||
Accumulated deficit | (223,763 | ) | (146,690 | ) | |||||
Total stockholders’ equity | 420,892 | 486,365 | |||||||
Total liabilities and stockholders’ equity | $ | 451,505 | $ | 508,997 |
ANAPTYSBIO, INC. | ||||||||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS | ||||||||||||||||||||
(in thousands, except per share data) | ||||||||||||||||||||
(unaudited) | ||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||
2019 | 2018 | 2019 | 2018 | |||||||||||||||||
Collaboration revenue | $ | — | $ | 5,000 | $ | 5,000 | $ | 5,000 | ||||||||||||
Operating expenses: | ||||||||||||||||||||
Research and development | 29,931 | 17,883 | 77,912 | 40,276 | ||||||||||||||||
General and administrative | 3,814 | 4,004 | 12,262 | 11,783 | ||||||||||||||||
Total operating expenses | 33,745 | 21,887 | 90,174 | 52,059 | ||||||||||||||||
Loss from operations | (33,745 | ) | (16,887 | ) | (85,174 | ) | (47,059 | ) | ||||||||||||
Other income (expense), net: | ||||||||||||||||||||
Interest expense | (240 | ) | (400 | ) | (841 | ) | (1,287 | ) | ||||||||||||
Interest income | 2,757 | 1,369 | 8,702 | 3,851 | ||||||||||||||||
Other income (expense), net | 144 | (40 | ) | 110 | (167 | ) | ||||||||||||||
Total other income (expense), net | 2,661 | 929 | 7,971 | 2,397 | ||||||||||||||||
Loss before income taxes | (31,084 | ) | (15,958 | ) | (77,203 | ) | (44,662 | ) | ||||||||||||
Provision for income taxes | 51 | — | 130 | — | ||||||||||||||||
Net loss | (31,033 | ) | (15,958 | ) | (77,073 | ) | (44,662 | ) | ||||||||||||
Other comprehensive income (loss): | ||||||||||||||||||||
Unrealized (loss) income on available for sale securities, net of tax of ($25), $0, $189 and $0, respectively | (94 | ) | 136 | 703 | (115 | ) | ||||||||||||||
Comprehensive loss | $ | (31,127 | ) | $ | (15,822 | ) | $ | (76,370 | ) | $ | (44,777 | ) | ||||||||
Net loss per common share: | ||||||||||||||||||||
Basic and diluted | $ | (1.15 | ) | $ | (0.66 | ) | $ | (2.85 | ) | $ | (1.86 | ) | ||||||||
Weighted-average number of shares outstanding: | ||||||||||||||||||||
Basic and diluted | 27,058 | 24,146 | 27,022 | 23,961 |
1 Year AnaptysBio Chart |
1 Month AnaptysBio Chart |
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