AnaptysBio, Inc. Authorizes $75 Million Stock Repurchase Plan

AnaptysBio announces a $75 million stock repurchase plan, reinforcing its financial position and commitment to R&D.

Quiver AI Summary

AnaptysBio, Inc. has announced a Stock Repurchase Plan allowing for the buyback of up to $75 million of its common stock. As of the end of 2024, the company reports having over $420 million in cash and investments and expects to receive a $75 million milestone payment from GSK within the next two years. Despite this repurchase plan, AnaptysBio reaffirms its guidance for maintaining its cash runway through the end of 2027 to support its R&D initiatives. The buybacks may occur through various market transactions, depending on several factors including market conditions, and the plan will remain active until December 31, 2025. AnaptysBio is focused on innovative immunology therapeutics, with ongoing clinical trials for treatments related to autoimmune diseases and a collaboration with GSK in immuno-oncology.

Potential Positives

• AnaptysBio has authorized a Stock Repurchase Plan, allowing for the repurchase of up to $75 million of its outstanding common stock, which may enhance shareholder value.
• The company has substantial cash reserves, exceeding $420 million, giving it a strong financial position to support ongoing and future projects.
• AnaptysBio anticipates a $75 million commercial sales milestone payment from GSK in 2025 or 2026, indicating potential for future revenue growth.
• The company reiterates its cash runway guidance through year-end 2027, demonstrating confidence in its ability to fund its research and development initiatives.

Potential Negatives

• The Stock Repurchase Plan may indicate a lack of immediate investment opportunities or confidence in organic growth, which could raise concerns among investors about the company's future growth prospects.
• The press release emphasizes potential risks and uncertainties associated with forward-looking statements, which might highlight vulnerabilities in the company's ability to achieve its stated goals.
• The duration of the Stock Repurchase Plan is limited to December 31, 2025, which could imply that the company may not have long-term strategies in place to stabilize or increase shareholder value beyond that date.

FAQ

What is AnaptysBio's Stock Repurchase Plan?

AnaptysBio's Stock Repurchase Plan authorizes repurchases of up to $75 million of its common stock.

When does the Stock Repurchase Plan expire?

The Stock Repurchase Plan will expire on December 31, 2025.

How much cash does AnaptysBio have as of December 31, 2024?

AnaptysBio has cash, cash equivalents, and investments greater than $420 million as of December 31, 2024.

What are AnaptysBio's key therapeutics in development?

AnaptysBio's lead program is rosnilimab, with additional candidates including ANB033 and ANB101 in various trial phases.

What is the purpose of the Stock Repurchase Plan?

The purpose is to potentially return value to shareholders while maintaining sufficient capital for research and development.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$ANAB Insider Trading Activity

$ANAB insiders have traded $ANAB stock on the open market 5 times in the past 6 months. Of those trades, 3 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $ANAB stock by insiders over the last 6 months:

• CAPITAL, LLC ECOR1 has made 3 purchases buying 85,098 shares for an estimated $1,099,642 and 0 sales.
• HOLLINGS RENTON sold 10,000 shares for an estimated $250,000
• PAUL F. LIZZUL (Chief Medical Officer) sold 1,500 shares for an estimated $58,005

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$ANAB Hedge Fund Activity

We have seen 67 institutional investors add shares of $ANAB stock to their portfolio, and 94 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• FAIRMOUNT FUNDS MANAGEMENT LLC added 1,816,466 shares (+inf%) to their portfolio in Q4 2024, for an estimated $24,050,009
• CAMBER CAPITAL MANAGEMENT LP added 1,250,000 shares (+inf%) to their portfolio in Q4 2024, for an estimated $16,550,000
• MANGROVE PARTNERS IM, LLC removed 689,521 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $9,129,258
• FRAZIER LIFE SCIENCES MANAGEMENT, L.P. removed 635,470 shares (-28.8%) from their portfolio in Q4 2024, for an estimated $8,413,622
• SOLEUS CAPITAL MANAGEMENT, L.P. added 414,000 shares (+inf%) to their portfolio in Q4 2024, for an estimated $5,481,360
• STATE STREET CORP added 379,573 shares (+41.9%) to their portfolio in Q4 2024, for an estimated $5,025,546
• BLACKROCK, INC. added 368,279 shares (+16.9%) to their portfolio in Q4 2024, for an estimated $4,876,013

