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Dec 31, 2025
Anaptysbio Q4 2025 Earnings Report
AnaptysBio reported strong fourth quarter 2025 collaboration revenue growth and net income driven by Jemperli milestones and royalties.
Key Takeaways
Fourth quarter 2025 collaboration revenue increased significantly to 108249000, primarily driven by Jemperli sales milestones and higher royalties. The company reported net income of 49614000 compared to a net loss in the prior year period.
Collaboration revenue increased to 108249000 from 43113000 year-over-year.
Net income was 49614000 compared to a net loss of 21784000 in Q4 2024.
Research and development expenses declined to 25559000 from 42589000 year-over-year.
Cash and investments totaled 311638000 at year-end 2025.
Forward Guidance
The company plans to spin off its biopharma operations into First Tracks Biotherapeutics in Q2 2026 and expects the new entity to launch with adequate capital to fund operations through significant potential product milestones.
Positive Outlook
- Spin-off of biopharma operations targeted for Q2 2026.
- Jemperli exited Q4 2025 at approximately 1400000000 annualized run rate.
- Expectation of more than 390000000 in annualized Jemperli royalties at peak sales guidance.
- Adequate capital expected to fund operations post spin-off.
- Multiple clinical milestones anticipated across pipeline.
Challenges Ahead
- Net loss of 13232000 reported for full year 2025.
- Non-cash interest expense related to sale of future royalties of 19711000 in Q4.
- Cash decreased year-over-year due to operating use and share repurchases.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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