Anaptys Reports Fiscal First Quarter 2027 Financial Results and Provides Business Update
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
AnaptysBio (ANAB) reported fiscal first-quarter collaboration revenue of $30.3 million, down from the same period a year earlier.
For the three months ended September 30, 2026, revenue compared with $76.3 million a year earlier, when $50 million in milestone revenue was recognized. Continuing-operations net income fell to $3.9 million from $56.3 million; basic earnings per share fell to $0.13 from $2.02. Cash, cash equivalents and investments declined to $153.0 million from $164.1 million at June 30.
Jemperli royalties increased 11% quarter over quarter. Jemperli received U.S. approval in October for adults with stage II and III MSI-H/dMMR locally advanced rectal cancer. Anaptys expects annualized Jemperli royalties payable to it to exceed $390 million as early as 2029, at GSK’s peak monotherapy sales guidance above $2.7 billion. Quimilza’s FDA target action date for generalized pustular psoriasis is December 12, 2026.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major point. Forward-looking: it has not happened yet and may not happen.Anaptys expects over $390 million in annualized Jemperli royalties as early as 2029 at GSK’s peak monotherapy guidance above $2.7 billion.
- Moderate pointJemperli royalties increased 11% quarter over quarter for the three months ended September 30, 2026.
- Moderate pointJemperli received U.S. approval in October 2026 for adults with stage II and III MSI-H/dMMR locally advanced rectal cancer.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Anaptys anticipates paydown of the remaining approximately $270 million non-recourse debt monetization in calendar H2 2027.
- Minor pointJemperli royalty terms provide Anaptys 12% of net sales between $1.0 billion and $1.5 billion per calendar year.
8 minor points
- Minor point. Forward-looking: it has not happened yet and may not happen.Jemperli rectal-cancer submissions are expected in Japan H1 2027 and Europe and China H2 2027.
- Minor point. Forward-looking: it has not happened yet and may not happen.Jemperli rectal-cancer regulatory decision in Europe is expected in H2 2027.
- Minor point. Forward-looking: it has not happened yet and may not happen.AZUR-2 Phase 3 colon-cancer data are expected in 2028.
- Minor point. Forward-looking: it has not happened yet and may not happen.AZUR-4 Phase 2 colon-cancer trial has a primary completion date in Q4 2026.
- Minor point. Forward-looking: it has not happened yet and may not happen.JADE Phase 3 head-and-neck cancer data are expected in 2028.
- Minor pointNon-cash interest expense on future royalty sales fell to $18.742 million from $22.515 million year over year.
- Minor pointSublease income reached $667,000, compared with none in the year-earlier quarter.
- Minor pointIncome tax benefit was $608,000, versus a $269,000 provision a year earlier.
Negative
- Moderate pointCollaboration revenue fell to $30.3 million from $76.3 million; the prior-year quarter included $50 million in milestones.
- Moderate pointContinuing-operations net income fell to $3.9 million from $56.3 million year over year.
- Moderate pointContinuing-operations G&A expenses rose to $11.6 million from $1.1 million year over year.
- Minor pointContinuing-operations basic EPS fell to $0.13 from $2.02; diluted EPS fell to $0.11 from $1.94.
- Minor pointTotal net income fell to $3.876 million from $15.113 million year over year.
7 minor points
- Minor pointTotal basic EPS fell to $0.13 from $0.54; diluted EPS fell to $0.11 from $0.52.
- Minor pointCash, cash equivalents and investments declined $11.1 million from June 30 to $153.0 million.
- Minor pointOperating activities used $15.5 million, partly offset by $4.4 million received from stock option exercises.
- Minor pointResearch-and-development expense credits narrowed to $1.267 million from $2.035 million year over year.
- Minor pointOperating income declined to $19.905 million from $77.272 million year over year.
- Minor pointInterest income declined to $1.438 million from $1.861 million year over year.
- Minor pointQuimilza’s FDA decision remains pending, with a target action date of December 12, 2026.
News Explained
The post-trial hearing is complete, but Anaptys’ requested Jemperli-rights reversion remains unresolved pending an expected Q4 2026 or Q1 2027 judgment.
