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Sep 30, 2024
Anaptysbio Q3 2024 Earnings Report
Anaptysbio's financial performance and business updates for Q3 2024 were reported.
Key Takeaways
AnaptysBio reported a net loss of $32.9 million for the third quarter of 2024, with collaboration revenue of $30.0 million. The company's cash and investments totaled $458.0 million, reiterating cash runway through year-end 2026. Clinical trial milestones for ANB032 and rosnilimab are anticipated in December 2024 and February 2025, respectively.
Top-line Phase 2b data for ANB032 in atopic dermatitis is anticipated in December 2024.
Top-line Phase 2b data for rosnilimab in rheumatoid arthritis is anticipated in February 2025.
Phase 1 trial initiated in healthy volunteers for ANB033.
Cash runway reiterated through year-end 2026, with cash and investments totaling $458.0 million as of September 30, 2024.
Anaptysbio
Anaptysbio
Forward Guidance
AnaptysBio anticipates several clinical trial milestones and value drivers, including top-line data for ANB032 and rosnilimab, and the initiation of a Phase 1 trial for ANB033.
Positive Outlook
- Top-line Phase 2b data for ANB032 in AD anticipated in December 2024
- Top-line Phase 2b data for rosnilimab in RA anticipated in February 2025
- Phase 1 trial initiated for ANB033 in healthy volunteers in October 2024
- Plan to initiate enrollment for Phase 1 trial for ANB101 in healthy volunteers in Q1 2025
- GSK anticipates top-line data in H1 2025 from COSTAR Lung Phase 3 trial
Challenges Ahead
- The timing of the release of data from the Company’s clinical trials is uncertain.
- The Company’s ability to find a licensing partner for imsidolimab or etokimab and the timing of any such transaction is uncertain.
- The company’s projected cash runway is subject to change.
- The potential to receive any additional royalties from the GSK collaboration is not guaranteed.
- The company’s ability to advance its product candidates, obtain regulatory approval of and ultimately commercialize its product candidates is subject to risk.