Anaptysbio Inc Stock Price, News & Analysis

AnaptysBio, a clinical-stage biotechnology company, announced an amendment to its collaboration agreement with GlaxoSmithKline (GSK) that significantly increases royalties on its immuno-oncology drug, dostarlimab. The royalty rates will now range from 8% to 25% of global net sales, with an anticipated FDA approval for endometrial cancer in Q4 2020. Additionally, GSK will make a one-time cash payment of $60 million and provide a 1% royalty on Zejula™ sales starting January 2021. AnaptysBio expects $75 million in cash milestones over the next 18 months.

AnaptysBio announced positive topline data from the Phase 2 GALLOP trial of imsidolimab for treating generalized pustular psoriasis (GPP). Six out of eight patients achieved the primary endpoint of clinical improvement on Day 29, with skin pustules decreasing by 60% by Day 8 and 94% by Day 29. The company anticipates an FDA end-of-Phase 2 meeting in Q4 2020 to discuss the registration pathway. Additionally, the Phase 2 trial for palmoplantar pustulosis will provide top-line data in Q1 2021, as will the initiation of a global registry for GPP and PPP patients.

AnaptysBio, a clinical-stage biotechnology company focused on antibody development, announced that CEO Hamza Suria will present at the 2020 Cantor Global Virtual Healthcare Conference on September 17, 2020, at 12:00 p.m. ET. The presentation will be accessible online, with a replay available for 90 days post-event. AnaptysBio's pipeline includes anti-IL-36R antibody imsidolimab and anti-IL-33 antibody etokimab, targeting rare inflammatory diseases and chronic conditions. The company employs a proprietary somatic hypermutation platform for antibody discovery.

AnaptysBio reported interim 8-week data from the ECLIPSE Phase 2 trial for etokimab, showing no statistically significant improvement in chronic rhinosinusitis with nasal polyps compared to placebo. The company plans to evaluate the program's future after analyzing complete 16-week data by year-end 2020. Meanwhile, the Imsidolimab program received orphan drug designation, and additional top-line data is expected in Q4 2020. Financially, the company reported a Q2 net loss of $21.5 million with cash reserves of $392.2 million, projecting a cash burn of $60 million for 2020.

AnaptysBio, a clinical-stage biotechnology company focused on antibody development, announced that CEO Hamza Suria will present at the 2020 Wedbush PacGrow Healthcare Conference on August 11, 2020, at 2:55 p.m. ET. The conference will be virtual, and the presentation can be accessed via a provided link. AnaptysBio's pipeline includes innovative therapies targeting inflammation and immuno-oncology, such as etokimab for chronic rhinosinusitis and imsidolimab for rare inflammatory diseases. A replay of the presentation will be available for 90 days post-event.

AnaptysBio, a clinical-stage biotechnology company, announced the appointment of Dr. Paul F. Lizzul as Chief Medical Officer on July 31, 2020. Dr. Lizzul brings extensive experience in immune-modulating therapeutics, previously serving at Amgen and Sienna Biopharmaceuticals. AnaptysBio's pipeline includes seven therapeutic antibodies, with ongoing programs like etokimab and imsidolimab aimed at treating inflammatory diseases. The leadership change is expected to enhance the company’s development efforts and support its capital-efficient business model.

AnaptysBio (Nasdaq: ANAB) has appointed Dennis Mulroy as Chief Financial Officer and Eric Loumeau as Chief Operating Officer, enhancing its leadership team. Mulroy, previously CFO at La Jolla Pharmaceutical Company, will oversee finance and investor relations. Loumeau, who has been with AnaptysBio since 2018 and served as Interim CFO, will manage business strategy and operations. These appointments are expected to bolster AnaptysBio's capital-efficient model and advance its pipeline of antibody candidates targeting inflammation and immuno-oncology.

AnaptysBio (Nasdaq: ANAB) announced that the FDA granted orphan drug designation for imsidolimab, an anti-IL-36R antibody targeting generalized pustular psoriasis (GPP), a rare disease affecting approximately 3,000 patients in the U.S. The company anticipates additional data and regulatory updates from the ongoing GALLOP Phase 2 trial for GPP and top-line data from the POPLAR Phase 2 trial for palmoplantar pustulosis (PPP) in H2 2020. AnaptysBio plans to expand imsidolimab's clinical development into additional indications.

AnaptysBio reported Q1 2020 results, revealing a net loss of $8.3 million or $0.30 per share, significantly improved from a net loss of $22.1 million in Q1 2019. Cash reserves totaled $412.7 million, down from $428.5 million. The company anticipates interim data from the ECLIPSE trial in Q3 2020 and has over-enrolled due to COVID-19. Notable developments include the FDA acceptance of the BLA for dostarlimab, earning AnaptysBio significant milestone payments and potential royalties. The firm expects a net cash burn of $60 million for 2020, funding operations through at least 2023.