The company reports Jemperli global net sales of
The nine-month sales figure and the royalty band cover different periods, so this release does not establish how much of those reported sales falls within the band.
A post-trial hearing in the GSK and Tesaro litigation was held on
Anaptys estimates Sagard will have accrued about
Key Figures
- Jemperli global net sales
- $365 million
- Three months ended September 30, 2026; 20% year-over-year growth
- Jemperli global net sales
- $1.0 billion
- Nine months ended September 30, 2026; 29% year-over-year growth
- Royalty rate
- 12%
- On net sales between $1.0 billion and $1.5 billion in a given calendar year
- Annualized Jemperli royalties
- > $390 million
- Expected as early as 2029 at GSK peak monotherapy sales guidance of > $2.7 billion
- Cash, cash equivalents and investments
- $153.0 million
- As of September 30, 2026; down $11.1 million from June 30, 2026
- Collaboration revenue
- $30.3 million
- Three months ended September 30, 2026, versus $76.3 million in the year-earlier period
- Income from continuing operations
- $3.9 million
- Three months ended September 30, 2026, versus $56.3 million in the year-earlier period
- Quimilza FDA target action date
- December 12, 2026
- PDUFA date for generalized pustular psoriasis
Previous Earnings Reports
-
Prior-quarter Jemperli sales and collaboration revenue increased; a tax benefit drove continuing-operations income.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
msi-h medical
dmmr medical
pdufa regulatory
non-recourse debt monetization financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Jemperli global net sales of
$1.0 billion (£753 million ) for the nine months ended September 30, 2026, representing29% year-over-year growth - Jemperli approved in the U.S. as the first and only immunotherapy for adults with stage II and III microsatellite instability-high (MSI-H)/ mismatch repair deficient (dMMR) locally advanced rectal cancer
- Litigation with GSK and Tesaro: post-trial hearing held on October 20, 2026, with a judgment anticipated in calendar Q4 2026 or Q1 2027
SAN DIEGO, Nov. 12, 2026 (GLOBE NEWSWIRE) -- AnaptysBio, Inc. (Nasdaq: ANAB), a company focused on managing the financial collaborations for Jemperli with Tesaro, a GSK company, and Quimilza (imsidolimab) with Vanda, today reported financial results for the fiscal first quarter ended September 30, 2026, and provided a business update.
“Jemperli’s continued commercial growth in endometrial cancer, with global net sales reaching
GSK Jemperli Financial Collaboration
- GSK announced commercial performance for Jemperli
$365 million (£273 million ) in global net sales for the three months ended September 30, 2026, representing20% year-over-year growth1$1.0 billion (£753 million ) in global net sales for the nine months ended September 30, 2026, representing29% year-over-year growth1- Anaptys receives royalties equal to
12% of net sales between$1.0 billion and$1.5 billion in a given calendar year
- Anaptys receives royalties equal to
- Anaptys continues to expect to achieve >
$390 million in annualized Jemperli royalties payable to Anaptys as early as 2029 at GSK’s peak monotherapy sales guidance of >$2.7 billion 2 - Anaptys estimates Sagard will have accrued ~
$330 million in royalties and sales milestones through September 30, 2026 and anticipates paydown of the remaining ~$270 million non-recourse debt monetization in calendar H2 2027 - Jemperli development and regulatory updates announced by GSK include:
- AZUR-1 – dostarlimab monotherapy in adults with stage II and III MSI-H/dMMR locally advanced rectal cancer
- In October 2026, GSK received U.S. Food and Drug Administration (FDA) approval
- GSK presented first results from the AZUR-1 trial as a late-breaking abstract at ESMO Congress 2026 in Madrid, Spain, on October 25, 2026
- Regulatory submission expected in Japan in calendar H1 2027 and in Europe and China in calendar H2 2027
- Regulatory decision expected in Europe in calendar H2 2027
- AZUR-2 – pivotal Phase 3 – dostarlimab versus standard of care in untreated TN40 or stage III dMMR/ MSI-H resectable colon cancer
- Data expected in 2028
- AZUR-4 – Phase 2 – dostarlimab plus chemotherapy versus standard of care (chemotherapy) in untreated stage III MMRp/MSS resectable colon cancer
- Primary completion date in Q4 2026
- JADE – pivotal Phase 3 – dostarlimab monotherapy versus placebo in locally advanced unresected head and neck squamous cell carcinoma (PD-L1 CPS≥1) post chemoradiation
- Data expected in 2028
- AZUR-1 – dostarlimab monotherapy in adults with stage II and III MSI-H/dMMR locally advanced rectal cancer
Vanda Quimilza (imsidolimab) Financial Collaboration
- FDA target action date (PDUFA) of December 12, 2026, for Quimilza in generalized pustular psoriasis (GPP)
GSK and Tesaro Litigation Update
- The post-trial hearing was held before the Delaware Chancery Court on October 20, 2026
- Anaptys is seeking reversion of Jemperli rights as a remedy; the Company anticipates a judgment in calendar Q4 2026 or Q1 2027
Fiscal First Quarter Financial Results
- The separation of AnaptysBio and First Tracks Biotherapeutics was completed on April 20, 2026. Beginning in the second quarter of 2026, AnaptysBio reclassified historical First Tracks Biotherapeutics, Inc. related assets, liabilities and expenses as discontinued operations.
