AnaptysBio, Inc. - ANAB STOCK NEWS

AnaptysBio, a clinical-stage biotechnology firm focusing on immunology therapeutics, has appointed Dr. Rita Jain to its Board of Directors, effective immediately, following the resignation of Laura J. Hamill. Dr. Jain brings extensive expertise in rheumatology and drug development, which is expected to enhance the board’s capabilities during a critical growth phase for the company. Dr. Jain is involved in advancing immune cell modulators for autoimmune disorders, particularly in guiding Phase 2 clinical trials targeting PD-1 and BTLA checkpoint agonists. AnaptysBio’s portfolio includes several candidates in late-stage development, indicating a strong focus on addressing unmet medical needs in autoimmune diseases.

AnaptysBio, Inc. (Nasdaq: ANAB) announced significant interim results from the RUBY phase 3 trial of Jemperli (dostarlimab-gxly) for advanced endometrial cancer. The trial showed a 72% reduction in the risk of disease progression or death in the dMMR/MSI-H population, and a 36% reduction in the overall patient population. The results were published in The New England Journal of Medicine and presented at the ESMO Virtual Plenary. GSK aims for regulatory submissions in the first half of 2023. AnaptysBio anticipates potential royalties from Jemperli, particularly following these promising results.

AnaptysBio (Nasdaq: ANAB) has announced the initiation of multiple global Phase 2b clinical trials, including rosnilimab for rheumatoid arthritis in Q3 2023 and ANB032 for atopic dermatitis in Q2 2023. The company is also preparing for a second Phase 2 trial for rosnilimab, with study initiation expected by year-end 2023, and aims to file an IND for ANB033 in H1 2024. Financially, cash and investments decreased to $584.2 million, while the net loss for 2022 was $128.7 million, indicating a reduction in losses compared to the previous year. A stock repurchase plan for up to $50 million has also been authorized, set to expire at the end of 2023.

AnaptysBio, a clinical-stage biotechnology company focused on innovative immunology therapeutics, announced that interim president and CEO Dan Faga will present at the Cowen and Company 43rd Annual Health Care Conference on March 6, 2023, at 2:50 p.m. ET. The presentation will be accessible via a live audio webcast on the company’s investor website, with a replay available for 30 days post-event.

The company is working on immune cell modulators for autoimmune and inflammatory diseases, including a planned Phase 2b trial for its PD-1 agonist, rosnilimab, and BTLA agonist, ANB032. AnaptysBio’s portfolio also includes several therapeutic antibodies developed in collaboration with GSK.

AnaptysBio, a clinical-stage biotechnology firm, announced a $50 million Stock Repurchase Plan, authorized by its Board of Directors. This initiative comes as the company reports having over $575 million in cash as of December 31, 2022, allowing it to maintain approximately four years of capital for its research and development projects. The buyback, which can occur through open market transactions, aims to enhance shareholder value. While the plan may be executed before its expiration on December 31, 2023, it does not obligate AnaptysBio to repurchase a specific number of shares.

AnaptysBio announced the advancement of its product candidates with two global Phase 2b trials: rosnilimab, a PD-1 agonist for rheumatoid arthritis, starting in Q3 2023, and ANB032, a BTLA agonist for atopic dermatitis, in Q2 2023. Despite promising interim data showing safety for rosnilimab in alopecia areata, the SALT scores did not meet target efficacy, halting further development in this area. The company ended 2022 with over $575 million in capital, providing approximately four years of runway for research and development initiatives.