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$ANAB Analyst Ratings

Wall Street analysts have issued reports on $ANAB in the last several months. We have seen 5 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

• Wolfe Research issued a "Outperform" rating on 02/03/2025
• Wedbush issued a "Buy" rating on 10/21/2024
• Guggenheim issued a "Buy" rating on 10/21/2024
• Piper Sandler issued a "Overweight" rating on 10/15/2024
• Leerink Partners issued a "Outperform" rating on 10/03/2024

To track analyst ratings and price targets for $ANAB, check out Quiver Quantitative's $ANAB forecast page.

$ANAB Price Targets

Multiple analysts have issued price targets for $ANAB recently. We have seen 6 analysts offer price targets for $ANAB in the last 6 months, with a median target of $40.0.

Here are some recent targets:

• Andy Chen from Wolfe Research set a target price of $25.0 on 02/04/2025
• Emily Bodnar from H.C. Wainwright set a target price of $19.0 on 12/11/2024
• David Risinger from Leerink Partners set a target price of $45.0 on 11/06/2024
• Yatin Suneja from Guggenheim set a target price of $90.0 on 10/21/2024
• Yasmeen Rahimi from Piper Sandler set a target price of $80.0 on 10/15/2024
• David Risinger from New Street set a target price of $35.0 on 10/03/2024

Full Release

SAN DIEGO, March 24, 2025 (GLOBE NEWSWIRE) -- AnaptysBio, Inc. (Nasdaq: ANAB), a clinical-stage biotechnology company focused on delivering innovative immunology therapeutics, today announced that its Board of Directors has authorized a Stock Repurchase Plan under which the Company may repurchase up to $75,000,000 of the Company’s outstanding common stock, par value $0.001 per share.

Anaptys has cash, cash equivalents and investments greater than $420 million as of December 31, 2024, and anticipates receipt of a $75 million commercial sales milestone payment from GSK in 2025 or 2026. Notwithstanding the potential full execution of the Stock Repurchase Plan, the Company reiterates its previous cash runway guidance through year-end 2027 to execute its research and development plan, excluding potential future royalties from its GSK immuno-oncology financial collaboration.

The shares may be repurchased from time to time in open market transactions, or other means in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Rule 10b-18 of the Exchange Act. The timing, number of shares repurchased, and prices paid for the stock under this program will depend on general business and market conditions as well as corporate and regulatory limitations, prevailing stock prices, and other considerations. The Stock Repurchase Plan will expire on December 31, 2025, may be suspended or discontinued at any time, and does not obligate the company to acquire any amount of common stock.

About Anaptys

Anaptys is a clinical-stage biotechnology company focused on delivering innovative immunology therapeutics for autoimmune and inflammatory diseases. Its lead program, rosnilimab, a depleter and agonist targeting PD-1+ T cells, is in a Phase 2b trial for the treatment of rheumatoid arthritis and in a Phase 2 trial for the treatment of ulcerative colitis. Other antibodies in its portfolio include ANB033, a CD122 antagonist, in a Phase 1 trial and ANB101, a BDCA2 modulator, entering a Phase 1 trial. Anaptys has also discovered multiple therapeutic antibodies licensed to GSK in a financial collaboration for immuno-oncology, including a PD-1 antagonist (

Jemperli

(dostarlimab-gxly)) and a TIM-3 antagonist (cobolimab, GSK4069889). To learn more, visit

www.AnaptysBio.com

or follow us on

LinkedIn

.

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 company’s ability to execute the Stock Repurchase Plan, in whole or in part; the company’s projected cash runway, and the potential to receive any additional milestones or royalties from the GSK collaboration. 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 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:



Nick Montemarano


Executive Director, Investor Relations


858.732.0178



investors@anaptysbio.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.