- Cash, cash equivalents and investments totaled
$153.0 million as of September 30, 2026, compared to$164.1 million as of June 30, 2026, for a decrease of$11.1 million due primarily to$15.5 million used for operating activities offset by$4.4 million received from stock option exercises. - Collaboration revenue was
$30.3 million for the three months ended September 30, 2026, compared to$76.3 million for the three months ended September 30, 2025. The decrease is primarily due to$50 million in milestone revenue recognized in Q3 2025 offset by Jemperli royalties increasing11% quarter over quarter for the three months ended September 30, 2026. - General and administrative expenses from continuing operations were
$11.6 million for the three months ended September 30, 2026, compared to$1.1 million for the three months ended September 30, 2025. The increase was due primarily to legal costs for the GSK and Tesaro lawsuit, audit and tax costs to support the June 30, 2026 transition year financials, and the allocation of G&A costs between AnaptysBio and First Tracks Biotherapeutics, Inc. for the three months ended September 30, 2025.- The expenses recognized for the three months ended September 30, 2026, include
$4.8 million in legal costs for the GSK and Tesaro litigation and$2.2 million in recurring expenses, including contractor support, legal services unrelated to the GSK and Tesaro litigation, and other public company expenses. - The G&A non-cash, stock-based compensation expense was
$3.2 million for the three months ended September 30, 2026, as compared to$0.5 million in the same period in 2025.
- The expenses recognized for the three months ended September 30, 2026, include
- Research and development expenses from continuing operations were a negative
$1.3 million for the three months ended September 30, 2026, compared to a negative$2.0 million for the three months ended September 30, 2025. The decrease for the three months ended September 30, 2026 was primarily due to adjustments related to the closeout of clinical contracts reducing expenses incurred prior to the separation. - Net income from continuing operations was
$3.9 million for the three months ended September 30, 2026, or a net income per share of$0.13 , compared to a net income from continuing operations of$56.3 million for the three months ended September 30, 2025, or a net income per share of$2.02 .
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 future clinical, commercial and regulatory developments for Jemperli and Quimilza, future royalty amounts, the Company’s expected paydown of its obligations to Sagard, and the timing or outcome of the Company’s ongoing litigation with GSK. 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 its 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 commercial success of the Company’s licensed products, the company’s ability to protect its financial collaborations and return value to its shareholders, the company’s ability to operate efficiently with a limited staff, 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.
About Anaptys
Anaptys manages the financial collaborations for Jemperli with GSK and Quimilza with Vanda, with a focus on protecting and returning the value of its royalties to shareholders. To learn more, visit www.AnaptysBio.com or follow us on LinkedIn.
Contact:
Chris Murphy
Chief Financial Officer
investors@anaptysbio.com
_______________________________________
1. GSK Q3 2026 earnings call, 10/28/2026
2. CEO Emma Walmsley, 2025 JP Morgan CEO Series fireside chat, 9/11/2025, “there's no change to our peak year sales overall ambition for Jemperli, that's for sure, which is far more than
| AnaptysBio, Inc. Balance Sheets (in thousands, except par value data) (unaudited) | ||||||||
| September 30, 2026 | June 30, 2026 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 135,394 | $ | 133,826 | ||||
| Receivables from collaborative partners | 30,494 | 25,634 | ||||||
| Short-term investments | 17,599 | 30,317 | ||||||
| Prepaid expenses and other current assets | 4,886 | 8,650 | ||||||
| Total current assets | 188,373 | 198,427 | ||||||
| Property and equipment, net | 97 | 102 | ||||||
| Deferred tax asset | 107,247 | 106,639 | ||||||
| Operating lease right-of-use assets | 11,070 | 11,560 | ||||||
| Other long-term assets | 256 | 256 | ||||||
| Total assets | $ | 307,043 | $ | 316,984 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 879 | $ | 4,394 | ||||
| Accrued expenses | 19,339 | 28,798 | ||||||
| Current portion of operating lease liability | 2,203 | 2,161 | ||||||
| Total current liabilities | 22,421 | 35,353 | ||||||
| Liability related to sale of future royalties | 249,819 | 256,493 | ||||||
| Long-term taxes payable | 3,619 | 3,619 | ||||||
| Operating lease liability, net of current portion | 10,364 | 10,934 | ||||||
| Stockholders’ equity: | ||||||||
| Preferred stock, | — | — | ||||||
| Common stock, | 30 | 30 | ||||||
| Additional paid in capital | 658,658 | 652,269 | ||||||
| Accumulated other comprehensive loss | (181 | ) | (151 | ) | ||||
| Accumulated deficit | (637,687 | ) | (641,563 | ) | ||||
| Total stockholders’ equity | 20,820 | 10,585 | ||||||
| Total liabilities and stockholders’ equity | $ | 307,043 | $ | 316,984 | ||||
| AnaptysBio, Inc. Statements of Operations and Comprehensive Income (in thousands, except per share data) (unaudited) | ||||||||
| Three Months Ended September 30, | ||||||||
| 2026 | 2025 | |||||||
| Collaboration revenue | $ | 30,274 | $ | 76,320 | ||||
| Operating expenses: | ||||||||
| Research and development | (1,267 | ) | (2,035 | ) | ||||
| General and administrative | 11,636 | 1,083 | ||||||
| Total operating expenses | 10,369 | (952 | ) | |||||
| Income from operations | 19,905 | 77,272 | ||||||
| Other income (expense), net: | ||||||||
| Interest income | 1,438 | 1,861 | ||||||
| Sublease income | 667 | — | ||||||
| Non-cash interest expense for the sale of future royalties | (18,742 | ) | (22,515 | ) | ||||
| Total other expense, net | (16,637 | ) | (20,654 | ) | ||||
| Income before income taxes | 3,268 | 56,618 | ||||||
| Benefit (provision) for income taxes | 608 | (269 | ) | |||||
| Income from continuing operations | 3,876 | 56,349 | ||||||
| Loss from discontinued operations, net of tax | — | (41,236 | ) | |||||
| Net income | 3,876 | 15,113 | ||||||
| Other comprehensive income: | ||||||||
| Unrealized (loss) gain on available for sale securities | (30 | ) | 53 | |||||
| Total comprehensive income | $ | 3,846 | $ | 15,166 | ||||
| Net income (loss) per common share: | ||||||||
| Income from continuing operations - basic | $ | 0.13 | $ | 2.02 | ||||
| Loss from discontinued operations - basic | — | (1.48 | ) | |||||
| Net income per common share - basic | $ | 0.13 | $ | 0.54 | ||||
| Income from continuing operations - diluted | $ | 0.11 | $ | 1.94 | ||||
| Loss from discontinued operations - diluted | — | (1.42 | ) | |||||
| Net income per common share - diluted | $ | 0.11 | $ | 0.52 | ||||
| Weighted-average number of shares outstanding: | ||||||||
| Basic | 29,847 | 27,833 | ||||||
| Diluted | 35,072 | 29,018 | ||||||
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